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Property profile & analytics
OFF-MARKET
Estimated value
$2,915,000
Office buildings
244 Redondo Ave, Long Beach, CA 90803-5952
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6972808
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1928
Construction
WOOD
Total area
8,063 SF
Lot
0.5 ac (21,628 SF)
Zoning code
LBCNR
APN
7264-001-056
UPID
US09-6972808
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
-
Main Street Realtors :Jeanne Murphy Real Estate Agency
-
Yogalution Movement & Wellness Gym & Fitness Center
-
Heather Burke, Coldwell Banker Coastal Alliance Real Estate Agency
-
Vero Pilates Gym & Fitness Center
-
Lorri Quiett Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.37M
Comparable Approach
Comparable
$3.27M
Blend (final)
Blend
$2.92M
Owner & transaction history
Redondo 5 LLC · 7 yrs held
Redondo 5 LLC
since 2019
3 recorded transactions
Zoning & alternative use
LBCNR · Long Beach, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.8M
+66.9%
Apartment house (5+ units)
$2.9M
+2.4%
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 Long Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Beach 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%
$3,650,000
6.5%
$3,370,000
7%
$3,130,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,855,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,765,000
Change: +67% · Conversion: Difficult
APARTMENT HOUSE (5+ UNITS)
$2,925,000
Change: +2% · Conversion: Easy
AUTO REPAIR, GARAGE
$2,550,000
Change: -11% · Conversion: Difficult
Blend value · Realmo final
$2.92M
Range $2.62M – $3.21M · ±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
$362 / 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
$46,530
Tax year 2024
Assessed value
$3,538,262
Assessed 2024
Previous assessed
$3,538,262
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$2,358,842
Assessed improvement
$1,179,420
Applied tax rate
5.0000
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
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1928
Construction
WOOD
Heating
NONE
Stories
1
Total area
8,063 SF
Lot
0.5 ac (21,628 SF)
Zoning code
LBCNR
APN
7264-001-056
UPID
US09-6972808
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LBCNR · Long Beach, CA
Zoning LBCNR · permitted uses
LBCNR · Long Beach, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$2.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS)
Est. value
$2.9M
AUTO REPAIR, GARAGE
Est. value
$2.6M
OFFICE BUILDING Current
NEIGHBORHOOD: SHOPPING CENTER
APARTMENT HOUSE (5+ UNITS)
AUTO REPAIR, GARAGE
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
1928
Construction
WOOD
Heating
NONE
Stories
1
Lot
0.5 ac
Current owner
From public records · entity-resolved
Redondo 5 LLC
Entity
Mailing address
248 REDONDO AVE, LONG BEACH, CA 90803-5952
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2024
—
Redondo 5 LLC
—
Deed
related
$1,000,000 · Farmers & Merchants Bank Of Long Beach
Jul 1, 2019
$3,300,000
Redondo 5 LLC
Moore Of Shapen Trust
Grant Deed
$1,300,000 · Farmers & Merchants Bk/lng Bch
Feb 7, 2012
—
Moore Of Shapen Trust
Shapen Bonnie J 1997 Trust
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.
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