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Property profile & analytics
OFF-MARKET
Estimated value
$1,175,000
Apartment buildings
244 Thornton Ave Hemet, CA 92543-7986
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2229076
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1981
Construction
WOOD
Total area
2,970 SF
Lot
1.8 ac (78,408 SF)
Zoning code
R3
APN
451-090-008
UPID
US09-2229076
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
-
Echo Creek Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$765k
CAP Approach
CAP
$740k
Comparable Approach
Comparable
$1.19M
Blend (final)
Blend
$1.18M
Owner & transaction history
Road Dog Properties LP · 12 yrs held
Road Dog Properties LP
since 2014
7 recorded transactions
Zoning & alternative use
R3 · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.3M
+22.0%
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 Hemet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hemet 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
$765,000
CAP Approach
CAP Return
Estimation
6%
$800,000
6.5%
$740,000
7%
$685,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,050,000
Current use
AUTO REPAIR, GARAGE
$1,280,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$880,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.18M
Range $1.06M – $1.29M · ±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
$396 / 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
$32,264
Tax year 2024
Assessed value
$2,787,387
Assessed 2024
Previous assessed
$2,787,387
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$769,162
Assessed improvement
$2,018,225
Applied tax rate
6.0000
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
1981
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
29
Stories
2
Units
32
Total area
2,970 SF
Lot
1.8 ac (78,408 SF)
Zoning code
R3
APN
451-090-008
UPID
US09-2229076
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Hemet, CA
Zoning R3 · permitted uses
R3 · Hemet, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hemet. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.3M
WAREHOUSE, STORAGE
Est. value
$880,000
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
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
1981
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
29
Units
32
Lot
1.8 ac
Current owner
From public records · entity-resolved
Road Dog Properties LP
Entity
Mailing address
812 E CHASE DR, CORONA, CA 92881-3903
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 28, 2021
—
Mohaninder S Pannu
—
Deed
related
$2,737,000 · Homestreet Bank
Jul 27, 2016
—
Road Dog Properties LP
—
Deed
related
$3,881,000 · Citizens Business Bank
Jun 19, 2014
$2,319,500
Road Dog Properties LP
Karen Jacqueline Baer
Grant Deed
$3,136,000 · Royal Business Bank
Jun 19, 2014
—
Karen J Baer
Demers,albert J & Victoria B
Affidavit Of Death
related
—
Jun 26, 2008
—
Demers A J & V Ab Living Trust
Demers,albert J & Vicky M
Quit Claim Deed
related
—
Feb 28, 1995
$931,500
Albert J De Mers
Provident Savings Bank
Grant Deed
$862,500 · Provident Savings Bank
Jan 27, 1995
$702,082
Provident Savings Bank
Demers,albert J & Vicky M
Trustees Deed
related
—
Jan 20, 1994
$367,189
Echo Creek Apartments
De Mers,vicky M
Trustees Deed
—
Apr 1, 1992
—
Albert Demers
Unknown
Grant 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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