New search
Property profile & analytics
OFF-MARKET
Apartment buildings
1198 La Salle Ave, Seaside, CA 93955-3108
Individually Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-1491302
Property summary
AI-generated overview
This exceptional Seaside, CA commercial property presents a unique investment opportunity. Situated on a substantial 0.59-acre lot (25,701 square feet), the property encompasses a 2,646 square foot building currently configured as six rental units. The existing units comprise a mix of apartment styles: two 2-bedroom, 1-bathroom units
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1933
Construction
WOOD
Total area
718 SF
Lot
0.59 ac (25,701 SF)
APN
012-051-002-000
UPID
US09-1491302
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
John E Banks · 2 yrs held
John E Banks
since 2024
7 recorded transactions
Zoning & alternative use
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 Seaside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Seaside 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,475
Tax year 2023
Assessed value
$84,363
Assessed 2023
Previous assessed
$84,363
+0.0% YoY
Effective rate
7.68%
On assessed value
Assessed land
$17,641
Assessed improvement
$66,722
Applied tax rate
10.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1933
Construction
WOOD
Heating
FORCED AIR
Buildings
3
Stories
1
Rooms
5
Bathrooms
1
Total area
718 SF
Lot
0.59 ac (25,701 SF)
APN
012-051-002-000
UPID
US09-1491302
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1933
Construction
WOOD
Heating
FORCED AIR
Stories
1
Buildings
3
Rooms
5
Bathrooms
1
Lot
0.59 ac
Current owner
From public records · entity-resolved
John E Banks
Individual
Mailing address
1550 MESCAL ST, SEASIDE, CA 93955-4625
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 24, 2024
—
John E Banks
John E Banks
Intrafamily Transfer
related
—
Apr 14, 2000
—
John E Banks
Banks Trust
Quit Claim Deed
related
$313,000 · George Maciel Trucking INC
Feb 12, 1991
—
Banks,trust
Banks,john E
Quit Claim Deed
related
$27,000 · Individual
—
—
Banks Trust
—
Deed Of Trust
related
$300,000 · Individual
—
—
John E Banks
—
Deed Of Trust
related
$200,000 · Gomez Maria
—
—
John E Banks
—
Deed Of Trust
related
$465,000 · George Maciel Trucking INC
—
—
Banks Trust
—
Deed Of Trust
related
$50,000 · Monterey Bay Equity Corp
—
—
Banks Trust
—
Deed Of Trust
related
$20,000 · Individual
—
—
John E Banks
—
Deed Of Trust
related
$60,000 · Mcdonald Real Estate INC Trust
—
—
John E Banks
—
Deed Of Trust
related
$400,000 · Pensco Trust Co
—
—
Jon E Banks
—
Deed Of Trust
related
$25,000 · Cypress Coast Bank
—
—
John E Banks
—
Deed Of Trust
related
$23,000 · Mcdonald Real Estate INC
—
—
John E Banks
—
Deed Of Trust
related
$30,000 · Mcdonald Real Estate INC Trust
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1198 La Salle Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
