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    Property profile & analytics

    2405 Walnut Ave Carmichael, CA 95608-5068

    • Apartment buildings
    • 50,004 SF
    • 3.05 lot acres
    OFF-MARKET
    Last Sale
    Jun 30, 2021
    $12,250,000
    Value Estimations
    $11,945,000
    Show details
    Cap Rate Potential
    3.4%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-2464207
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • The Grove Apartments / Apartment Building

    Property Details for 2405 Walnut Ave

    Year built
    1976
    Construction
    WOOD
    Lot size
    3.05 lot acres
    Property size
    50,004 SF
    Zone code
    RD-30
    Property type
    Apartment buildings
    APN
    282-0040-034-0000
    APU
    28200400340000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $13,015,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $11,125,000
      6.5%
      $10,270,000
      7%
      $9,535,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $8,100,000
      Market price range: $1.97M - $8.10M

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $12,900,000
      Current use
      OFFICE BUILDING
      $13,340,000
      Change: +3% Conversion: Moderate
      MEDICAL BUILDING
      $13,020,000
      Change: +1% Conversion: Moderate
      AUTO REPAIR, GARAGE
      $12,910,000
      Change: +0% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $11,680,000
      Change: -9% Conversion: Moderate
      INDUSTRIAL (GENERAL)
      $10,430,000
      Change: -19% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Carmichael
    County
    Sacramento
    State
    California
    Longitude
    -121.348
    Latitude
    38.6086
    CBSA code
    40900
    CBSA name
    SACRAMENTO--ARDEN-ARCADE--ROSEVILLE, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $156,892
    $1,750,993
    $11,248,804
    $12,999,797
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $8,365,000
      74,994 SF

      5625 Manzanita Ave

      APARTMENT HOUSE (100+ UNITS) • 74,994 SF
      5625 Manzanita Ave, Carmichael, CA 95608-6504
      View Details
    • Value Estimation
      $8,025,000
      50,048 SF

      4789 Manzanita Ave

      APARTMENT HOUSE (5+ UNITS) • 50,048 SF
      4789 Manzanita Ave, Carmichael, CA 95608-0870
      View Details
    • Value Estimation
      $4,365,000
      28,700 SF

      5307 El Camino Ave

      APARTMENT HOUSE (5+ UNITS) • 28,700 SF
      5307 El Camino Ave, Carmichael, CA 95608-5191
      View Details
    • Value Estimation
      $4,640,000
      32,812 SF

      5440 Marconi Ave

      APARTMENT HOUSE (5+ UNITS) • 32,812 SF
      5440 Marconi Ave, Carmichael, CA 95608-4425
      View Details
    • Value Estimation
      $19,315,000
      60,854 SF

      5325 Marconi Ave

      APARTMENT HOUSE (100+ UNITS) • 60,854 SF
      5325 Marconi Ave, Carmichael, CA 95608-4384
      View Details
    • Value Estimation
      $20,770,000
      135,053 SF

      4450 Mary Lynn Ln

      APARTMENT HOUSE (100+ UNITS) • 135,053 SF
      4450 Mary Lynn Ln, Carmichael, CA 95608-1482
      View Details

    Similar Nearby for Sale

    • $5,295,000
      55,601 SF

      Oversized One- and Two-Bedroom Units

      Oversized One- and Two-Bedroom Units
      2601 Carmichael Way, Carmichael, CA 95608
      View Details
    • $325,000

      Medical Office Condo For Sale

      Medical office condominium in established park, suitable for various practices.
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    • Contact for pricing
      35,478 SF

      Medical Office Building Near Hospital

      Medical office building with surgery center near Mercy San Juan.
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      9,457 SF

      Carmichael Redevelopment or Owner/User Opportunity

      Redevelopment or owner/user opportunity in Sacramento with existing income.
      7144 Fair Oaks Blvd, Carmichael, CA 95608
      View Details
    • Contact for pricing

      Land on Fair Oaks Boulevard

      Land available for development on a busy thoroughfare.
      7823 Fair Oaks Blvd, Carmichael, CA 95608
      View Details
    • $795,000
      1,760 SF

      Automotive Repair Facility on Fair Oaks

      1,760 SF automotive repair shop on 0.5-acre parcel.
      7349 Fair Oaks Blvd, Carmichael, CA 95608
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Art Deco Office Building

      Well-located office building with great exposure and access.
      6720 Fair Oaks Blvd, Carmichael, CA 95608
      View Details
    • Contact for pricing

      Retail Space in Carmichael, CA

      Retail space available in established Carmichael location.
      9045 Fair Oaks Blvd, Carmichael, CA 95608
      View Details
    • Contact for pricing

      Commercial Space Available For Lease

      Commercial property available for lease in Carmichael, CA.
      4044-4046 Wayside Ln, Carmichael, CA 95608
      View Details
    • Contact for pricing

      Multi-Tenant Retail/Office Property For Rent

      7,880 SF multi-tenant retail/office property on 0.42 acres.
      5925 Fair Oaks Blvd, Carmichael, CA 95608
      View Details
    • Contact for pricing

      Retail Space in Busy Corridor

      Retail space with high visibility near national tenants.
      4006 Manzanita Ave, Carmichael, CA 95608
      View Details
    • Contact for pricing
      4,625 SF

      Carmichael Medical/General Office Space

      Medical/general office suites available in Carmichael, California.
      3637 Mission Ave, Carmichael, CA 95608
      View Details
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    Carmichael, CA 95608-5068
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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