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Property profile & analytics
OFF-MARKET
Estimated value
$1,190,000
Mobile home & RV parks
1500 Little Morro Crk Rd, Morro Bay, CA 93442-1876
Entity Owned
3-yr Hold
Free & Clear
Property ID
US09-1373580
Property profile
Verified
Property type
Mobile home & RV parks
Use group
MOBILE HOME PARK, TRAILER PARK
Year built
1973
Construction
TYPE NOT SPECIFIED
Total area
552 SF
Lot
40 ac (1,742,400 SF)
Zoning code
AG
APN
073-111-016
UPID
US09-1373580
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
$1.22M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.19M
Owner & transaction history
Wathen Ranch LLC · 3 yrs held
Wathen Ranch LLC
since 2023
Last sale
$1.1M
7 recorded transactions
Zoning & alternative use
AG · Morro Bay, CA
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
$1,270,000
ML approach
$1,215,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$1.19M
Range $1.07M – $1.31M · ±10% · vs last sale $1.14M (May 23 2023)
Last sale anchor
$1.14M
May 23 2023
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
$2,156 / 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
$10,691
Tax year 2024
Assessed value
$967,367
Assessed 2024
Previous assessed
$967,367
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$735,244
Assessed improvement
$232,123
Applied tax rate
112.0000
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
Mobile home & RV parks
Use group
MOBILE HOME PARK, TRAILER PARK
Status
Off-Market
Year built
1973
Construction
TYPE NOT SPECIFIED
Heating
NONE
Rooms
3
Bathrooms
1
Total area
552 SF
Lot
40 ac (1,742,400 SF)
Zoning code
AG
APN
073-111-016
UPID
US09-1373580
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
AG · Morro Bay, CA
Zoning AG · permitted uses
AG · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Construction
TYPE NOT SPECIFIED
Heating
NONE
Rooms
3
Bathrooms
1
Lot
40 ac
Current owner
From public records · entity-resolved
Wathen Ranch LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1500 LITTLE MORRO CRK RD, MORRO BAY, CA 93442-1876
Mailing matches property
Yes
Owner-occupied
Yes
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2023
$1,135,500
Wathen Ranch LLC
Mark Wathen
Grant Deed
—
Mar 31, 2023
—
Mark Wathen
Mark Thomas Wathen
Intrafamily Transfer
related
—
Mar 27, 2023
—
Mark Thomas Wathen
Doreen Laverne Wathen
Gift Deed
related
—
Jun 24, 2021
—
Mark Thomas Wathen
Ann Wathen
Intrafamily Transfer
related
—
Apr 17, 2014
—
Wathen,mark T & Nancy J Trust
Wathen,mark T & Nancy J
Quit Claim Deed
related
—
Mar 6, 2008
$20,000
Johnson Larry Trust
Wathen,john B
Grant Deed
—
Feb 10, 2006
$35,000
Mark T Wathen
Johnson,ronald B
Grant Deed
—
Feb 8, 2005
—
Johnson Larry Trust
Johnson,larry A
Quit Claim Deed
related
—
Jun 8, 2004
—
Wathen,tr
Waten,john B & Doreen L
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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