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Property profile & analytics
FOR SALE
Apartment buildings
16459 Joy St Lake Elsinore, CA 92530
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2524541
For Sale
1 / 70
$4,000,000
16459 Joy St, Lake Elsinore, CA 92530
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1983
Construction
WOOD
Total area
1,090 SF
Lot
0.6 ac (26,136 SF)
Zoning code
CP
APN
379-132-006
UPID
US10-2524541
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
$2.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.57M
Blend (final)
Blend
$2.75M
Owner & transaction history
Chul Rho Young · 2 yrs held
Chul Rho Young
since 2024
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
CP · Lake Elsinore, 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 Lake Elsinore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elsinore 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
$2,750,000
ML approach
$2,750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.75M
Range $2.48M – $3.03M · ±10% · vs last sale $2.75M (Jul 15 2024)
Last sale anchor
$2.75M
Jul 15 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
$2,523 / 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
$20,555
Tax year 2024
Assessed value
$1,950,750
Assessed 2024
Previous assessed
$1,950,750
+0.0% YoY
Effective rate
1.05%
On assessed value
Assessed land
$1,040,400
Assessed improvement
$910,350
Applied tax rate
5.0000
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
For Sale
Year built
1983
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
3
Stories
2
Units
4
Total area
1,090 SF
Lot
0.6 ac (26,136 SF)
Zoning code
CP
APN
379-132-006
UPID
US10-2524541
Jurisdiction
RIVERSIDE
Zoning & alternative use
CP · Lake Elsinore, CA
Zoning CP · permitted uses
CP · Lake Elsinore, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Elsinore. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1983
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
3
Units
4
Lot
0.6 ac
Current owner
From public records · entity-resolved
Chul Rho Young
Individual
Mailing address
5160 CORAL RDG CIR, BUENA PARK, CA 90621-1428
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2024
$2,750,000
Chul Rho Young
1152 First LLC
Grant Deed
$166,000 · Deephaven Mortgage LLC
Sep 28, 2022
—
1152 First LLC
Terry L Young
Quit Claim Deed
related
—
Feb 20, 2015
$1,200,000
Pi Properties #76 LLC
Hensel Abdelal Housing Partnership
Grant Deed
$830,000 · Provident Savings Bank Fsb
Jun 11, 2003
$750,000
Hensel-abdel Al Housing Ptshp
Boardman,michael A
Grant Deed
$562,500 · Impac Multifamily Capital Corp
Aug 1, 1997
—
Michael A Boardman
Boardman,deborah L
Quit Claim Deed
related
—
Aug 1, 1997
$314,590
Boardman,michael A
State Street Bank & Trust Co
Trustees Deed
$236,250 · Highland Federal Bank
Feb 9, 1996
$285,000
State St Bank & Trust Trustee
Watanabe,steven F & Carolyn H
Trustees Deed
related
—
—
—
Michael A Boardman
—
Deed Of Trust
related
$20,000 · Individual
—
—
Michael A Boardman
—
Deed Of Trust
related
$947,000 · Impac Commercial Capital Corp
—
—
Steven Watanabe
—
Deed Of Trust
related
$550,000 · Gibraltar Savings Bank Fsb
—
—
Michael A Boardman
—
Deed Of Trust
related
$90,000 · Individual
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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