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Property profile & analytics
OFF-MARKET
Estimated value
$6,085,000
Apartment buildings
1209 Cleveland Ave Madera, CA 93638
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3240262
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1981
Construction
WOOD
Total area
25,392 SF
Lot
1.13 ac (49,222 SF)
APN
005-150-021-000
UPID
US10-3240262
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
$6.35M
CAP Approach
CAP
$3.99M
Comparable Approach
Comparable
$4.82M
Blend (final)
Blend
$6.09M
Owner & transaction history
Lakeland Apartment Homes LLC · 4 yrs held
Lakeland Apartment Homes LLC
since 2022
Last sale
$8.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$7.4M
+102.4%
Restaurant
$4.3M
+17.8%
Office building
$3.8M
+5.0%
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 Madera submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Madera 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
$6,935,000
ML approach
$6,345,000
CAP Approach
CAP Return
Estimation
6%
$4,315,000
6.5%
$3,985,000
7%
$3,700,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$7,365,000
Change: +102% · Conversion: Moderate
RESTAURANT
$4,285,000
Change: +18% · Conversion: Difficult
OFFICE BUILDING
$3,820,000
Change: +5% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$3,685,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$6.09M
Range $5.48M – $6.69M · ±10% · vs last sale $8.38M (May 26 2022)
Last sale anchor
$8.38M
May 26 2022
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
$240 / 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
$65,312
Tax year 2024
Assessed value
$5,540,650
Assessed 2024
Previous assessed
$5,540,650
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$749,088
Assessed improvement
$4,791,562
Applied tax rate
2.0000
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
1981
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
2
Rooms
56
Bathrooms
8
Total area
25,392 SF
Lot
1.13 ac (49,222 SF)
APN
005-150-021-000
UPID
US10-3240262
Jurisdiction
MADERA
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
COMMERCIAL (GENERAL)
Est. value
$7.4M
RESTAURANT
Est. value
$4.3M
OFFICE BUILDING
Est. value
$3.8M
INDUSTRIAL (GENERAL)
Est. value
$3.7M
COMMERCIAL (GENERAL)
RESTAURANT
OFFICE BUILDING
INDUSTRIAL (GENERAL)
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
1981
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Rooms
56
Bathrooms
8
Lot
1.13 ac
Current owner
From public records · entity-resolved
Lakeland Apartment Homes LLC
Entity
Mailing address
101 MONTGOMERY ST STE #1225, SAN FRANCISCO, CA 94104-4182
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 26, 2022
$8,375,000
Lakeland Apartment Homes LLC
Sekhon Madera
Grant Deed
$3,670,000 · Arbor Commercial Funding LLC
Jan 27, 2005
$4,053,000
Mohinder Sekhon
Manik,charanjit
Grant Deed
$2,752,500 · Fidelity Bancorp Funding INC
Sep 27, 2004
—
Charanjit Manik
Manik,balbir
Quit Claim Deed
related
—
Apr 12, 2004
$2,150,000
Salok S Punghlia
Manik,balbir
Grant Deed
$1,950,000 · Balbir Manik
May 29, 2002
—
Balbir Manik
Sran,inderjit K
Quit Claim Deed
related
—
Mar 21, 2002
$2,150,000
Inderjit K Sran
Tulare Investors LP
Grant Deed
$1,720,000 · Abn Amro Mortgage Group INC
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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