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Property profile & analytics
OFF-MARKET
Estimated value
$2,385,000
Apartment buildings
231 Elm Ave 47 Imperial Beach, CA 91932-1952
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-8848264
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
5,910 SF
Lot
0.22 ac (9,680 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
625-361-24-00
UPID
US09-8848264
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.20M
CAP Approach
CAP
$1.51M
Comparable Approach
Comparable
$2.42M
Blend (final)
Blend
$2.39M
Owner & transaction history
Elm Ave Apts LLC · 3 yrs held
Elm Ave Apts LLC
since 2023
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · Imperial Beach, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.9M
+106.2%
Medical building
$2.8M
+49.3%
Retail stores
$2.5M
+32.0%
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 Imperial Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Imperial Beach 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
$2,260,000
ML approach
$2,195,000
CAP Approach
CAP Return
Estimation
6%
$1,635,000
6.5%
$1,510,000
7%
$1,405,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,880,000
Current use
RESTAURANT
$3,875,000
Change: +106% · Conversion: Difficult
MEDICAL BUILDING
$2,805,000
Change: +49% · Conversion: Moderate
RETAIL STORES
$2,480,000
Change: +32% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,255,000
Change: +20% · Conversion: Difficult
OFFICE BUILDING
$2,130,000
Change: +13% · Conversion: Moderate
Blend value · Realmo final
$2.39M
Range $2.15M – $2.62M · ±10% · vs last sale $2.52M (Apr 14 2023)
Last sale anchor
$2.52M
Apr 14 2023
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
$404 / 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
$33,032
Tax year 2024
Assessed value
$2,573,460
Assessed 2024
Previous assessed
$2,573,460
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$1,632,000
Assessed improvement
$941,460
Applied tax rate
14.0000
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
1980
Heating
NONE
Units
8
Bathrooms
10
Total area
5,910 SF
Lot
0.22 ac (9,680 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
625-361-24-00
UPID
US09-8848264
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · Imperial Beach, CA
Zoning R-3:RESTRICTED MULTIPLE · permitted uses
R-3:RESTRICTED MULTIPLE · Imperial Beach, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Imperial Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.9M
RESTAURANT
Est. value
$3.9M
MEDICAL BUILDING
Est. value
$2.8M
RETAIL STORES
Est. value
$2.5M
AUTO REPAIR, GARAGE
Est. value
$2.3M
OFFICE BUILDING
Est. value
$2.1M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
RETAIL STORES
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1980
Heating
NONE
Units
8
Bathrooms
10
Lot
0.22 ac
Current owner
From public records · entity-resolved
Elm Ave Apts LLC
Entity
Mailing address
PO BOX 21010, EL CAJON, CA 92021-0980
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 9, 2026
—
Elm Ave Apts LLC
—
Deed
related
$1,350,000 · Jpmorgan Chase Bank NA
Apr 14, 2023
$2,523,000
Elm Ave Apts LLC
John E Perno
Grant Deed
$1,300,000 · Mark D Mcmillin Legacy Trust
Jan 18, 2017
—
Perno,john E Living Trust
Perno,john
Quit Claim Deed
related
—
Dec 1, 2016
—
John Perno
Winkelman Alan J 1995 Trust
Quit Claim Deed
related
—
Sep 8, 2016
—
John Perno
Winkelman,alan J
Affidavit Of Death
related
—
Jun 21, 1995
—
Alan J Etal Winkelman
Winkelman,alan J
Quit Claim Deed
related
—
Jan 7, 1994
$400,000
Alan J Winkelman
Copes Trust
Grant Deed
$280,000 · Home Savings Of America
—
—
Winkelman Trust
—
Deed Of Trust
related
$250,000 · Pacific Commerce Bank
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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