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Property profile & analytics
OFF-MARKET
Estimated value
$4,485,000
Apartment buildings
1397 Vulcan Ave Encinitas, CA 92024-1665
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-6930594
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1988
Total area
9,741 SF
Lot
0.45 ac (19,739 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
254-254-14-00
UPID
US09-6930594
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
$4.43M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.49M
Owner & transaction history
George Y Kung · 5 yrs held
George Y Kung
since 2021
Last sale
$4.6M
5 recorded transactions
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · Encinitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$6.4M
+23.2%
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 Encinitas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Encinitas 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
$4,340,000
ML approach
$4,430,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,180,000
Current use
RESTAURANT
$6,385,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$4,625,000
Change: -11% · Conversion: Moderate
Blend value · Realmo final
$4.49M
Range $4.04M – $4.93M · ±10% · vs last sale $4.59M (Jan 15 2021)
Last sale anchor
$4.59M
Jan 15 2021
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
$460 / 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
$56,647
Tax year 2024
Assessed value
$4,868,821
Assessed 2024
Previous assessed
$4,868,821
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$4,085,650
Assessed improvement
$783,171
Applied tax rate
19.0000
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
1988
Heating
NONE
Units
9
Bathrooms
18
Total area
9,741 SF
Lot
0.45 ac (19,739 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
254-254-14-00
UPID
US09-6930594
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · Encinitas, CA
Zoning R-3:RESTRICTED MULTIPLE · permitted uses
R-3:RESTRICTED MULTIPLE · Encinitas, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Encinitas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$5.2M
RESTAURANT
Est. value
$6.4M
MEDICAL BUILDING
Est. value
$4.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
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
1988
Heating
NONE
Units
9
Bathrooms
18
Lot
0.45 ac
Current owner
From public records · entity-resolved
George Y Kung
Individual
Free & Clear · 5 yrs held
Mailing address
13014 POLVERA AVE, SAN DIEGO, CA 92128-1138
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 15, 2021
$4,588,000
George Y Kung
Remainder J C 2011 Unitru
Grant Deed
—
Dec 21, 2016
—
Jones-brogan 2011 Charitabl Trust
Brogan & Jones Living Trust
Quit Claim Deed
related
—
Nov 17, 2000
$1,200,000
Jones Trust
Mercer,john S
Trustees Deed
$698,000 · Washington Mutual Fsb
Nov 17, 2000
—
John S Mercer
Mercer,thomas C
Quit Claim Deed
related
—
Feb 16, 1989
$825,000
Thomas C Mercer
Buck S Gretchen
Grant Deed
$45,000 · Buck S Gretchen
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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