Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    228 Hillcrest Ave Marina, CA 93933-3523
    Back to Search
    Property profile & analytics

    228 Hillcrest Ave, Marina, CA 93933-3523

    View on Map
    • Apartment buildings
    • 0.39 lot acres
    Off-Market
    Last Sale Dec 19, 2024
    Property ID
    US09-2532389
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 228 Hillcrest Ave

    Lot size
    0.39 lot acres
    Property type
    Apartment buildings
    APN
    032-311-020-000
    APU
    32311020000

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Oct 21, 2025 — The Yang Family Living Trust Robert F Yang Deed · related —
    Dec 19, 2024 — Robert F Yang Robert F Yang Deed · related —
    Aug 25, 1995 — Felix Trust Felix,annie Quit Claim Deed · related —

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Marina
    County
    Monterey
    State
    California
    Longitude
    -121.802
    Latitude
    36.6813
    CBSA code
    41500
    CBSA name
    SALINAS, 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
    2023
    $8,206
    $182,798
    $535,962
    $718,760
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation by Request
      1.58 Acres

      21231 Ord Ave

      APARTMENT HOUSE (100+ UNITS)
      21231 Ord Ave, Marina, CA 93933-5260
      View Details
    • Value Estimation by Request
      0.90 Acres

      3082 Sunset Ave

      APARTMENT HOUSE (100+ UNITS)
      3082 Sunset Ave, Marina, CA 93933-3556
      View Details
    • Value Estimation by Request
      0.84 Acres

      3270 Del Monte Blvd

      APARTMENT HOUSE (100+ UNITS)
      3270 Del Monte Blvd, Marina, CA 93933-2420
      View Details
    • Value Estimation
      $635,000
      3,182 SF

      3038 Owen Ave

      APARTMENT HOUSE (5+ UNITS)
      3038 Owen Ave, Marina, CA 93933-3844
      View Details
    • Value Estimation
      $1,300,000
      5,779 SF

      205 Cosky Dr

      APARTMENT HOUSE (100+ UNITS)
      205 Cosky Dr, Marina, CA 93933-2306
      View Details
    • Value Estimation
      $2,145,000
      0.42 Acres

      3131 Bayer St

      APARTMENT HOUSE (5+ UNITS)
      3131 Bayer St, Marina, CA 93933-3446
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      12,240 SF

      Marina Multifamily Investment Opportunity

      15-unit apartment complex near Highway 1 in Marina, CA.
      3110 Lake Dr, Marina, CA 93933
      View Details
    • $389,000

      Charming Mobile Home in Marina

      Well-maintained 3 bed, 2 bath mobile home near Monterey Bay.
      347 Carmel Ave, Marina, CA 93933
      View Details
    • Contact for pricing

      Land with Development Potential

      Land available for commercial or residential development.
      150 Beach Rd, Marina, CA 93933
      View Details
    • Contact for pricing

      Land with Restaurant Development Potential

      Land available with water rights and residential zoning.
      172 Seaside Cir, Marina, CA 93933
      View Details
    • $150,000
      2,188 SF

      Commercial Property in Marina, California

      Commercial property for sale in Monterey County.
      215 Reservation Rd, Marina, CA 93933
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Mixed-Use Development Near Monterey Bay

      Mixed-use property in Marina, CA, near the Pacific Ocean.
      140 10Th St, Marina, CA 93933
      View Details
    • Contact for pricing
      1,805 SF

      Retail Space in Planned Community

      Retail space available within a large, mixed-use development.
      99 General Stilwell Dr, Marina, CA 93933
      View Details
    • Contact for pricing
      1,350 SF

      Prime Retail Space in Marina

      Spacious retail space in a prime location near CSUMB.
      266 Reservation Rd, Marina, CA 93933
      View Details
    • Contact for pricing

      High Visibility Commercial Space Available

      Excellent location with high traffic and pull-up parking.
      3056 Del Monte Blvd, Marina, CA 93933
      View Details
    • Contact for pricing
      2,400 SF

      High-Visibility Retail Space Available

      Neighborhood convenience store with high visibility and accessibility.
      320 Reservation Rd, Marina, CA 93933
      View Details
    • Contact for pricing
      1,440 SF

      Industrial Space for Light Manufacturing

      1,440 SF suite suitable for light industrial uses.
      455 Reservation Rd, Marina, CA 93933
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    228 Hillcrest Ave
    Marina, CA 93933-3523
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    228 Hillcrest Ave, Marina, CA, 93933
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!