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Property profile & analytics
OFF-MARKET
Estimated value
$2,800,000
Apartment buildings
2501 State St Carlsbad, CA 92008-1671
Individually Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-5727532
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Total area
37,608 SF
Lot
0.49 ac (21,194 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
155-200-10-00
UPID
US09-5727532
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
-
Ocean 17 Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.80M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.80M
Blend (final)
Blend
$2.80M
Owner & transaction history
Patrick Lucy · 1 yrs held
Patrick Lucy
since 2024
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Carlsbad, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Carlsbad submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carlsbad 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
$2,800,000
ML approach
$2,800,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$2.80M
Range $2.52M – $3.08M · ±10% · vs last sale $2.80M (Sep 5 2024)
Last sale anchor
$2.80M
Sep 5 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
$74 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$115,473
Tax year 2023
Assessed value
$10,675,449
Assessed 2023
Previous assessed
$10,675,449
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$5,575,449
Assessed improvement
$5,100,000
Applied tax rate
9.0000
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
1973
Heating
NONE
Units
17
Total area
37,608 SF
Lot
0.49 ac (21,194 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
155-200-10-00
UPID
US09-5727532
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Carlsbad, CA
Zoning R-4:MULTIPLE RESIDENTIAL · permitted uses
R-4:MULTIPLE RESIDENTIAL · Carlsbad, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carlsbad. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1973
Heating
NONE
Units
17
Lot
0.49 ac
Current owner
From public records · entity-resolved
Patrick Lucy
Individual
Mailing address
407 GRAND VIS LN STE #100, FALLBROOK, CA 92028-8912
Mailing matches property
Yes
Owner-occupied
Yes
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
27 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 5, 2024
$2,800,000
Patrick Lucy
Carlsbad 17 LP
Grant Deed
$1,680,000 · Us Bank NA
Jul 29, 2024
$2,250,000
Rahul Sharma
Carlsbad 17 LP
Grant Deed
$900,000 · United Wholesale Mortgage
May 23, 2024
—
Ocean Condominiums Owners Associati
Carlsbad 17 LP
Grant Deed
—
May 22, 2024
—
Cornelia Soares
Cornelia Soares
Intrafamily Transfer
related
—
May 16, 2024
$1,772,500
Glenn Harris
Carlsbad 17 LP
Grant Deed
$1,006,250 · Resicentral LLC
May 13, 2024
—
Soil U405 LLC
Carlsbad 17 LP
Grant Deed
$1,900,000 · Gf Capital
May 6, 2024
$1,550,000
Victor Moreno
Carlsbad 17 LP
Grant Deed
$929,940 · Morgan Stanley Private Bank NA
Apr 29, 2024
$2,500,000
Patrick K Cardwell
Carlsbad 17 LP
Grant Deed
$1,749,900 · Jpmorgan Chase Bank NA
Apr 26, 2024
$2,200,000
Eric Heffner
Carlsbad 17 LP
Grant Deed
$520,000 · Morgan Stanley Private Bank NA
Apr 26, 2024
$1,800,000
Charles Blake Dederich
Carlsbad 17 LP
Grant Deed
—
Apr 26, 2024
$3,500,000
Mark Deroze
Carlsbad 17 LP
Grant Deed
$1,600,000 · Jpmorgan Chase Bank NA
Apr 26, 2024
—
Mark Deroze
Susanne Deroze
Intrafamily Transfer
related
—
Apr 25, 2024
$2,050,000
John Francis Kelliher III
Carlsbad 17 LP
Grant Deed
—
Apr 19, 2024
—
Jan E Mcintire
Carlsbad 17 LP
Intrafamily Transfer
related
—
Apr 12, 2024
$2,360,000
Charles Randolph Todd
Carlsbad 17 LP
Grant Deed
—
Apr 11, 2024
$1,900,000
Michael Wellman
Carlsbad 17 LP
Grant Deed
—
Apr 11, 2024
$1,750,000
Winston S Thomas
Carlsbad 17 LP
Grant Deed
—
Apr 4, 2024
$2,500,000
Chris Possemato
Carlsbad 17 LP
Grant Deed
—
Apr 2, 2024
$2,000,000
Cornelia Soares
Carlsbad 17 LP
Grant Deed
$22,885,000 · Nikols Mortgage Fund LLC
Mar 21, 2024
$1,950,000
Robert Francis Bladel JR
Carlsbad 17 LP
Grant Deed
—
May 27, 2022
—
Carlsbad 17 LP
Carlsbad 17 LP
Correction Deed
related
—
Jan 25, 2022
—
City Of Carlsbad
Concerning Environmental Impacts
Deed
—
Feb 25, 2019
$5,250,000
Carlsbad 17 LP
Mjfn Holding LLC
Grant Deed
—
Jun 25, 2002
—
Mjfn Holding LLC
Yonce Trust
Grant Deed
$776,000 · First National Bank
Nov 1, 1988
$750,000
Yonce J B
Uhlinger Robert
Grant Deed
$650,000 · Uhlinger Robert
—
—
Mjfn Holdings LLC
—
Deed Of Trust
related
$640,000 · Cdc Small Business Finance Co
—
—
Mjfn Holding LLC
—
Deed Of Trust
related
$500,000 · Evans Living Trust
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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