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Property profile & analytics
OFF-MARKET
Estimated value
$710,000
Apartment buildings
2245 Newcastle Ave Cardiff, CA 92007-1935
Entity Owned
21-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-9219280
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1962
Total area
3,072 SF
Lot
0.14 ac (6,168 SF)
Zoning code
COMMERCIAL
APN
261-071-35-00
UPID
US09-9219280
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
-
Joel Woldt Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$785k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$710k
Owner & transaction history
Pinhead 3 LLC · 21 yrs held
Pinhead 3 LLC
since 2004
3 recorded transactions
Zoning & alternative use
COMMERCIAL · Cardiff, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.2M
+21.3%
Office building
$1.1M
+14.5%
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 Cardiff submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Cardiff 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%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$965,000
Current use
AUTO REPAIR, GARAGE
$1,175,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$1,110,000
Change: +15% · Conversion: Moderate
WAREHOUSE, STORAGE
$870,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$710k
Range $639k – $781k · ±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
$231 / 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
$13,584
Tax year 2024
Assessed value
$1,082,221
Assessed 2024
Previous assessed
$1,082,221
+0.0% YoY
Effective rate
1.26%
On assessed value
Assessed land
$631,296
Assessed improvement
$450,925
Applied tax rate
19.0000
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
1962
Heating
NONE
Units
8
Bathrooms
8
Total area
3,072 SF
Lot
0.14 ac (6,168 SF)
Zoning code
COMMERCIAL
APN
261-071-35-00
UPID
US09-9219280
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Cardiff, CAZoning COMMERCIAL · permitted uses
COMMERCIAL · Cardiff, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
WAREHOUSE, STORAGE
Est. value
$870,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
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
1962
Heating
NONE
Units
8
Bathrooms
8
Lot
0.14 ac
Current owner
From public records · entity-resolved
Pinhead 3 LLC
Entity
Free & Clear · 21 yrs held
Mailing address
252 COAST BLVD, LA JOLLA, CA 92037-4609
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2004
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
Oct 6, 2004
—
Pinhead 3 LLC
Horowitz,eliot
Grant Deed
related
—
Sep 29, 2004
—
Eliot Horowitz
Horowitz,melissa
Quit Claim Deed
related
—
Sep 12, 1989
$620,000
Eliot M Horowitz
Newcastle Park A
Grant Deed
$110,000 · Goodman Saul
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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