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Property profile & analytics
OFF-MARKET
Estimated value
$620,000
Garden apartment buildings
2323 Burke Rd 60 Pasadena, TX 77502-5500
Entity Owned
17-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-0305386
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1969
Construction
BRICK
Total area
5,184 SF
Lot
2.4 ac (104,374 SF)
APN
450020030068
UPID
US82-0305386
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
-
Parkview Village Townhomes Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$645k
CAP Approach
CAP
$815k
Comparable Approach
Comparable
$406k
Blend (final)
Blend
$620k
Owner & transaction history
M & L168 LLC · 17 yrs held
M & L168 LLC
since 2008
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$755,000
+137.4%
Restaurant
$635,000
+99.9%
Auto repair, garage
$500,000
+58.1%
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 Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena 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
$645,000
CAP Approach
CAP Return
Estimation
6%
$885,000
6.5%
$815,000
7%
$760,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$755,000
Change: +137% · Conversion: Moderate
RESTAURANT
$635,000
Change: +100% · Conversion: Difficult
AUTO REPAIR, GARAGE
$500,000
Change: +58% · Conversion: Difficult
MEDICAL BUILDING
$380,000
Change: +19% · Conversion: Moderate
Blend value · Realmo final
$620k
Range $558k – $682k · ±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
$120 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$46,093
Tax year 2022
Assessed value
$3,655,225
Assessed 2024
Previous assessed
$4,054,622
-9.9% YoY
Effective rate
1.26%
On assessed value
Assessed land
$834,992
Assessed improvement
$2,820,233
Land market value
$834,992
Improvement market value
$2,820,233
Total market value
$3,655,225
Applied tax rate
21.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1969
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
9
Stories
2
Rooms
4
Bathrooms
1
Total area
5,184 SF
Lot
2.4 ac (104,374 SF)
APN
450020030068
UPID
US82-0305386
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
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
COMMERCIAL (GENERAL)
Est. value
$755,000
RESTAURANT
Est. value
$635,000
AUTO REPAIR, GARAGE
Est. value
$500,000
MEDICAL BUILDING
Est. value
$380,000
COMMERCIAL (GENERAL)
RESTAURANT
AUTO REPAIR, GARAGE
MEDICAL 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
1969
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
9
Rooms
4
Bathrooms
1
Lot
2.4 ac
Current owner
From public records · entity-resolved
M & L168 LLC
Entity
Mailing address
4019 CALABRIA BAY CT, MISSOURI CITY, TX 77459-6981
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 16, 2008
—
M & L168 LLC
Interstate Equities II LLC
Grant Deed
related
—
Sep 10, 2004
—
Charles W West
Sandoval,valerie
Grant Deed
related
—
—
—
M & L168 LLC
—
Deed Of Trust
related
$1,274,000 · East West Bk
—
—
Interstate Equities II LLC
—
Deed Of Trust
related
$1,500,000 · Column Financial INC
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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