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    Property profile & analytics

    22600 Ellis Ave Perris, CA 92570-8555

    • Apartment buildings
    • 1,942 SF
    • 2.37 lot acres
    OFF-MARKET
    Value Estimations
    $350,000
    Show details
    Cap Rate Potential
    9.2%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-2988855
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 22600 Ellis Ave

    Year built
    1950
    Construction
    WOOD
    Lot size
    2.37 lot acres
    Property size
    1,942 SF
    Zone code
    RR
    Property type
    Apartment buildings
    APN
    325-200-026
    APU
    325200026

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $340,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $505,000
      6.5%
      $465,000
      7%
      $430,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.268
    Latitude
    33.773
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $2,265
    $54,939
    $134,088
    $189,027
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,020,000
      3,922 SF

      1355 Perris Blvd

      APARTMENT HOUSE (5+ UNITS) • 3,922 SF
      1355 Perris Blvd, Perris, CA 92570-2584
      View Details
    • Value Estimation
      $335,000
      3,317 SF

      116 Midway St

      APARTMENT HOUSE (5+ UNITS) • 3,317 SF
      116 Midway St, Perris, CA 92570-3517
      View Details
    • Value Estimation
      $295,000
      2,456 SF

      1040 Tepee Ln

      APARTMENT HOUSE (5+ UNITS) • 2,456 SF
      1040 Tepee Ln, Perris, CA 92570-1743
      View Details
    • Value Estimation
      $310,000
      2,640 SF

      179 5th St

      APARTMENT HOUSE (5+ UNITS) • 2,640 SF
      179 5th St, Perris, CA 92570-2118
      View Details
    • Value Estimation
      $595,000
      1,516 SF

      403 B St

      APARTMENT HOUSE (5+ UNITS) • 1,516 SF
      403 B St, Perris, CA 92570-2052
      View Details
    • Value Estimation
      $645,000
      5,760 SF

      549 D St

      APARTMENT HOUSE (100+ UNITS) • 5,760 SF
      549 D St, Perris, CA 92570-1926
      View Details

    Similar Nearby for Sale

    • $375,000

      Perris Duplex: Investment Opportunity

      Two-unit property in Perris with expansion potential.
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    • $415,000
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      Two Mobile Homes on Large Lot

      Two mobile homes on a spacious 0.58-acre lot.
      20301 Jefferson St, Perris, CA 92570
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    • $2,750,000
      116.00 Acres

      Perris Residential Land - 116 Acres

      Prime Riverside County acreage, ideal for development.
      21385 Orange Ave, Perris, CA 92570
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    • $998,000

      Perris Mountain View Development Land

      Residential Land, Two Parcels, $998,000
      18954 Day St, Perris, CA 92570
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    • $4,145,610
      1,040 SF

      Perris Land Assemblage Opportunity

      3.07 acre Perris property with commercial/industrial zoning change potential.
      21105 Webster Ave, Perris, CA 92570
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    • $4,145,610
      2,428 SF

      Perris Land Assemblage Opportunity

      3.07 acres in Perris, CA, with commercial/industrial zoning potential.
      21063 Webster Ave, Perris, CA 92570
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      423 SF

      Perris Freestanding Industrial Building

      Freestanding industrial building featuring secured truck court and ample parking.
      20123 Harvill Ave, Perris, CA 92570
      View Details
    • Contact for pricing
      53,275 SF

      Perris Crossdock Warehouse for Rent

      53,275 SF crossdock warehouse with fenced yard and freeway access.
      19885 Harvill Ave, Perris, CA 92570
      View Details
    • Contact for pricing
      100,121 SF

      Warehouse with Fenced Yard

      4,200 SF warehouse with a 5,300 SF fenced yard.
      2133 Paseo Adelanto Dr, Perris, CA 92570
      View Details
    • $0.95 SF/Yr
      330,735 SF

      Perris Warehouse with Freeway Visibility

      Large warehouse with office space and freeway exposure available for lease.
      23840 Rider St, Perris, CA 92570
      View Details
    • Contact for pricing
      1,600 SF

      Freestanding QSR Opportunity

      Freestanding and interior QSR spaces available with ample truck parking.
      23261 Cajalco Rd, Perris, CA 92570
      View Details
    • Contact for pricing
      429,823 SF

      Harvill Business Center Industrial Space

      Industrial space available for lease in Harvill Business Center.
      23784 Orange Ave, Perris, CA 92570
      View Details
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    22600 Ellis Ave
    Perris, CA 92570-8555
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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