New search
Property profile & analytics
OFF-MARKET
Estimated value
$3,120,000
Apartment buildings
233 Nicolet St, Banning, CA 92220-4698
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3040790
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1936
Construction
WOOD
Total area
3,892 SF
Lot
1.16 ac (50,529 SF)
Zoning code
R3
APN
540-082-010
UPID
US10-3040790
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
-
Bevia Group Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.12M
Owner & transaction history
Pi Properties No 130 LLC · 3 yrs held
Pi Properties No 130 LLC
since 2022
Last sale
$3.5M
7 recorded transactions
Zoning & alternative use
R3 · Banning, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$4.0M
+3.4%
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 Banning submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Banning 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
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,850,000
Current use
COMMERCIAL (GENERAL)
$3,985,000
Change: +3% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,350,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$3.12M
Range $2.81M – $3.43M · ±10% · vs last sale $3.50M (Jul 29 2022)
Last sale anchor
$3.50M
Jul 29 2022
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
$802 / 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
$48,070
Tax year 2024
Assessed value
$3,495,330
Assessed 2024
Previous assessed
$3,495,330
+0.0% YoY
Effective rate
1.38%
On assessed value
Assessed land
$832,320
Assessed improvement
$2,663,010
Applied tax rate
1.0000
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
1936
Construction
WOOD
Heating
NONE
Buildings
4
Stories
2
Units
5
Total area
3,892 SF
Lot
1.16 ac (50,529 SF)
Zoning code
R3
APN
540-082-010
UPID
US10-3040790
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Banning, CA
Zoning R3 · permitted uses
R3 · Banning, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Banning. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.9M
COMMERCIAL (GENERAL)
Est. value
$4.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.4M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1936
Construction
WOOD
Heating
NONE
Stories
2
Buildings
4
Units
5
Lot
1.16 ac
Current owner
From public records · entity-resolved
Pi Properties No 130 LLC
Entity
Mailing address
610 N SANTA ANITA AVE, ARCADIA, CA 91006-2722
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 29, 2022
—
Pi Properties No 130 LLC
Pi Properties No 130 LLC
Intrafamily Transfer
related
$2,700,000 · Financial Partners Cu
Feb 28, 2022
$3,500,000
Pl Properties No 130 LLC
Euphoria Capital LLC
Grant Deed
—
May 10, 2018
—
Euphoria Capital LLC
—
Grant Deed
related
$1,100,000 · Kinecta FCU
Jan 6, 2016
$1,665,000
Euphoria Capital LLC
Escudero,victor H & Hae J
Grant Deed
—
Jun 14, 2005
—
Alan Pollack
233 W Nicolet LLC
Grant Deed
$150,000 · Warwick Investments LP
Aug 19, 2003
—
233 W Nicolet LLC
Pollack,alan D
Quit Claim Deed
related
—
Feb 25, 2003
$1,350,000
Alan D Pollack
Rosenau Investments INC
Grant Deed
$884,500 · Rosenau Investments INC
Oct 1, 1990
$314,500
Bbd Inv
Sider Morton M
Trustees Deed
$580,000 · Coast Federal Bank
Oct 1, 1990
$402,500
Sider Morton M
Finch Daniel W
Trustees Deed
related
—
—
—
Victor H Escudero
—
Deed Of Trust
related
$1,393,000 · Fullerton Community Bank Fsb
—
—
Victor H Escudero
—
Deed Of Trust
related
$712,500 · Fullerton Community Bank Fsb
—
—
Victor H Escudero
—
Deed Of Trust
related
$650,888 · Fullerton Community Bank Fsb
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 233 Nicolet St?
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.
