New search
Property profile & analytics
OFF-MARKET
Estimated value
$2,025,000
Apartment buildings
2323 Florencita Ave Montrose, CA 91020-1872
Entity Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-6391205
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Construction
WOOD
Total area
5,256 SF
Lot
0.21 ac (9,094 SF)
Zoning code
LCR3YY
APN
5807-022-005
UPID
US09-6391205
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
$2.50M
CAP Approach
CAP
$1.30M
Comparable Approach
Comparable
$1.81M
Blend (final)
Blend
$2.03M
Owner & transaction history
2323 Florencita Dr LLC · 1 yrs held
2323 Florencita Dr LLC
since 2025
7 recorded transactions
Zoning & alternative use
LCR3YY · Montrose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$3.2M
+130.7%
Auto repair, garage
$2.4M
+75.3%
Medical building
$2.4M
+72.3%
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 Montrose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Montrose 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
$2,500,000
ML approach
$2,500,000
CAP Approach
CAP Return
Estimation
6%
$1,410,000
6.5%
$1,300,000
7%
$1,210,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,385,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$3,200,000
Change: +131% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,430,000
Change: +75% · Conversion: Difficult
MEDICAL BUILDING
$2,390,000
Change: +72% · Conversion: Moderate
OFFICE BUILDING
$2,355,000
Change: +70% · Conversion: Moderate
RETAIL STORES
$2,015,000
Change: +45% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,625,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$2.03M
Range $1.82M – $2.23M · ±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
$385 / 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
$18,714
Tax year 2024
Assessed value
$1,566,269
Assessed 2024
Previous assessed
$1,566,269
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$1,039,522
Assessed improvement
$526,747
Applied tax rate
4.0000
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
1985
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
1
Units
6
Rooms
6
Bathrooms
6
Total area
5,256 SF
Lot
0.21 ac (9,094 SF)
Zoning code
LCR3YY
APN
5807-022-005
UPID
US09-6391205
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LCR3YY · Montrose, CA
Zoning LCR3YY · permitted uses
LCR3YY · Montrose, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Montrose. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
AUTO REPAIR, GARAGE
Est. value
$2.4M
MEDICAL BUILDING
Est. value
$2.4M
OFFICE BUILDING
Est. value
$2.4M
RETAIL STORES
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
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
1985
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
6
Rooms
6
Bathrooms
6
Lot
0.21 ac
Current owner
From public records · entity-resolved
2323 Florencita Dr LLC
Entity
Free & Clear · 1 yrs held
Mailing address
2029 VERDUGO BLVD #151, MONTROSE, CA 91020-1626
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
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
Jun 30, 2025
—
2323 Florencita Dr LLC
Oao Properties LLC
Grant Deed
—
Sep 4, 2024
—
Oao Properties LLC
—
Deed
related
$1,005,000 · Jpmorgan Chase Bank NA
Jul 10, 2024
$2,500,000
Oao Properties LLC
Mario A Pancino
Grant Deed
—
Feb 23, 2006
—
Pancino Mario A Trust
Dionne Trust
Grant Deed
—
Feb 26, 2003
—
Dionne,tr
Dionne,philip & Marjorie L
Quit Claim Deed
related
—
Nov 25, 2002
—
Pancino,mario A Tr
Pancino,m A
Quit Claim Deed
related
—
May 31, 1991
$311,818
Dionne,philip P
John W Bluff & A
Trustees Deed
—
May 31, 1991
$635,000
Pancino,mario
Dionne,phillip P
Trustees Deed
$447,500 · Glendale Federal 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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 2323 Florencita Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
