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Property profile & analytics
OFF-MARKET
Estimated value
$535,000
Apartment buildings
1606 Prospect St, Porterville, CA 93257-6504
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-1763412
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
WOOD
Total area
7,560 SF
Lot
1 ac (43,560 SF)
Zoning code
CR
APN
243-210-059-000
UPID
US10-1763412
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
$639k
Blend (final)
Blend
$535k
Owner & transaction history
Frazier Creek Investments LP · 1 yrs held
Frazier Creek Investments LP
since 2024
7 recorded transactions
Zoning & alternative use
CR · Porterville, 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 Porterville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Porterville 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
AUTO REPAIR, GARAGE
$880,000
Change: -14% · Conversion: Difficult
RETAIL STORES
$835,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$535k
Range $482k – $589k · ±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
$71 / 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
$4,250
Tax year 2024
Assessed value
$392,365
Assessed 2024
Previous assessed
$392,365
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$90,545
Assessed improvement
$301,820
Applied tax rate
4.0000
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
Year built
1972
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
EVAPORATIVE
Buildings
5
Stories
1
Units
10
Bathrooms
10
Total area
7,560 SF
Lot
1 ac (43,560 SF)
Zoning code
CR
APN
243-210-059-000
UPID
US10-1763412
Jurisdiction
TULARE
Zoning & alternative use
CR · Porterville, CA
Zoning CR · permitted uses
CR · Porterville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Porterville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
AUTO REPAIR, GARAGE
Est. value
$880,000
RETAIL STORES
Est. value
$835,000
AUTO REPAIR, GARAGE
RETAIL STORES
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
1972
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Cooling
Yes
Stories
1
Buildings
5
Units
10
Bathrooms
10
Lot
1 ac
Current owner
From public records · entity-resolved
Frazier Creek Investments LP
Entity
Mailing address
27277 AVE 196, STRATHMORE, CA 93267-9503
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
Oct 29, 2024
—
Frazier Creek Investments LP
Mitchell Brown
Grant Deed
—
Oct 4, 2012
$325,000
Mitchell Brown
1606 North Prospect LLC
Grant Deed
$100,000 · 1606 North Prospect LLC
May 1, 2012
—
1606 North Prospect LLC
Wiener Alan & Nancy Trust
Grant Deed
—
Jan 4, 2012
$100,000
Gensburg David S T Trust
Union Home Loan INC
Trustees Deed
related
—
Apr 22, 1994
—
James E Oakley
Oakley,laurel A
Quit Claim Deed
related
—
Apr 22, 1994
$102,000
Oakley,james E
Wagner,malcolm E
Trustees Deed
related
$41,514 · Security Trust Co
—
—
Mitchell Brown
—
Deed Of Trust
related
$250,000 · Bank Of The Sierra
—
—
James E Oakley
—
Deed Of Trust
related
$91,000 · Oakley Trust
—
—
James E Oakley
—
Deed Of Trust
related
$225,000 · Cmr Mortgage Fund LLC
—
—
James E Oakley
—
Deed Of Trust
related
$380,000 · Gensburg David S T Trust
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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