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Property profile & analytics
OFF-MARKET
Estimated value
$4,970,000
Apartment buildings
2120 Villa Ave Clovis, CA 93612-3676
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-2896806
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1976
Construction
WOOD
Total area
33,656 SF
Lot
1.97 ac (85,813 SF)
Zoning code
R3
APN
499-230-54
UPID
US09-2896806
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
-
Edgewood Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$6.78M
Comparable Approach
Comparable
$5.04M
Blend (final)
Blend
$4.97M
Owner & transaction history
Velasco Martinez Investments LLC · 5 yrs held
Velasco Martinez Investments LLC
since 2021
7 recorded transactions
Zoning & alternative use
R3 · Clovis, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.2M
+62.4%
Office building
$6.8M
+53.6%
Medical building
$6.6M
+48.6%
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 Clovis submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Clovis 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%
$7,345,000
6.5%
$6,780,000
7%
$6,295,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,415,000
Current use
RESTAURANT
$7,175,000
Change: +62% · Conversion: Difficult
OFFICE BUILDING
$6,785,000
Change: +54% · Conversion: Moderate
MEDICAL BUILDING
$6,565,000
Change: +49% · Conversion: Moderate
RETAIL STORES
$6,530,000
Change: +48% · Conversion: Difficult
AUTO REPAIR, GARAGE
$4,940,000
Change: +12% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$3,585,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$4.97M
Range $4.47M – $5.47M · ±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
$148 / 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
$47,276
Tax year 2023
Assessed value
$3,926,813
Assessed 2023
Previous assessed
$3,926,813
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$384,852
Assessed improvement
$3,541,961
Applied tax rate
1.0000
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
1976
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Units
50
Bathrooms
50
Total area
33,656 SF
Lot
1.97 ac (85,813 SF)
Zoning code
R3
APN
499-230-54
UPID
US09-2896806
Jurisdiction
FRESNO
Zoning & alternative use
R3 · Clovis, CA
Zoning R3 · permitted uses
R3 · Clovis, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Clovis. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.4M
RESTAURANT
Est. value
$7.2M
OFFICE BUILDING
Est. value
$6.8M
MEDICAL BUILDING
Est. value
$6.6M
RETAIL STORES
Est. value
$6.5M
AUTO REPAIR, GARAGE
Est. value
$4.9M
INDUSTRIAL (GENERAL)
Est. value
$3.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
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
1976
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
50
Bathrooms
50
Lot
1.97 ac
Current owner
From public records · entity-resolved
Velasco Martinez Investments LLC
Entity
Mailing address
297 POPLAR AVE, MILLBRAE, CA 94030-2448
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
May 11, 2021
—
Velasco Martinez Investments LLC
118 Adams Crossing LLC
Grant Deed
$3,715,000 · Readycap Commercial LLC
Apr 28, 2021
—
Velasco Martinez Investments LLC
118 Adams Crossing LLC
Grant Deed
—
Dec 16, 2016
$3,500,000
118 Adams Crossing LLC
Vic Alberti
Grant Deed
—
Apr 1, 2003
—
Dale L Grothmann
Grothmann,tr
Quit Claim Deed
related
—
Jan 16, 2003
$1,500,000
Vic Alberti
Thomas,l Tr
Grant Deed
—
Nov 1, 1999
$177,395
Thomas Ttee
Olson,richard E
Trustees Deed
—
Jul 27, 1993
$1,440,000
Olson Trust
Thomas Leong Tru
Grant Deed
$980,000 · Home Savings Of America
Aug 24, 1981
$471,000
—
—
Grant Deed
related
—
—
—
Vic Alberti
—
Deed Of Trust
related
$1,125,000 · Abn Amro Mortgage Group INC
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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