Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$14,680,000
Apartment buildings
1203 Central Ave Redlands, CA 92374-4300
Entity Owned
3-yr Hold
Property ID
US10-1551035
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1987
Construction
WOOD FRAME
Total area
47,280 SF
Lot
3.45 ac (150,282 SF)
APN
0170-211-23-0000
UPID
US10-1551035
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
-
Aspire Redlands Apartments Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$12.00M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$16.62M
Blend (final)
Blend
$14.68M
Owner & transaction history
Ocotillo Redlands LLC · 3 yrs held
Ocotillo Redlands LLC
since 2023
Last sale
$13.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$22.2M
+120.5%
Office building
$20.6M
+104.0%
Commercial (general)
$15.1M
+49.4%
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 Redlands submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Redlands 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
$17,975,000
ML approach
$12,000,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,080,000
Current use
RESTAURANT
$22,220,000
Change: +121% · Conversion: Difficult
OFFICE BUILDING
$20,555,000
Change: +104% · Conversion: Moderate
COMMERCIAL (GENERAL)
$15,055,000
Change: +49% · Conversion: Moderate
AUTO REPAIR, GARAGE
$14,395,000
Change: +43% · Conversion: Difficult
MEDICAL BUILDING
$13,680,000
Change: +36% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$12,725,000
Change: +26% · Conversion: Difficult
WAREHOUSE, STORAGE
$12,050,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$14.68M
Range $13.21M – $16.15M · ±10% · vs last sale $13.40M (Jun 15 2023)
Last sale anchor
$13.40M
Jun 15 2023
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
$310 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$40,434
Tax year 2023
Assessed value
$13,668,000
Assessed 2024
Previous assessed
$3,228,922
+323.3% YoY
Effective rate
0.30%
On assessed value
Assessed land
$3,060,000
Assessed improvement
$10,608,000
Applied tax rate
5.0000
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
1987
Construction
WOOD FRAME
Heating
NONE
Units
60
Total area
47,280 SF
Lot
3.45 ac (150,282 SF)
APN
0170-211-23-0000
UPID
US10-1551035
Jurisdiction
SAN BERNARDINO
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$10.1M
RESTAURANT
Est. value
$22.2M
OFFICE BUILDING
Est. value
$20.6M
COMMERCIAL (GENERAL)
Est. value
$15.1M
AUTO REPAIR, GARAGE
Est. value
$14.4M
MEDICAL BUILDING
Est. value
$13.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$12.7M
WAREHOUSE, STORAGE
Est. value
$12.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
NEIGHBORHOOD: SHOPPING CENTER
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1987
Construction
WOOD FRAME
Heating
NONE
Units
60
Lot
3.45 ac
Current owner
From public records · entity-resolved
Ocotillo Redlands LLC
Entity
Mailing address
8965 RESEARCH DR, IRVINE, CA 92618-4246
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 15, 2023
$13,400,000
Ocotillo Redlands LLC
Wheeler Place Partners
Grant Deed
$7,684,000 · Pgim Real Estate Agency Financing L
Jun 7, 2018
—
Wheeler Place Partners
—
Grant Deed
related
$5,300,000 · Jp Morgan Chase Bk
Mar 30, 1995
—
Wheeler Place Partners
Home Savings Of America
Grant Deed
related
—
Mar 17, 1995
$2,000,000
Home Savings Of America
Lebanoff,maurice Lebanoff & Elli
Trustees Deed
related
—
—
—
Wheeler Place Partners
—
Deed Of Trust
related
$3,700,000 · J P Morgan Chase Bank
—
—
Wheeler Place Partners
—
Deed Of Trust
related
$260,000 · Washington Mutual Fsb
—
—
Maurice Lebanoff
—
Deed Of Trust
related
$2,650,000 · Home Savings Of America
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 1203 Central 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.
