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Property profile & analytics
OFF-MARKET
Estimated value
$11,175,000
Apartment buildings
2821 Lou Ann Dr Modesto, CA 95350-6515
Individually Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1536088
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1987
Construction
WOOD
Total area
43,330 SF
Lot
2.97 ac (129,373 SF)
Zoning code
PD
APN
005-077-086-000
UPID
US09-1536088
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
-
Sedona Condo Rentals Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$8.87M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.18M
Owner & transaction history
Paramijit K Gill · 7 yrs held
Paramijit K Gill
since 2019
7 recorded transactions
Zoning & alternative use
PD · Modesto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$17.5M
+37.8%
Medical building
$14.1M
+11.4%
Commercial (general)
$13.3M
+4.9%
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 Modesto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Modesto 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%
$9,610,000
6.5%
$8,870,000
7%
$8,235,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$12,675,000
Current use
AUTO REPAIR, GARAGE
$17,470,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$14,115,000
Change: +11% · Conversion: Moderate
COMMERCIAL (GENERAL)
$13,290,000
Change: +5% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$10,455,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$11.18M
Range $10.06M – $12.29M · ±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
$258 / 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
$98,934
Tax year 2024
Assessed value
$8,722,276
Assessed 2024
Previous assessed
$8,722,276
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$1,131,922
Assessed improvement
$7,590,354
Applied tax rate
2.0000
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
1987
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Bathrooms
2
Total area
43,330 SF
Lot
2.97 ac (129,373 SF)
Zoning code
PD
APN
005-077-086-000
UPID
US09-1536088
Jurisdiction
STANISLAUS
Zoning & alternative use
PD · Modesto, CA
Zoning PD · permitted uses
PD · Modesto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Modesto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.7M
AUTO REPAIR, GARAGE
Est. value
$17.5M
MEDICAL BUILDING
Est. value
$14.1M
COMMERCIAL (GENERAL)
Est. value
$13.3M
INDUSTRIAL (GENERAL)
Est. value
$10.5M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
COMMERCIAL (GENERAL)
INDUSTRIAL (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
1987
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Bathrooms
2
Lot
2.97 ac
Current owner
From public records · entity-resolved
Paramijit K Gill
Individual
Mailing address
1949 CLOVER CT, PLEASANTON, CA 94588-8215
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
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 25, 2019
—
Paramijit K Gill
Gill,harpal
Quit Claim Deed
related
—
Jan 25, 2019
$8,000,000
Paramjit K Gill
Blackoak Capital Real Estate Fund 2
Grant Deed
—
Dec 30, 2015
—
Black Oak California Real Esta
Avenal Lake Investments LLC
Grant Deed
—
Mar 19, 2013
—
Avenal Lake Investments LLC
Sedona Condo Rentals LLC
Grant Deed
$2,453,750 · Jpmorgan Chase Bank NA
Aug 2, 2012
—
Sedona Condo Rentals LLC
Sedona Condo Rentals LLC
Grant Deed
related
$2,560,000 · Jpmorgan Chase Bank NA
Mar 6, 2012
$2,500,000
Peachwood LLC
Fre 506 LLC
Grant Deed
—
Sep 9, 2011
$2,500,000
Fre 506 LLC
Burbank Invstr Svcs
Grant Deed
—
Jun 28, 2011
$2,500,000
Burbank Invstr Svcs
Fidelity National Title Co
Trustees Deed
related
—
Aug 5, 2005
—
Kiana Investments Group INC
Legerity Group LLC
Grant Deed
$4,485,600 · Sterling Bank & Trust Fsb
Aug 9, 2002
$1,658,500
Legerity Group
Evans,tr
Grant Deed
—
Sep 27, 1996
$2,350,000
Suzanne E Evans
Villeurbanne Valley Investors
Grant Deed
—
Sep 23, 1996
$231,363
Suzanne E Evans
Villeurbanne Valley Investors
Grant Deed
related
$1,575,000 · Bank Of America
—
—
Kiana Investment Group INC
—
Deed Of Trust
related
$500,000 · Soroush Kaboli
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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