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Property profile & analytics
OFF-MARKET
Estimated value
$6,045,000
Apartment buildings
140 Vernon St 18 Santa Cruz, CA 95060-2149
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-4415327
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1999
Construction
WOOD
Total area
9,399 SF
Lot
0.54 ac (23,566 SF)
APN
008-011-12
UPID
US09-4415327
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
-
Pogonip Terrace Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$6.08M
CAP Approach
CAP
$3.72M
Comparable Approach
Comparable
$3.79M
Blend (final)
Blend
$6.05M
Owner & transaction history
Santa Cruz Beach LLC · 1 yrs held
Santa Cruz Beach LLC
since 2025
Last sale
$6.0M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.1M
+8.8%
Restaurant
$5.6M
+1.2%
Retail stores
$5.6M
+0.3%
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 Santa Cruz submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Cruz 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
$6,100,000
ML approach
$6,075,000
CAP Approach
CAP Return
Estimation
6%
$4,030,000
6.5%
$3,720,000
7%
$3,455,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,575,000
Current use
COMMERCIAL (GENERAL)
$6,065,000
Change: +9% · Conversion: Moderate
RESTAURANT
$5,640,000
Change: +1% · Conversion: Difficult
RETAIL STORES
$5,595,000
Change: +0% · Conversion: Difficult
MEDICAL BUILDING
$4,880,000
Change: -12% · Conversion: Moderate
Blend value · Realmo final
$6.05M
Range $5.44M – $6.65M · ±10% · vs last sale $6.00M (Apr 21 2025)
Last sale anchor
$6.00M
Apr 21 2025
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
$643 / 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
$27,093
Tax year 2024
Assessed value
$2,345,419
Assessed 2024
Previous assessed
$2,345,419
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$600,179
Assessed improvement
$1,745,240
Applied tax rate
1.0000
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
1999
Construction
WOOD
Heating
YES
Total area
9,399 SF
Lot
0.54 ac (23,566 SF)
APN
008-011-12
UPID
US09-4415327
Jurisdiction
SANTA CRUZ
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
$5.6M
COMMERCIAL (GENERAL)
Est. value
$6.1M
RESTAURANT
Est. value
$5.6M
RETAIL STORES
Est. value
$5.6M
MEDICAL BUILDING
Est. value
$4.9M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
RESTAURANT
RETAIL STORES
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
1999
Construction
WOOD
Heating
YES
Lot
0.54 ac
Current owner
From public records · entity-resolved
Santa Cruz Beach LLC
Entity
Mailing address
405 LOCKE DR, APTOS, CA 95003-5235
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Apr 21, 2025
$6,000,000
Santa Cruz Beach LLC
Pogonip Terrace LLC
Grant Deed
$1,150,000 · Santa Cruz County Bank
May 30, 2019
—
Foster,carol L Trust
Foster Carol L Trust
Quit Claim Deed
—
Nov 30, 2018
—
Pogonip Terrace
—
Deed
related
$1,360,000 · Wells Fargo Bank NA
Sep 24, 2004
—
Terrace Pogonip
Foster Trust
Grant Deed
related
—
Oct 14, 2003
—
Terrace Pogonip
Foster,tr
Grant Deed
related
$1,860,000 · Arbor Commercial Mortgage LLC
Feb 2, 1999
—
Davis Trust
Coburn,larry W & Ysabel
Grant Deed
related
—
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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