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Property profile & analytics
OFF-MARKET
Estimated value
$3,575,000
Apartment buildings
3044 State St Carlsbad, CA 92008-2339
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9788431
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
3,598 SF
Lot
0.28 ac (12,199 SF)
Zoning code
COMMERCIAL
APN
203-297-04-00
UPID
US09-9788431
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
-
Villagio Carlsbad Cottages Hotel & Motel
-
Paige Riley (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.41M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.94M
Blend (final)
Blend
$3.58M
Owner & transaction history
Carisbad Bungalows LLC · 4 yrs held
Carisbad Bungalows LLC
since 2021
Last sale
$3.7M
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Carlsbad, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.9M
+192.8%
Neighborhood: shopping center
$3.2M
+60.6%
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 Carlsbad submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Carlsbad 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
$3,500,000
ML approach
$3,405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,910,000
Change: +193% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,240,000
Change: +61% · Conversion: Difficult
Blend value · Realmo final
$3.58M
Range $3.22M – $3.93M · ±10% · vs last sale $3.70M (Oct 29 2021)
Last sale anchor
$3.70M
Oct 29 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
$994 / 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
$40,992
Tax year 2024
Assessed value
$3,849,480
Assessed 2024
Previous assessed
$3,849,480
+0.0% YoY
Effective rate
1.06%
On assessed value
Assessed land
$3,329,280
Assessed improvement
$520,200
Applied tax rate
9.0000
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
Heating
NONE
Units
7
Total area
3,598 SF
Lot
0.28 ac (12,199 SF)
Zoning code
COMMERCIAL
APN
203-297-04-00
UPID
US09-9788431
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Carlsbad, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · Carlsbad, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Carlsbad. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$5.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$3.2M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
Heating
NONE
Units
7
Lot
0.28 ac
Current owner
From public records · entity-resolved
Carisbad Bungalows LLC
Entity
Mailing address
162 S RANCHO SANTA FE RD STE E70, ENCINITAS, CA 92024-6335
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 13, 2022
—
Carlsbad Bungalows LLC
—
Deed
related
$3,275,000 · First Entertainment Cu
Oct 29, 2021
$3,700,000
Carisbad Bungalows LLC
Villagio Carlsbad Cottages LLC
Grant Deed
$4,000,000 · Richard Fuller Etux
Jul 28, 2014
$1,855,000
Villagio Carlsbad Cottages LLC
3044 State Street LLC
Grant Deed
$1,200,000 · Sunwest Bank
Jan 19, 2005
$1,200,000
3044 State Street LLC
Bmorleyt LLC
Grant Deed
$750,000 · East West Bank
Sep 30, 2004
—
Rosalie Kopp
Kopp,joseph E
Quit Claim Deed
related
—
Sep 30, 2004
$950,000
Bmorleyt LLC
Kopp,rosalie
Grant Deed
$100,000 · Mary E Barry
—
—
Villagio Carlsbad Cottages LLC
—
Loan Modification
related
$1,690,000 · Sunwest Bk
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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