Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,245,000
Apartment buildings
2039 L Ave National City, CA 91950-5929
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7130264
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Total area
16,346 SF
Lot
0.51 ac (22,215 SF)
Zoning code
COMMERCIAL
APN
561-290-29-00
UPID
US09-7130264
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
$2.25M
Owner & transaction history
Mr South Place LLC · 4 yrs held
Mr South Place LLC
since 2022
5 recorded transactions
Zoning & alternative use
COMMERCIAL · National City, 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 National City submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs National City 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$137 / 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
$48,449
Tax year 2024
Assessed value
$3,038,659
Assessed 2024
Previous assessed
$3,038,659
+0.0% YoY
Effective rate
1.59%
On assessed value
Assessed land
$1,192,742
Assessed improvement
$1,845,917
Applied tax rate
6.0000
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
1971
Heating
NONE
Units
28
Total area
16,346 SF
Lot
0.51 ac (22,215 SF)
Zoning code
COMMERCIAL
APN
561-290-29-00
UPID
US09-7130264
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · National City, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · National City, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
National City. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Units
28
Lot
0.51 ac
Current owner
From public records · entity-resolved
Mr South Place LLC
Entity
Mailing address
7676 ENGINEER RD, SAN DIEGO, CA 92111-1516
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Mar 18, 2022
—
Mr South Place LLC
Roberto P Walz
Grant Deed
—
Sep 4, 2007
—
Robert P Walz
Roberto Walz
Intrafamily Transfer
related
$1,500,000 · Washington Mutual Bank
May 8, 2003
$2,150,000
Roberto Walz
Lefvre,gregory R & Robin C
Grant Deed
$1,712,600 · Abn Amro Mortgage Group INC
May 8, 2003
—
Gregory R Lefevre
Web Service Co INC
Quit Claim Deed
related
—
Dec 31, 1998
$840,000
Westrend Group LP
Quinn Family Partnership
Grant Deed
$617,500 · Washington Mutual Fsb
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
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2039 L Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
