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Property profile & analytics
OFF-MARKET
Estimated value
$500,000
Apartment buildings
216 Dunes St, Morro Bay, CA 93442-2102
Trust Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1023331
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1938
Total area
2,313 SF
Lot
0.2 ac (8,600 SF)
Zoning code
CVS
APN
066-291-005
UPID
US09-1023331
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
$340k
CAP Approach
CAP
$685k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$500k
Owner & transaction history
Contento,george C Family Trust · 7 yrs held
Contento,george C Family Trust
since 2018
3 recorded transactions
Zoning & alternative use
CVS · Morro Bay, 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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
$340,000
CAP Approach
CAP Return
Estimation
6%
$745,000
6.5%
$685,000
7%
$640,000
Alternative Use
Use
Estimation
RETAIL STORES
$750,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$500k
Range $450k – $550k · ±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
$216 / 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
$6,578
Tax year 2024
Assessed value
$595,181
Assessed 2024
Previous assessed
$595,181
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$376,701
Assessed improvement
$218,480
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
1938
Heating
NONE
Rooms
10
Bathrooms
4
Total area
2,313 SF
Lot
0.2 ac (8,600 SF)
Zoning code
CVS
APN
066-291-005
UPID
US09-1023331
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CVS · Morro Bay, CA
Zoning CVS · permitted uses
CVS · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$750,000
RETAIL STORES
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
1938
Heating
NONE
Rooms
10
Bathrooms
4
Lot
0.2 ac
Current owner
From public records · entity-resolved
Contento,george C Family Trust
Trust
Mailing address
740 CTR CT, MORRO BAY, CA 93442-2827
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 13, 2018
—
Contento,george C Family Trust
Contento,george C
Quit Claim Deed
related
—
Jun 16, 2000
$400,000
George C Contento
Tefft,james R & Marilyn L
Grant Deed
—
Apr 25, 1996
—
Graetz Trust
Graetz,bernhard & Elfriede
Quit Claim Deed
related
—
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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