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Property profile & analytics
OFF-MARKET
Estimated value
$13,910,000
Apartment buildings
1535 Park Blvd Orange Cove, CA 93646-9324
Individually Owned
17-yr Hold
~
Est. High Equity
Property ID
US09-2212077
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2006
Construction
WOOD
Total area
88,243 SF
Lot
5.22 ac (227,383 SF)
Zoning code
R1
APN
378-030-31
UPID
US09-2212077
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
-
Los Arboles Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$17.17M
Comparable Approach
Comparable
$15.30M
Blend (final)
Blend
$13.91M
Owner & transaction history
Michael Ekizian · 17 yrs held
Michael Ekizian
since 2008
5 recorded transactions
Zoning & alternative use
R1 · Orange Cove, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$18.8M
+67.6%
Medical building
$17.2M
+53.4%
Office building
$15.0M
+33.2%
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 Orange Cove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Orange Cove 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%
$18,600,000
6.5%
$17,165,000
7%
$15,940,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$11,225,000
Current use
RESTAURANT
$18,810,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$17,215,000
Change: +53% · Conversion: Moderate
OFFICE BUILDING
$14,950,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$12,955,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$9,500,000
Change: -15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$9,400,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$13.91M
Range $12.52M – $15.30M · ±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
$158 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$5,265
Tax year 2023
Assessed value
$8,100,000
Assessed 2023
Previous assessed
$8,100,000
+0.0% YoY
Effective rate
0.07%
On assessed value
Assessed land
$910,000
Assessed improvement
$7,190,000
Applied tax rate
14.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
2006
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Units
81
Bathrooms
2
Total area
88,243 SF
Lot
5.22 ac (227,383 SF)
Zoning code
R1
APN
378-030-31
UPID
US09-2212077
Jurisdiction
FRESNO
Zoning & alternative use
R1 · Orange Cove, CA
Zoning R1 · permitted uses
R1 · Orange Cove, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Orange Cove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$11.2M
RESTAURANT
Est. value
$18.8M
MEDICAL BUILDING
Est. value
$17.2M
OFFICE BUILDING
Est. value
$15.0M
AUTO REPAIR, GARAGE
Est. value
$13.0M
RETAIL STORES
Est. value
$9.5M
INDUSTRIAL (GENERAL)
Est. value
$9.4M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
INDUSTRIAL (GENERAL)
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
2006
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
81
Bathrooms
2
Lot
5.22 ac
Current owner
From public records · entity-resolved
Michael Ekizian
Individual
Mailing address
5400 E OLYMPIC BLVD STE #300, COMMERCE, CA 90022-5187
Ownership since
2008
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 7, 2026
—
Central Valley Holdings 1 LP
—
Deed
related
$12,650,000 · Citizens Business Bank
Nov 21, 2008
$54,500
Michael Ekizian
City Of Orange Cove
Grant Deed
$1,030,000 · Jhs Family Limited Partnership
Feb 23, 2005
—
Los Arboles Family Apts
—
Grant Deed
related
$10,532,000 · Shs Capital LP
Dec 17, 2004
$341,074
Los Arboles Family Apts
City Of Orange Cove
Grant Deed
—
—
—
Los Arboles Family Apartments
—
Deed Of Trust
related
$2,061,893 · Bank Of America
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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