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Property profile & analytics
OFF-MARKET
Estimated value
$1,565,000
Apartment buildings
116 Palm Ave National City, CA 91950-1777
Individually Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9522341
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Total area
12,087 SF
Lot
0.4 ac (17,618 SF)
Zoning code
COMMERCIAL
APN
554-043-07-00
UPID
US09-9522341
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Palm Ave. Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.48M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.57M
Owner & transaction history
Michael A Spinazzola · 4 yrs held
Michael A Spinazzola
since 2021
Last sale
$1.7M
7 recorded transactions
Zoning & alternative use
COMMERCIAL · National City, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs National City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs National City submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$1,445,000
ML approach
$1,480,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.57M
Range $1.41M – $1.72M · ±10% · vs last sale $1.67M (Dec 17 2021)
Last sale anchor
$1.67M
Dec 17 2021
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$129 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$32,838
Tax year 2024
Assessed value
$2,056,474
Assessed 2024
Previous assessed
$2,056,474
+0.0% YoY
Effective rate
1.60%
On assessed value
Assessed land
$701,909
Assessed improvement
$1,354,565
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1963
Heating
NONE
Units
19
Total area
12,087 SF
Lot
0.4 ac (17,618 SF)
Zoning code
COMMERCIAL
APN
554-043-07-00
UPID
US09-9522341
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · National City, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · National City, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
National City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1963
Heating
NONE
Units
19
Lot
0.4 ac
Current owner
From public records · entity-resolved
Michael A Spinazzola
Individual
Mailing address
3401 PRINCETON AVE, DALLAS, TX 75205-3244
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2021
—
Michael A Spinazzola
Michael A Spinazzola
Intrafamily Transfer
related
$1,000,000 · Mission FCU
Jul 27, 2011
—
Joseph D Cutri
Cutri,jill L
Quit Claim Deed
related
—
Jul 27, 2011
$1,670,000
Michael A Spinazzola
116 Palm Avenue LLC
Grant Deed
—
Jul 31, 2008
—
116 Palm Avenue LLC
Carlos G Ledesma
Grant Deed
$1,240,000 · Washington Mutual Bank
Aug 8, 2002
$1,350,000
Carlos G Ledesma
Briggs,gary W & Joy H
Grant Deed
$935,000 · Washington Mutual Fsb
Dec 14, 2001
$555,000
Gary W Briggs
Eisenson,henry & Esther S
Grant Deed
—
Jan 29, 1990
$819,000
Eisenson Henry &
Arpple INC
Trustees Deed
$614,000 · First Nationwide Bank
Jan 29, 1990
—
Arpple INC
San Diego Realty
Trustees Deed
related
—
Nov 14, 1988
—
San Diego Realty
Arpple INC
Grant Deed
related
—
Aug 9, 1988
$300,000
Arpple INC
Rose Barbara A
Trustees Deed
—
Aug 9, 1988
—
Grant H Slawson
Arpple INC
Trustees Deed
related
—
—
—
Henry Eisenson
—
Deed Of Trust
related
$558,000 · Abn Amro Mortgage Group INC
—
—
Gary W Briggs
—
Deed Of Trust
related
$561,000 · Pacific Trust Bank
—
—
Grant H Slawson
—
Deed Of Trust
related
$150,000 · Golden Triangle
—
—
Grant H Slawson
—
Deed Of Trust
related
$480,000 · Home Savings Of America
—
—
Carlos G Ledesma
—
Deed Of Trust
related
$1,365,000 · Washington Mutual Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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