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Property profile & analytics
OFF-MARKET
Estimated value
$1,605,000
Apartment buildings
300 Pennsylvania Dr 3 Watsonville, CA 95076-3716
Trust Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0306291
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD
Total area
4,778 SF
Lot
0.22 ac (9,496 SF)
APN
016-172-28
UPID
US09-0306291
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
by Request
CAP Approach
CAP
$1.89M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.61M
Owner & transaction history
Wong 1988 Trust · 7 yrs held
Wong 1988 Trust
since 2018
6 recorded transactions
Zoning & alternative use
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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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%
$2,050,000
6.5%
$1,890,000
7%
$1,755,000
Blend value · Realmo final
$1.61M
Range $1.44M – $1.77M · ±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
$336 / 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
$16,317
Tax year 2024
Assessed value
$1,393,862
Assessed 2024
Previous assessed
$1,393,862
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$696,931
Assessed improvement
$696,931
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
1963
Construction
WOOD
Heating
NONE
Stories
2
Units
6
Rooms
30
Bathrooms
6
Total area
4,778 SF
Lot
0.22 ac (9,496 SF)
APN
016-172-28
UPID
US09-0306291
Jurisdiction
SANTA CRUZ
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1963
Construction
WOOD
Heating
NONE
Stories
2
Units
6
Rooms
30
Bathrooms
6
Lot
0.22 ac
Current owner
From public records · entity-resolved
Wong 1988 Trust
Trust
Mailing address
111 LEE RDA, WATSONVILLE, CA 95076-9422
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
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
Dec 30, 2019
—
Todd Souza
—
Deed
related
$775,000 · Santa Cruz County Bank
Aug 29, 2018
—
Wong 1988 Trust
Wong,horace K & Marie L
Affidavit Of Death
related
$500,000 · Luther Burbank Savings
Sep 2, 2016
—
Norrbom,alice Trust
Norrbom,alice F
Quit Claim Deed
related
—
May 4, 2016
—
Melvin Norrbom
Norrbom Melvin & Alice Trust
Quit Claim Deed
related
—
Sep 1, 2000
$650,000
Norrbom Trust
Golpour,abe & Parvin Y
Grant Deed
—
Feb 24, 1997
$385,000
Abe Golpour
Wong Trust
Grant Deed
$346,500 · Seller
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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