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Property profile & analytics
OFF-MARKET
Apartment buildings
2770 Devonshire Ave Hemet, CA 92545-5007
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0898243
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1986
Construction
WOOD
Total area
10,878 SF
Lot
4.86 ac (211,701 SF)
Zoning code
R3
APN
448-270-010
UPID
US09-0898243
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
-
East Side Dyes Clothes Market
-
The Marine Team (Bike/Boat/Book/etc) Store
-
Azul Apartments Homes Apartment Complex
-
Jessie's Laborers Advocacy Group
-
Beautiful And Blessed Sales Big Box & Wholesale Store Factory
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tig Devonshire LLC · 4 yrs held
Tig Devonshire LLC
since 2021
Last sale
$54.5M
6 recorded transactions
Zoning & alternative use
R3 · Hemet, 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 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$366,936
Tax year 2024
Assessed value
$32,248,032
Assessed 2024
Previous assessed
$32,248,032
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$3,303,270
Assessed improvement
$28,944,762
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 (100+ UNITS)
Status
Off-Market
Year built
1986
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
4
Stories
2
Units
6
Total area
10,878 SF
Lot
4.86 ac (211,701 SF)
Zoning code
R3
APN
448-270-010
UPID
US09-0898243
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.
Building & site characteristics
From public records
Year built
1986
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
4
Units
6
Lot
4.86 ac
Current owner
From public records · entity-resolved
Tig Devonshire LLC
Entity
Mailing address
280 NEWPORT CTR DR STE #235, NEWPORT BEACH, CA 92660-7524
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
Feb 27, 2025
—
Tig Devonshire LLC
—
Deed
related
$41,362,000 · Berkadia Commercial Mortgage LLC
Sep 1, 2021
$54,500,000
Tig Devonshire LLC
Essex Jms Acquisition LP
Grant Deed
$41,556,306 · Cit Bank NA
May 15, 2001
—
John M Sachs INC
Devonshire Apartments LLC
Grant Deed
$5,000,000 · California Bank & Trust
Oct 30, 1998
$8,450,000
Devonshire Apartments LLC
Dolphinshire/devonshire
Grant Deed
related
$7,450,000 · Fremont Investment & Loan
Aug 20, 1993
$6,130,000
Dolphinshire
Devonshire Arms
Grant Deed
related
—
—
—
John M Sachs INC
—
Deed Of Trust
related
$11,908,000 · Keycorp Real Estate Capital
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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