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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Turn key restaurants
1537 Ocean Ave Santa Monica, CA 90401
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6450938
Property profile
Verified
Property type
Turn key restaurants
Use group
RESTAURANT
Year built
1993
Construction
WOOD
Total area
3,878 SF
Lot
0.33 ac (14,518 SF)
Zoning code
SMRVC*
APN
4291-028-025
UPID
US09-6450938
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
-
End of Route 66 Santa Monica Resort
-
1537 Ocean Ave Parking Parking Lot & Garage
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$840k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$571k
Blend (final)
Blend
$705k
Owner & transaction history
1535 Ocean Ave LLC · 22 yrs held
1535 Ocean Ave LLC
since 2003
7 recorded transactions
Zoning & alternative use
SMRVC* · Santa Monica, 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 Santa Monica submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Monica 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
$840,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$705k
Range $635k – $776k · ±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
$182 / 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
$101,445
Tax year 2024
Assessed value
$7,980,168
Assessed 2024
Previous assessed
$7,980,168
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$6,690,804
Assessed improvement
$1,289,364
Applied tax rate
8.0000
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
Turn key restaurants
Use group
RESTAURANT
Status
Off-Market
Year built
1993
Construction
WOOD
Heating
NONE
Cooling
OTHER
Stories
1
Total area
3,878 SF
Lot
0.33 ac (14,518 SF)
Zoning code
SMRVC*
APN
4291-028-025
UPID
US09-6450938
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
SMRVC* · Santa Monica, CA
Zoning SMRVC* · permitted uses
SMRVC* · Santa Monica, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Monica. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1993
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
1535 Ocean Ave LLC
Entity
Mailing address
9166 CORDELL DR, LOS ANGELES, CA 90069-1718
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 4, 2003
—
1535 Ocean Ave LLC
Ito Inestments INC
Grant Deed
related
—
Mar 6, 1992
$4,500,000
I T O Inv INC
Chicha,philippe
Grant Deed
—
May 18, 1988
—
Philippe Chicha
Ji.u/
Quit Claim Deed
related
$1,800,000 · Glendale Federal Bank
—
—
Ito Investments INC
—
Deed Of Trust
related
$100,000 · Union Bank
—
—
I T O Investments INC
—
Deed Of Trust
related
$150,000 · Union Bank Of California
—
—
1535 Ocean Avenue LLC
—
Deed Of Trust
related
$1,500,000 · First Republic Bank
—
—
1535 Ocean Avenue LLC
—
Deed Of Trust
related
$604,835 · First Republic Bank
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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