2243 Merton Ave Los Angeles, CA 90041-1914
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Estimated value (blended)
$7.73M
Range $6.95M – $8.50M (±10%)
Property ID
US09-7325183
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Construction
WOOD
Total area
22,956 SF
Lot
0.87 ac (37,833 SF)
Zoning code
LARD1.5
APN
5686-002-026
UPID
US09-7325183
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.78M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.73M
Owner & transaction history
since 2021
Last sale
$9.1M
7 recorded transactions
Zoning & alternative use
LARD1.5 · Los Angeles, CA
Top alternative use upside
Auto repair, garage
$12.5M
+55.4%
Office building
$11.5M
+43.4%
Medical building
$10.5M
+30.2%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 22 comparables with addresses
7 alternative uses screened
Sensitivity value band
Source audit · 10 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$7.73M
Value range
$6.95M – $8.50M
±10% around blend
Estimated value / SF
$337 / SF
Confidence
High
22 county-verified comps
Property data
75
Market benchmarks
100
Comparable evidence
100
$6.95M
blend $7.73M
$8.50M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
22,956 SF
Lot area
0.87 ac
Year built
1950
APN
5686-002-026
Assessed value
$9,476,165
Annual tax
$117,490
3
Income approach: direct capitalization
Partial preview
Not enough income data on file for a CAP-approach estimation.
4
Sales comparison
Partial preview
Sales approach indication
$7.08M
Weighted, 20 comps · high confidence
Evidence
22 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
2.6 mi away · 23,234 SF
2.9 mi away · 24,585 SF
2.9 mi away · 20,733 SF
3.6 mi away · 18,373 SF
4.3 mi away · 20,447 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$7.73M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 26 sales
$350
-4%
Submarket 4649 sales
$251
+34%
County 11934 sales
$264
+28%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $337/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Auto Repair, Garage
Gross theoretical uplift
+55%
vs current-use indication
Office Building
Medical Building
Neighborhood: Shopping Center
Retail Stores
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
Not available
Operating expenses
Not available
Market rent
Not available
Actual rent roll
Not available
Tenant leases
Not available
Physical condition
Not inspected
Conversion costs
Not available
Not analyzed due to unavailable source data: tenant leases, physical condition and capital
requirements were not available for this desktop analysis. Cost Approach excluded due to
availability of income evidence.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
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Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 22 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
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Overview
No cap rate is computable for this property yet: no recorded sale, income signal or market-rate row for its use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$9.10M
Move the market yield to see immediate price impact.
Value / SF
$396
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.00%7.00%9.00%
$573k
$11.47M
$8.19M
$6.37M
$637k
$12.74M
$9.10M
$7.08M
$701k
$14.01M
$10.01M
$7.79M
NOI sensitivity ±10% across the 5 / 7 / 9% anchors — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
22 found
High confidence · county-verified
Closest comparable
$6.68M
2.0 mi · Oct 2025 · $356/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$117,490
Tax year 2024
Assessed value
$9,476,165
Assessed 2024
Previous assessed
$9,476,165
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$2,080,800
Assessed improvement
$7,395,365
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
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
1950
Construction
WOOD
Heating
NONE
Cooling
YES
Buildings
3
Units
28
Bathrooms
29
Total area
22,956 SF
Lot
0.87 ac (37,833 SF)
Zoning code
LARD1.5
APN
5686-002-026
UPID
US09-7325183
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LARD1.5 · Los Angeles, CAZoning LARD1.5 · permitted uses
LARD1.5 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1950
Construction
WOOD
Heating
NONE
Cooling
Yes
Buildings
3
Units
28
Bathrooms
29
Lot
0.87 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
LARD1.5
Jurisdiction
Los Angeles, CA
Recorded code
LARD1.5
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for LARD1.5 in Los Angeles, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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