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Property profile & analytics
OFF-MARKET
Estimated value
$108,195,000
Apartment buildings
1849 Baywood Dr Corona, CA 92881-6401
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3695434
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1988
Construction
WOOD
Total area
164,712 SF
Lot
10 ac (435,600 SF)
Zoning code
R3
APN
107-170-063
UPID
US09-3695434
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
by Request
Blend (final)
Blend
$108.20M
Owner & transaction history
Raintree Corona Poite LLC · 4 yrs held
Raintree Corona Poite LLC
since 2021
Last sale
$122.1M
5 recorded transactions
Zoning & alternative use
R3 · Corona, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$168.6M
+36.3%
Neighborhood: shopping center
$141.8M
+14.6%
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 Corona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corona 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
APARTMENT HOUSE (5+ UNITS)
$123,715,000
Current use
COMMERCIAL (GENERAL)
$168,620,000
Change: +36% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$141,780,000
Change: +15% · Conversion: Difficult
RESTAURANT
$102,255,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$108.20M
Range $97.38M – $119.01M · ±10% · vs last sale $122.10M (Dec 22 2021)
Last sale anchor
$122.10M
Dec 22 2021
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
$657 / 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
$926,307
Tax year 2024
Assessed value
$83,274,244
Assessed 2024
Previous assessed
$83,274,244
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$8,947,440
Assessed improvement
$74,326,804
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 (100+ UNITS)
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
NONE
Stories
2
Total area
164,712 SF
Lot
10 ac (435,600 SF)
Zoning code
R3
APN
107-170-063
UPID
US09-3695434
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Corona, CA
Zoning R3 · permitted uses
R3 · Corona, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Corona. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$123.7M
COMMERCIAL (GENERAL)
Est. value
$168.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$141.8M
RESTAURANT
Est. value
$102.3M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
RESTAURANT
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
1988
Construction
WOOD
Heating
NONE
Stories
2
Lot
10 ac
Current owner
From public records · entity-resolved
Raintree Corona Poite LLC
Entity
Mailing address
34052 LA PLZ STE #201, DANA POINT, CA 92629-2572
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
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
Dec 22, 2021
$122,100,000
Raintree Corona Poite LLC
Fairfield Waterstone LLC
Grant Deed
—
Jan 22, 2018
$45,500,000
Fairfield Waterstone LLC
Waterstone III Apts Nf LP
Grant Deed
—
Jul 2, 2013
—
Waterstone I Apartments Nf LP
—
Deed Of Trust
related
$75,000,000 · Bank Of America
Jun 26, 2007
—
Waterstone III Apartments Nf LP
Ws 3 Investors LP
Grant Deed
$91,750,000 · Ubs Real Estate Securities INC
Mar 30, 2006
—
Ws 3 Investors LP
Ppc Baywood Venture LLC
Grant Deed
—
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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