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    2939 Park Ave, Unit 7 Soquel, CA 95073-2859
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    Property profile & analytics

    2939 Park Ave, Unit 7, Soquel, CA 95073-2859

    View on Map
    • Apartment buildings
    • 6,704 SF
    • 0.59 lot acres
    Off-Market
    Last Sale Jun 21, 2024
    Property ID
    US09-1168579
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $1,750,000
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 2939 Park Ave

    Year built
    1979
    Construction
    WOOD
    Lot size
    0.59 lot acres
    Zone code
    PA
    Property type
    Apartment buildings
    APN
    037-211-28
    APU
    3721128

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Jan 29, 2026 — Spencer Soquel Properties LLC Spencer Soquel Properties LLC Deed · related $500k · West Coast Community Bank
    Jun 21, 2024 — Spencer Soquel Properties LLC Sharon L Spencer Intrafamily Transfer · related —
    Mar 29, 2017 — Spencer,sharon L Trust Spencer,sharon L Quit Claim Deed · related —
    Dec 3, 2015 — Sharon L Spencer Lyons Helen C Trust Grant Deed —
    Nov 24, 2015 — Loreen K L Wade Lyons,helen C Affidavit Of Death · related —
    Jun 13, 1997 $244,000 Lyons Trust Simons Trust Grant Deed · related —
    May 13, 1993 $671,000 Simons,trust Lohrey,david W & Grant Deed $503k · San Francisco Federal S & L
    — — Lorne W Simons — Deed Of Trust · related $50k · Individual
    — — Lohrey David W — Deed Of Trust · related $750k · Silicon Valley Bank
    — — Lyons Trust — Deed Of Trust · related $50k · Robert L Wade Trustee
    — — Lyons Helen C Trust — Deed Of Trust · related $850k · Wachovia Mortgage Fsb

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Soquel
    County
    Santa Cruz
    State
    California
    Longitude
    -121.937
    Latitude
    36.9877
    CBSA code
    42100
    CBSA name
    SANTA CRUZ-WATSONVILLE, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $25,203
    $687,595
    $855,427
    $1,543,022
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $600,000
      1,978 SF

      3602 Main St, Unit B

      APARTMENT HOUSE (5+ UNITS)
      3602 Main St, Soquel, CA 95073-2554
      View Details
    • Value Estimation
      $1,585,000
      5,376 SF

      4795 Riv St, Unit F

      APARTMENT HOUSE (5+ UNITS)
      4795 Riv St, Soquel, CA 95073-2438
      View Details
    • Value Estimation
      $5,160,000
      2,068 SF

      2801 Daubenbiss Ave, Unit 12

      APARTMENT HOUSE (5+ UNITS)
      2801 Daubenbiss Ave, Soquel, CA 95073-2187
      View Details
    • Value Estimation
      $1,465,000
      6,658 SF

      2800 Main St, Unit 5

      APARTMENT HOUSE (5+ UNITS)
      2800 Main St, Soquel, CA 95073-2439
      View Details
    • Value Estimation
      $1,230,000
      4,608 SF

      2876 Park Ave, Unit C

      APARTMENT HOUSE (5+ UNITS)
      2876 Park Ave, Soquel, CA 95073-2836
      View Details
    • Value Estimation
      $2,440,000
      7,200 SF

      103 Douglas Dr

      APARTMENT HOUSE (5+ UNITS)
      103 Douglas Dr, Soquel, CA 95073-2558
      View Details

    Similar Nearby for Sale

    • $2,495,000
      3,806 SF

      Fourplex with Semi-Private Yards

      Well-maintained four-unit property with two-bedroom layouts, separate entry access, and semi-private enclosed yards.
      5058 Wilder Dr, Soquel, CA 95073
      View Details
    • $2,650,000

      Soquel Fourplex in Ideal Location

      Well-maintained fourplex near Capitola Village with long-term tenants.
      5058 Wilder Dr, Soquel, CA 95073
      View Details
    • $22,000,000

      Land for Sale in SOQUEL

      Land available on Soquel Drive, Santa Cruz County.
      5606 Soquel Dr, Soquel, CA 95073
      View Details
    • $1,400,000
      0.13 Acres

      Fully Detached Office Building

      Fully detached office building with dedicated parking, renovated kitchen, and mini-split climate control in downtown Soquel.
      4746 Soquel Dr, Soquel, CA 95073
      View Details

    Similar Nearby for Lease

    • New
      $7,000 /Mo
      5,489 SF

      Detached Office Building with Parking

      Detached downtown office with dedicated on-site parking, renovated kitchen, and mini-split climate control for flexible occupancy.
      4746 Soquel Dr, Soquel, CA 95073
      View Details
    • Contact for pricing
      686 SF

      Soquel Office/Creative Space For Rent

      Second floor office or creative space near Cabrillo College.
      2955 Park Ave, Soquel, CA 95073
      View Details
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    Soquel, CA 95073-2859
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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    2939 Park Ave, Soquel, CA, 95073
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