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Property profile & analytics
OFF-MARKET
Estimated value
$5,785,000
Apartment buildings
2633 Ocean St 1 Carlsbad, CA 92008-2239
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9780251
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Total area
3,737 SF
Lot
0.16 ac (6,999 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
203-140-08-00
UPID
US09-9780251
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$5.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.09M
Blend (final)
Blend
$5.79M
Owner & transaction history
Mila Co II LLC · 4 yrs held
Mila Co II LLC
since 2022
Last sale
$6.9M
7 recorded transactions
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · Carlsbad, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$6.1M
+192.8%
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
$5,490,000
ML approach
$5,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$6,140,000
Change: +193% · Conversion: Moderate
Blend value · Realmo final
$5.79M
Range $5.21M – $6.36M · ±10% · vs last sale $6.85M (Feb 9 2022)
Last sale anchor
$6.85M
Feb 9 2022
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
$1,548 / 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
$75,787
Tax year 2024
Assessed value
$7,126,740
Assessed 2024
Previous assessed
$7,126,740
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$6,851,034
Assessed improvement
$275,706
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
1960
Heating
NONE
Units
5
Total area
3,737 SF
Lot
0.16 ac (6,999 SF)
Zoning code
R-3:RESTRICTED MULTIPLE
APN
203-140-08-00
UPID
US09-9780251
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-3:RESTRICTED MULTIPLE · Carlsbad, CA
Zoning R-3:RESTRICTED MULTIPLE · permitted uses
R-3:RESTRICTED MULTIPLE · 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.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$6.1M
COMMERCIAL (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
1960
Heating
NONE
Units
5
Lot
0.16 ac
Current owner
From public records · entity-resolved
Mila Co II LLC
Entity
Mailing address
16130 ROYAL OAK RD, ENCINO, CA 91436-3916
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 17, 2025
—
Mila Co II LLC
—
Deed
related
$6,000,000 · Ventura County Cu
Feb 9, 2022
$6,850,000
Mila Co II LLC
Ilisley Family LLC
Grant Deed
$4,733,000 · Ventura County Cu
Sep 15, 2021
—
Illsley Family LLC
Illsley Family LLC
Intrafamily Transfer
related
—
May 9, 1989
—
Mark W Illsley
Illsley Mark W
Quit Claim Deed
related
$130,000 · Pt Carlsbad Bank
—
—
Illsley Trust
—
Deed Of Trust
related
$150,000 · Capital Bank North County
—
—
Mark W Illsley
—
Deed Of Trust
related
$225,000 · Wells Fargo Bank
—
—
Illsley Family LLC
—
Deed Of Trust
related
$177,000 · Wells Fargo Home Mortgage INC
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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