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Property profile & analytics
OFF-MARKET
Estimated value
$6,840,000
Apartment buildings
228 Las Flores Dr 32 San Marcos, CA 92069-6061
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9730184
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Total area
18,472 SF
Lot
0.29 ac (12,554 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
219-113-51-00
UPID
US09-9730184
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
-
Overture San Marcos Apartment Building
-
San Marcos place apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.26M
CAP Approach
CAP
$4.72M
Comparable Approach
Comparable
$8.16M
Blend (final)
Blend
$6.84M
Owner & transaction history
Flores 22 LLC · 4 yrs held
Flores 22 LLC
since 2021
Last sale
$6.8M
7 recorded transactions
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · San Marcos, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$8.8M
+50.8%
Auto repair, garage
$7.1M
+21.3%
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 San Marcos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Marcos 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
$6,450,000
ML approach
$7,260,000
CAP Approach
CAP Return
Estimation
6%
$5,115,000
6.5%
$4,720,000
7%
$4,385,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,815,000
Current use
MEDICAL BUILDING
$8,765,000
Change: +51% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,050,000
Change: +21% · Conversion: Difficult
RETAIL STORES
$5,610,000
Change: -4% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,235,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$6.84M
Range $6.16M – $7.52M · ±10% · vs last sale $6.82M (Jul 26 2021)
Last sale anchor
$6.82M
Jul 26 2021
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
$370 / 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
$64,327
Tax year 2024
Assessed value
$4,952,304
Assessed 2024
Previous assessed
$4,952,304
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$1,310,904
Assessed improvement
$3,641,400
Applied tax rate
13.0000
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
1979
Heating
NONE
Units
22
Total area
18,472 SF
Lot
0.29 ac (12,554 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
219-113-51-00
UPID
US09-9730184
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · San Marcos, CA
Zoning R-3:RESTRICTED MULTIPLE · permitted uses
R-3:RESTRICTED MULTIPLE · San Marcos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Marcos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$5.8M
MEDICAL BUILDING
Est. value
$8.8M
AUTO REPAIR, GARAGE
Est. value
$7.1M
RETAIL STORES
Est. value
$5.6M
WAREHOUSE, STORAGE
Est. value
$5.2M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1979
Heating
NONE
Units
22
Lot
0.29 ac
Current owner
From public records · entity-resolved
Flores 22 LLC
Entity
Mailing address
261 N HWY 101ST #1160, SOLANA BEACH, CA 92075-1129
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 26, 2021
$6,820,000
Flores 22 LLC
Carv Properties LLC
Grant Deed
$50,000 · Mechanics Bank
Sep 4, 2018
—
Carv Properties LLC
—
Grant Deed
related
$3,200,000 · First Republic Bk
Aug 21, 2018
$4,600,000
Carv Properties LLC
Marshall D Wilson
Grant Deed
$3,200,000 · First Republic Bank
Aug 18, 1998
$905,000
Marshall D Wilson
Clove Income & Growth Reit
Grant Deed
$678,750 · Peninsula Bank San Diego
Dec 27, 1994
$675,000
Clover Income
Home Savings Of America
Grant Deed
$483,000 · Home Savings Of America
Dec 17, 1993
$590,000
Home Savings Of America
Singhal,dave & U
Trustees Deed
related
—
Jan 11, 1990
$1,145,000
San Diego Realty
Prout Raymond
Trustees Deed
—
Jan 11, 1990
—
Foothill Exchang
San Diego Realty
Trustees Deed
related
—
—
—
Dave Singhal
—
Deed Of Trust
related
$925,000 · Home Savings Of America
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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