Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$1,495,000
Apartment buildings
238 4th Ave Covina, CA 91723-2521
Entity Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6462015
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1961
Construction
WOOD
Total area
5,010 SF
Lot
0.24 ac (10,357 SF)
Zoning code
CVR3-RD125
APN
8444-007-013
UPID
US09-6462015
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
by Request
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
$1.66M
Blend (final)
Blend
$1.50M
Owner & transaction history
Golden Opportunity No 14 LP · 1 yrs held
Golden Opportunity No 14 LP
since 2024
Last sale
$1.5M
5 recorded transactions
Zoning & alternative use
CVR3-RD125 · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.3M
+85.6%
Medical building
$2.3M
+82.4%
Office building
$1.7M
+32.1%
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 Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covina 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%
$1,345,000
6.5%
$1,240,000
7%
$1,150,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,250,000
Current use
AUTO REPAIR, GARAGE
$2,315,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$2,275,000
Change: +82% · Conversion: Moderate
OFFICE BUILDING
$1,650,000
Change: +32% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,550,000
Change: +24% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,470,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$1.50M
Range $1.35M – $1.64M · ±10% · vs last sale $1.54M (Sep 10 2024)
Last sale anchor
$1.54M
Sep 10 2024
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
$298 / 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
$23,381
Tax year 2024
Assessed value
$1,783,309
Assessed 2024
Previous assessed
$1,783,309
+0.0% YoY
Effective rate
1.31%
On assessed value
Assessed land
$1,252,225
Assessed improvement
$531,084
Applied tax rate
3.0000
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
1961
Construction
WOOD
Heating
NONE
Units
7
Bathrooms
7
Total area
5,010 SF
Lot
0.24 ac (10,357 SF)
Zoning code
CVR3-RD125
APN
8444-007-013
UPID
US09-6462015
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
CVR3-RD125 · Covina, CA
Zoning CVR3-RD125 · permitted uses
CVR3-RD125 · Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covina. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$2.3M
MEDICAL BUILDING
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.6M
WAREHOUSE, STORAGE
Est. value
$1.5M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1961
Construction
WOOD
Heating
NONE
Units
7
Bathrooms
7
Lot
0.24 ac
Current owner
From public records · entity-resolved
Golden Opportunity No 14 LP
Entity
Mailing address
3617 LOGWOOD PL, FALLBROOK, CA 92028-8781
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 10, 2024
$1,540,000
Golden Opportunity No 14 LP
B&p Covina LLC
Grant Deed
$1,540,000 · Western Alliance Bank
Dec 7, 2023
—
B&p Covina LLC
Harry William Weaver
Intrafamily Transfer
related
—
Oct 25, 2021
—
Harry William Weaver
Harry William Weaver
Intrafamily Transfer
related
—
Jul 7, 2021
—
Harry William Weaver
William Thomas Weaver
Affidavit Death Of Trustee/successor Trustee
related
—
Nov 23, 1993
—
Weaver,william T&doris M Trust
Weaver,w T&d M
Quit Claim Deed
related
—
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 238 4th 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.
