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Property profile & analytics
OFF-MARKET
Estimated value
$11,945,000
Apartment buildings
2405 Walnut Ave Carmichael, CA 95608-5068
Entity Owned
5-yr Hold
Absentee Owner
Property ID
US09-2464207
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1976
Construction
WOOD
Total area
50,004 SF
Lot
3.05 ac (132,858 SF)
Zoning code
RD-30
APN
282-0040-034-0000
UPID
US09-2464207
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
-
The Grove Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$13.02M
CAP Approach
CAP
$10.27M
Comparable Approach
Comparable
$8.10M
Blend (final)
Blend
$11.95M
Owner & transaction history
2405wal LLC · 5 yrs held
2405wal LLC
since 2021
Last sale
$12.3M
6 recorded transactions
Zoning & alternative use
RD-30 · Carmichael, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$13.3M
+3.4%
Medical building
$13.0M
+0.9%
Auto repair, garage
$12.9M
+0.1%
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 Carmichael submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carmichael 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
$13,015,000
CAP Approach
CAP Return
Estimation
6%
$11,125,000
6.5%
$10,270,000
7%
$9,535,000
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
Blend value · Realmo final
$11.95M
Range $10.75M – $13.14M · ±10% · vs last sale $12.25M (Jun 30 2021)
Last sale anchor
$12.25M
Jun 30 2021
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
$239 / 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
$156,892
Tax year 2024
Assessed value
$12,999,797
Assessed 2024
Previous assessed
$12,999,797
+0.0% YoY
Effective rate
1.21%
On assessed value
Assessed land
$1,750,993
Assessed improvement
$11,248,804
Applied tax rate
54.0000
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
1976
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Units
66
Total area
50,004 SF
Lot
3.05 ac (132,858 SF)
Zoning code
RD-30
APN
282-0040-034-0000
UPID
US09-2464207
Jurisdiction
SACRAMENTO
Zoning & alternative use
RD-30 · Carmichael, CA
Zoning RD-30 · permitted uses
RD-30 · Carmichael, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carmichael. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.9M
OFFICE BUILDING
Est. value
$13.3M
MEDICAL BUILDING
Est. value
$13.0M
AUTO REPAIR, GARAGE
Est. value
$12.9M
COMMERCIAL (GENERAL)
Est. value
$11.7M
INDUSTRIAL (GENERAL)
Est. value
$10.4M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
MEDICAL BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1976
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Units
66
Lot
3.05 ac
Current owner
From public records · entity-resolved
2405wal LLC
Entity
Mailing address
2370 TELEGRAPH AVE, OAKLAND, CA 94612-2421
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 30, 2021
$12,250,000
2405wal LLC
Mjd Jcr 2405 Walnut Ave Multifamily
Grant Deed
$8,060,000 · Bbcn Bank
Feb 20, 2019
—
Mjd Jcr 2405 Walnut Ave Multif
—
Grant Deed
related
$5,349,000 · Walker & Dunlop
Nov 29, 2018
$8,250,000
Mjd Jcr 2405 Walnut Ave Multif
Jefferson Place Investors
Grant Deed
—
Feb 3, 2011
—
Jefferson Place Investors Ltd
Jefferson Place Investors
Quit Claim Deed
related
$1,894,686 · Jpmorgan Chase Bank NA
—
—
Jefferson Place Investors
—
Deed Of Trust
related
$1,285,000 · Home Savings Of America
—
—
Jefferson Place Investors
—
Deed Of Trust
related
$1,550,000 · Washington Mutual 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.
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