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    12215 223rd St Hawaiian Gardens, CA 90716-1506
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    Property profile & analytics

    12215 223rd St, Hawaiian Gardens, CA 90716-1506

    View on Map
    • Apartment buildings
    • 2,440 SF
    • 0.12 lot acres
    Off-Market
    Last Sale Jun 30, 2021
    $800,008
    Property ID
    US10-0051727
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $770,000
    Show details
    Cap Rate Potential
    5.4%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 12215 223rd St

    Year built
    1949
    Construction
    WOOD
    Lot size
    0.12 lot acres
    Zone code
    HGR2*
    Property type
    Apartment buildings
    APN
    7076-036-015
    APU
    7076036015

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 26, 2023 — Dhoor LLC — Deed · related $1.6M · Pcb Bank
    Jun 30, 2021 $800,000 Dhoor LLC Peggy Marie Clewett Grant Deed $560k · Banner Bank
    Apr 26, 2021 — Peggy Marie Clewett Carol Jean Willett Quit Claim Deed · related —
    Jul 30, 2019 — Carol J Willett Furgeson Lonny W L/tr Quit Claim Deed · related —
    May 20, 2009 — Furgeson Lonny W Living Trust Furgeson,lonny W Quit Claim Deed · related —
    Nov 4, 2003 — Lonny W Furgeson Furgeson,tr Quit Claim Deed · related —
    May 5, 1992 — Furgeson Gladys M Tr — Deed Of Trust · related —
    Apr 14, 1992 — Furgeson Gladys M Tr — Deed Of Trust · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $730,000
      ML approach
      $755,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $655,000
      6.5%
      $605,000
      7%
      $560,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $943,000
      Market price range: $426k - $943k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $765,000
      Current use
      AUTO REPAIR, GARAGE
      $1,130,000
      Change: +47% Conversion: Difficult
      MEDICAL BUILDING
      $1,110,000
      Change: +45% Conversion: Moderate
      OFFICE BUILDING
      $1,095,000
      Change: +43% Conversion: Moderate
      RETAIL STORES
      $935,000
      Change: +22% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $755,000
      Change: -1% Conversion: Moderate
      WAREHOUSE, STORAGE
      $715,000
      Change: -6% Conversion: Difficult

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Hawaiian Gardens
    County
    Los Angeles
    State
    California
    Longitude
    -118.071
    Latitude
    33.8264
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $11,429
    $583,664
    $266,052
    $849,716
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,185,000
      8,328 SF

      21931 Claretta Ave

      APARTMENT HOUSE (5+ UNITS)
      21931 Claretta Ave, Hawaiian Gardens, CA 90716-1827
      View Details
    • Value Estimation
      $875,000
      6,840 SF

      12255 214th St

      APARTMENT HOUSE (5+ UNITS)
      12255 214th St, Hawaiian Gardens, CA 90716-2367
      View Details
    • Value Estimation
      $1,570,000
      8,192 SF

      21806 Hawaiian Ave

      APARTMENT HOUSE (5+ UNITS)
      21806 Hawaiian Ave, Hawaiian Gardens, CA 90716-1751
      View Details
    • Value Estimation
      $1,075,000
      5,605 SF

      22012 Hawaiian Ave

      APARTMENT HOUSE (5+ UNITS)
      22012 Hawaiian Ave, Hawaiian Gardens, CA 90716-1833
      View Details
    • Value Estimation
      $680,000
      5,262 SF

      21513 Juan Ave

      APARTMENT HOUSE (5+ UNITS)
      21513 Juan Ave, Hawaiian Gardens, CA 90716-1136
      View Details
    • Value Estimation
      $2,420,000
      12,747 SF

      21901 Belshire Ave

      APARTMENT HOUSE (5+ UNITS)
      21901 Belshire Ave, Hawaiian Gardens, CA 90716-2449
      View Details

    Similar Nearby for Sale

    • $2,250,000

      Turnkey Multifamily Asset For Sale

      Well-maintained multifamily property with remodeled interiors and strong cash flow.
      12120 215Th St, Hawaiian Gardens, CA 90716
      View Details
    • Contact for pricing

      Hawaiian Gardens Single-Story Duplex

      Well-maintained duplex in prime location with reliable tenants.
      22314 Joliet Ave, Hawaiian Gardens, CA 90716
      View Details
    • $1,250,000

      Four-Unit Multifamily Property

      Four-unit multifamily property with strong income and convenient location.
      12218 224Th St, Hawaiian Gardens, CA 90716
      View Details
    • $750,000
      1,214 SF

      Duplex in Hawaiian Gardens

      Fully rented duplex with long-term tenants in Hawaiian Gardens.
      12127 216Th St, Hawaiian Gardens, CA 90716
      View Details
    • Contact for pricing

      Duplex with Backyard and Garage

      Two-unit property near amenities with updated features.
      22438 Claretta Ave, Hawaiian Gardens, CA 90716
      View Details

    Similar Nearby for Lease

    • $0.65 SF/Yr

      Contractor's Yard Sublease Opportunity

      Commercial property featuring office and industrial buildings with yard space.
      12102 Centralia St, Hawaiian Gardens, CA 90716
      View Details
    • Contact for pricing

      Former Supermarket Space Available

      35,000 SF former supermarket for lease in Hawaiian Gardens.
      12565 E Carson St, Hawaiian Gardens, CA 90716
      View Details
    • Contact for pricing

      Retail Space in Hawaiian Gardens

      Retail space for lease in a convenient shopping center.
      12101-12171 East Carson St, Hawaiian Gardens, CA 90716
      View Details
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    Hawaiian Gardens, CA 90716-1506
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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