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Property profile & analytics
OFF-MARKET
Estimated value
$2,960,000
Apartment buildings
218 Nicholson Ave Monterey Park, CA 91755-1833
Entity Owned
Absentee Owner
Free & Clear
Property ID
US09-7757343
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1969
Construction
WOOD
Total area
8,273 SF
Lot
0.39 ac (17,117 SF)
Zoning code
MPR3YY
APN
5255-019-027
UPID
US09-7757343
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
$2.98M
CAP Approach
CAP
$2.05M
Comparable Approach
Comparable
$2.92M
Blend (final)
Blend
$2.96M
Owner & transaction history
232 Mp LLC
232 Mp LLC
since 2025
Last sale
$3.5M
5 recorded transactions
Zoning & alternative use
MPR3YY · Monterey Park, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$3.8M
+62.5%
Medical building
$3.8M
+59.7%
Retail stores
$3.2M
+34.6%
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 Monterey Park submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Monterey Park 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
$2,915,000
ML approach
$2,975,000
CAP Approach
CAP Return
Estimation
6%
$2,220,000
6.5%
$2,050,000
7%
$1,900,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,355,000
Current use
AUTO REPAIR, GARAGE
$3,825,000
Change: +62% · Conversion: Difficult
MEDICAL BUILDING
$3,760,000
Change: +60% · Conversion: Moderate
RETAIL STORES
$3,170,000
Change: +35% · Conversion: Difficult
OFFICE BUILDING
$3,130,000
Change: +33% · Conversion: Moderate
COMMERCIAL (GENERAL)
$2,555,000
Change: +9% · Conversion: Moderate
Blend value · Realmo final
$2.96M
Range $2.66M – $3.26M · ±10% · vs last sale $3.45M (May 22 2025)
Last sale anchor
$3.45M
May 22 2025
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
$358 / 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
$44,784
Tax year 2024
Assessed value
$3,329,280
Assessed 2024
Previous assessed
$3,329,280
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$2,080,800
Assessed improvement
$1,248,480
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
1969
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
8
Bathrooms
9
Total area
8,273 SF
Lot
0.39 ac (17,117 SF)
Zoning code
MPR3YY
APN
5255-019-027
UPID
US09-7757343
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
MPR3YY · Monterey Park, CA
Zoning MPR3YY · permitted uses
MPR3YY · Monterey Park, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Monterey Park. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$3.8M
MEDICAL BUILDING
Est. value
$3.8M
RETAIL STORES
Est. value
$3.2M
OFFICE BUILDING
Est. value
$3.1M
COMMERCIAL (GENERAL)
Est. value
$2.6M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
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
1969
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
8
Bathrooms
9
Lot
0.39 ac
Current owner
From public records · entity-resolved
232 Mp LLC
Entity
Free & Clear · 0 yrs held
Mailing address
5622 ROSEMEAD BLVD, TEMPLE CITY, CA 91780-1803
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Aug 22, 2025
$3,450,000
232 Mp LLC
Senestart LLC
Grant Deed
—
Aug 10, 2022
—
Benestart LLC
—
Deed
related
$1,450,000 · Ctbc Bank Corp USA
Dec 3, 2021
$3,200,000
Benestart LLC
Jerry Wah Gee
Grant Deed
—
Dec 3, 2021
—
Jerry W Gee
Sue Mae Gee
Affidavit Death Of Trustee/successor Trustee
related
—
Mar 2, 2005
—
Gee Robert & Sue M Trust
Gee R & S Trust
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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