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Property profile & analytics
OFF-MARKET
Estimated value
$1,365,000
Apartment buildings
128 Virginia Pl Costa Mesa, CA 92627-1713
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2600790
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Total area
4,564 SF
Lot
0.39 ac (16,943 SF)
APN
426-052-14
UPID
US09-2600790
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
$1.49M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.37M
Owner & transaction history
Penelope Real Investments LLC · 2 yrs held
Penelope Real Investments LLC
since 2023
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 Costa Mesa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Costa Mesa 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,615,000
6.5%
$1,490,000
7%
$1,385,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,185,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$2,140,000
Change: -2% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,035,000
Change: -7% · Conversion: Difficult
Blend value · Realmo final
$1.37M
Range $1.23M – $1.50M · ±10%
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
$299 / 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
$27,349
Tax year 2024
Assessed value
$2,305,145
Assessed 2024
Previous assessed
$2,305,145
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,718,122
Assessed improvement
$587,023
Applied tax rate
15.0000
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
1964
Heating
NONE
Units
6
Total area
4,564 SF
Lot
0.39 ac (16,943 SF)
APN
426-052-14
UPID
US09-2600790
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
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
$2.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
AUTO REPAIR, GARAGE
Est. value
$2.0M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
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
1964
Heating
NONE
Units
6
Lot
0.39 ac
Current owner
From public records · entity-resolved
Penelope Real Investments LLC
Entity
Mailing address
18961 CASTLEGATE LN, SANTA ANA, CA 92705-2801
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 16, 2023
—
Penelope Real Investments LLC
Joseph Cefalia JR
Deed
—
Feb 24, 2023
—
Joseph Cefalia JR
—
Deed
related
$1,000,000 · Jpmorgan Chase Bank NA
Jun 4, 2021
—
Joseph Cefalia JR
—
Deed
related
$940,000 · New Omni Bank NA
Feb 28, 2019
—
Cefalia,joseph JR Family Trust
—
Loan Modification
related
—
Jul 26, 2018
—
Cefalia,joseph JR Family Trust
Cefalia,joseph JR
Quit Claim Deed
related
—
May 3, 2016
—
Joseph Cefalia JR
—
Deed
related
$1,000,000 · New Omni Bk NA
Mar 8, 2016
—
Joseph Cefalia JR
Cefalia,margie
Quit Claim Deed
related
—
Mar 8, 2016
$2,012,500
Joseph Cefalia JR
Richards Family Trust
Grant Deed
—
Dec 20, 2013
—
Richards Family Trust
Richards,jeffery H
Quit Claim Deed
related
—
Dec 6, 2012
—
Suzanne R Richards
Richards Trust
Quit Claim Deed
related
—
Feb 6, 2008
—
Richards Trust
Richards Trust
Quit Claim Deed
related
—
Apr 28, 1993
—
Richard E Fiock
Richard E Fiock
Quit Claim Deed
related
$300,000 · Home Savings Of America
—
—
Joseph Cefalia JR
—
Deed Of Trust
related
$1,000,000 · New Omni Bk NA
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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