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Property profile & analytics
OFF-MARKET
Estimated value
$950,000
Apartment buildings
2875 Pigeon Pt Rd Eureka, CA 95503-9726
Individually Owned
5-yr Hold
Free & Clear
Property ID
US09-3358268
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1942
Construction
WOOD
Total area
4,341 SF
Lot
1.16 ac (50,529 SF)
Zoning code
RA-2.5/R
APN
403-022-022-000
UPID
US09-3358268
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
$1.01M
CAP Approach
CAP
$795k
Comparable Approach
Comparable
$888k
Blend (final)
Blend
$950k
Owner & transaction history
Kelly Martin · 5 yrs held
Kelly Martin
since 2021
Last sale
$945,000
7 recorded transactions
Zoning & alternative use
RA-2.5/R · Eureka, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$640,000
+19.1%
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 Eureka submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Eureka 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
$975,000
ML approach
$1,010,000
CAP Approach
CAP Return
Estimation
6%
$860,000
6.5%
$795,000
7%
$740,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$640,000
Change: +19% · Conversion: Moderate
Blend value · Realmo final
$950k
Range $855k – $1.05M · ±10% · vs last sale $945k (Apr 12 2021)
Last sale anchor
$945k
Apr 12 2021
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
$219 / 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
$11,110
Tax year 2024
Assessed value
$1,002,841
Assessed 2024
Previous assessed
$1,002,841
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$334,280
Assessed improvement
$668,561
Applied tax rate
74.0000
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
1942
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
2
Rooms
12
Bathrooms
2
Total area
4,341 SF
Lot
1.16 ac (50,529 SF)
Zoning code
RA-2.5/R
APN
403-022-022-000
UPID
US09-3358268
Jurisdiction
HUMBOLDT
Zoning & alternative use
RA-2.5/R · Eureka, CA
Zoning RA-2.5/R · permitted uses
RA-2.5/R · Eureka, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Eureka. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$640,000
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
1942
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
2
Rooms
12
Bathrooms
2
Lot
1.16 ac
Current owner
From public records · entity-resolved
Kelly Martin
Individual
Free & Clear · 5 yrs held
Mailing address
PO BOX 6158, EUREKA, CA 95502-6158
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 29, 2022
—
Kala Martin
—
Deed
related
$1,300,000 · Tri Counties Bank
Apr 12, 2021
$945,000
Kelly Martin
Kent Gane Pettlon
Grant Deed
—
Aug 25, 2016
$635,000
Kent Gane Pettlon
Robert G Kirkpatrick
Grant Deed
$400,000 · Umpqua Bank
Apr 9, 2015
—
Kirkpatrick,r G & M 2015 Trust
Kirkpatrick Trust
Quit Claim Deed
related
—
Oct 11, 2013
$525,000
Kirkpatrick Trust
Squires Trust
Grant Deed
$100,000 · Squires Trust
Oct 11, 2013
—
Squires Trust
Squires Family Trust
Quit Claim Deed
related
—
Aug 13, 1996
—
Squires Trust
Squires,floyd E & Ruth
Quit Claim 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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