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Property profile & analytics
OFF-MARKET
Estimated value
$665,000
Apartment buildings
187 Palm Ave, Marina, CA 93933-2951
Entity Owned
26-yr Hold
~
Est. High Equity
Property ID
US09-3126136
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1978
Construction
WOOD
Total area
2,400 SF
APN
033-151-016-000
UPID
US09-3126136
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
-
Marina Del Sol Apartments Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$900k
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$499k
Blend (final)
Blend
$665k
Owner & transaction history
Marina Del Sol LLC · 26 yrs held
Marina Del Sol LLC
since 2000
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$995,000
+4.7%
Auto repair, garage
$955,000
+0.9%
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 Marina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Marina 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
$900,000
CAP Approach
CAP Return
Estimation
6%
$645,000
6.5%
$595,000
7%
$550,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$950,000
Current use
OFFICE BUILDING
$995,000
Change: +5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$955,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$910,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$665k
Range $599k – $732k · ±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
$277 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$28,479
Tax year 2023
Assessed value
$2,475,071
Assessed 2023
Previous assessed
$2,475,071
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$166,052
Assessed improvement
$2,309,019
Applied tax rate
12.0000
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
1978
Construction
WOOD
Heating
NONE
Buildings
8
Stories
1
Units
4
Rooms
16
Bathrooms
4
Total area
2,400 SF
APN
033-151-016-000
UPID
US09-3126136
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$950,000
OFFICE BUILDING
Est. value
$995,000
AUTO REPAIR, GARAGE
Est. value
$955,000
COMMERCIAL (GENERAL)
Est. value
$910,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1978
Construction
WOOD
Heating
NONE
Stories
1
Buildings
8
Units
4
Rooms
16
Bathrooms
4
Current owner
From public records · entity-resolved
Marina Del Sol LLC
Entity
Mailing address
PO BOX 7608, SPRECKELS, CA 93962-7608
Ownership since
2000
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
Nov 18, 2019
—
Marina Del Sol LLC
—
Deed
related
$8,500,000 · Cantor Com'l R/e Lndg
Apr 20, 2000
—
Marina Del Sol LLC
Marina Del Sol LLC
Quit Claim Deed
related
—
—
—
Marina Del Sol LLC
—
Deed Of Trust
related
$8,500,000 · Cantor Com'l R/e Lndg
—
—
Marina Delsol
—
Deed Of Trust
related
$3,900,000 · Wells Fargo Bank
—
—
Marinda Del Sol LLC
—
Deed Of Trust
related
$4,900,000 · Berkshire Mortgage Finance Co
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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