Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    16002 Myrtle Ave Tustin, CA 92780-5565

    • Apartment buildings
    • 14,666 SF
    • 0.51 lot acres
    OFF-MARKET
    Value Estimations
    $3,755,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-3289359
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 16002 Myrtle Ave

    Year built
    1964
    Lot size
    0.51 lot acres
    Property size
    14,666 SF
    Property type
    Apartment buildings
    APN
    402-134-02
    APU
    40213402

    Value Estimations

    based on Realmo’s proprietary methodology

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,665,000
      6.5%
      $4,305,000
      7%
      $4,000,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $5,940,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Tustin
    County
    Orange
    State
    California
    Longitude
    -117.83
    Latitude
    33.7312
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $56,992
    $2,624,749
    $2,187,291
    $4,812,040
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $9,915,000
      71,452 SF

      345 1st St

      APARTMENT HOUSE (5+ UNITS) • 71,452 SF
      345 1st St, Tustin, CA 92780-3138
      View Details
    • Value Estimation
      $4,000,000
      15,600 SF

      436 2nd St

      APARTMENT HOUSE (5+ UNITS) • 15,600 SF
      436 2nd St, Tustin, CA 92780-3741
      View Details
    • Value Estimation
      $5,225,000
      22,076 SF

      16561 Alliance Ave

      APARTMENT HOUSE (5+ UNITS) • 22,076 SF
      16561 Alliance Ave, Tustin, CA 92780-4916
      View Details
    • Value Estimation
      $6,740,000
      48,114 SF

      14101 Browning Ave

      APARTMENT HOUSE (5+ UNITS) • 48,114 SF
      14101 Browning Ave, Tustin, CA 92780-5968
      View Details
    • Value Estimation
      $13,885,000
      97,233 SF

      15652 Williams St

      APARTMENT HOUSE (100+ UNITS) • 97,233 SF
      15652 Williams St, Tustin, CA 92780-4879
      View Details
    • Value Estimation
      $1,410,000
      5,258 SF

      14781 Newport Ave

      APARTMENT HOUSE (5+ UNITS) • 5,258 SF
      14781 Newport Ave, Tustin, CA 92780-6141
      View Details

    Similar Nearby for Sale

    • $6,200,000
      11,800 SF

      Tustin Multi-Unit Residential Oasis

      Modern multi-unit property with remodeled home in desirable Tustin.
      1042 San Juan St, Tustin, CA 92780
      View Details
    • Contact for pricing

      Upgraded Tustin Condo with Garage

      Modern, upgraded 2-bedroom condo in Tustin, move-in ready.
      16873 Donwest, Tustin, CA 92780
      View Details
    • $160,000

      Tustin Mobile Home for Sale

      Mobile home in Tustin Village Mobile Home Park for sale.
      124 E Balboa Ln, Tustin, CA 92780
      View Details
    • $130,000

      Updated Mobile Home Corner Lot

      Updated mobile home on a private corner lot in Tustin.
      158 De Anza 175, Tustin, CA 92780
      View Details
    • $129,989

      Charming Mobile Home in Tustin

      Well-maintained 2-bedroom mobile home in a prime Tustin location.
      131 S Colombo Ln, Tustin, CA 92780
      View Details
    • $599,000

      Charming Condo in Old Tustin

      Two-bedroom condo with new upgrades and convenient access.
      453 E 1St St, Tustin, CA 92780
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Newport Avenue Office Building

      Fully leased office building on Newport Avenue in Tustin.
      13522 Newport Ave, Tustin, CA 92780
      View Details
    • Contact for pricing
      1,172 SF

      Tustin Office Space For Lease

      Second floor office space available with new floor and paint.
      14471 Chambers Rd, Tustin, CA 92780
      View Details
    • Contact for pricing
      1,500 SF

      Office Space For Rent

      Office space available for lease in Tustin, California.
      1252 Irvine Blvd, Tustin, CA 92780
      View Details
    • Contact for pricing
      3,540 SF

      Tustin Executive Office Suite for Lease

      Prime Tustin Office, 3,540 sq ft, Available Now
      14831 Franklin Ave, Tustin, CA 92780
      View Details
    • Contact for pricing

      Leased Office Building in Tustin

      Fully leased office building in Tustin, California.
      1076 E 1St St, Tustin, CA 92780
      View Details
    • Contact for pricing
      6,044 SF

      Tustin Office Space Sublease

      First floor office space available for sublease in Tustin.
      17592 E 17Th St, Tustin, CA 92780
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    16002 Myrtle Ave
    Tustin, CA 92780-5565
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!