Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$18,840,000
Apartment buildings
20405 Sherman Way Winnetka, CA 91306-3162
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-7822426
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
WOOD
Total area
74,187 SF
Lot
1.71 ac (74,434 SF)
Zoning code
LAR3
APN
2114-017-020
UPID
US09-7822426
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
$18.37M
Comparable Approach
Comparable
$19.94M
Blend (final)
Blend
$18.84M
Owner & transaction history
Shermanair Apartments Owner LP · 4 yrs held
Shermanair Apartments Owner LP
since 2021
Last sale
$19.2M
7 recorded transactions
Zoning & alternative use
LAR3 · Winnetka, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$23.9M
+77.6%
Industrial (general)
$22.4M
+66.3%
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 Winnetka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Winnetka 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
$17,500,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$19,895,000
6.5%
$18,365,000
7%
$17,055,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$13,455,000
Current use
OFFICE BUILDING
$23,900,000
Change: +78% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$22,380,000
Change: +66% · Conversion: Difficult
Blend value · Realmo final
$18.84M
Range $16.96M – $20.72M · ±10% · vs last sale $19.20M (Sep 16 2021)
Last sale anchor
$19.20M
Sep 16 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
$254 / 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
$8,056
Tax year 2024
Assessed value
$19,975,680
Assessed 2024
Previous assessed
$19,975,680
+0.0% YoY
Effective rate
0.04%
On assessed value
Assessed land
$5,805,432
Assessed improvement
$14,170,248
Applied tax rate
8.0000
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
1964
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
82
Bathrooms
87
Total area
74,187 SF
Lot
1.71 ac (74,434 SF)
Zoning code
LAR3
APN
2114-017-020
UPID
US09-7822426
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR3 · Winnetka, CA
Zoning LAR3 · permitted uses
LAR3 · Winnetka, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Winnetka. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$13.5M
OFFICE BUILDING
Est. value
$23.9M
INDUSTRIAL (GENERAL)
Est. value
$22.4M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
INDUSTRIAL (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
1964
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
82
Bathrooms
87
Lot
1.71 ac
Current owner
From public records · entity-resolved
Shermanair Apartments Owner LP
Entity
Mailing address
2063 NW CABOT LK CT, BEND, OR 97703-5574
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 16, 2021
$19,200,000
Shermanair Apartments Owner LP
Sherman Way Investors LP
Grant Deed
$28,475,000 · California Housing Finance Agency
Oct 7, 2016
—
Sherman Way Investors LP
—
Deed
related
$9,000,000 · Pacific Western National Bank
Jul 6, 2015
$9,350,000
Sherman Way Investors LP
Cc Fund II LLC
Grant Deed
$8,700,000 · Ladder Cap Fin
May 25, 2010
—
Cc Fund II LLC
C & R Canoga Park
Grant Deed
$4,000,000 · East West Bank
Oct 21, 2003
—
Richard H Hu
Hu,tr
Quit Claim Deed
related
—
Jul 23, 1993
$854,500
Richard H Hu
Sherman Property
Grant Deed
$390,000 · Sherman Property
Feb 5, 1988
—
Prop Sherman
Sherm
Quit Claim Deed
related
$2,300,000 · World Savings & Loan
—
—
Hu Trust
—
Deed Of Trust
related
$593,000 · Us Small Business Admn
—
—
Hu Trust
—
Deed Of Trust
related
$124,200 · Us Small Business Admn
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 20405 Sherman Way?
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.
