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Property profile & analytics
OFF-MARKET
Estimated value
$9,410,000
Apartment buildings
1502 San Pascual St Santa Barbara, CA 93101-4152
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US10-1987822
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
15,820 SF
Lot
1 ac (43,560 SF)
APN
043-252-015
UPID
US10-1987822
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.41M
Owner & transaction history
Turner Lighthouse LP · 1 yrs held
Turner Lighthouse LP
since 2024
Last sale
$12.7M
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 Santa Barbara submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Barbara 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$12,925,000
Current use
Blend value · Realmo final
$9.41M
Range $8.47M – $10.35M · ±10% · vs last sale $12.69M (Dec 31 2024)
Last sale anchor
$12.69M
Dec 31 2024
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
$595 / 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
$427
Tax year 2024
Assessed value
$14,751,056
Assessed 2024
Previous assessed
$14,751,056
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$4,713,137
Assessed improvement
$10,037,919
Applied tax rate
2.0000
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
Heating
NONE
Rooms
36
Bathrooms
18
Total area
15,820 SF
Lot
1 ac (43,560 SF)
APN
043-252-015
UPID
US10-1987822
Jurisdiction
SANTA BARBARA
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
$12.9M
APARTMENT HOUSE (5+ UNITS) Current
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
Heating
NONE
Rooms
36
Bathrooms
18
Lot
1 ac
Current owner
From public records · entity-resolved
Turner Lighthouse LP
Entity
Mailing address
PO BOX 186, SANTA BARBARA, CA 93102-0186
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 31, 2024
$12,689,500
Turner Lighthouse LP
The Turner Foundation Since 1958
Grant Deed
—
Jul 1, 2020
—
Turner Foundation-since 1958
—
Deed
related
$18,000,000 · California Ent Dev Auth
Aug 28, 2014
$12,500,000
Turner Foundation Since 1958
Sb Core San Pascual LLC
Grant Deed
$7,500,000 · Montecito Bk&tr
Jan 4, 2008
$9,780,000
Sb Core San Pascual LLC
Jobe Frank & B Trust
Grant Deed
$5,880,000 · Capmark Bank
Dec 4, 2007
—
Park Center Exchange I LLC
Kadoya,grace
Grant Deed
—
Apr 19, 2004
$7,900,000
Jobe,tr
San Pasqual Venture LP
Grant Deed
$5,900,000 · First Federal Bank Ca
Apr 11, 2001
—
San Pasquel Venture
Web Service Co
Quit Claim Deed
related
$330,000 · First Federal Bank Ca
—
—
Turner Foundation Since-1958
—
Deed Of Trust
related
$275,000 · Miscellaneous Govt Agcy
—
—
Jobe Frank & Beverly Trust
—
Deed Of Trust
related
$5,400,000 · Kinecta FCU
—
—
Turner Foundation-since 1958
—
Deed Of Trust
related
$18,000,000 · California Ent Dev Auth
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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