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Property profile & analytics
OFF-MARKET
Estimated value
$16,095,000
Apartment buildings
310 Dunne Ave Morgan Hill, CA 95037-4669
Entity Owned
24-yr Hold
~
Est. High Equity
Property ID
US09-3736287
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2003
Construction
WOOD
Total area
74,982 SF
Lot
4.79 ac (208,652 SF)
Zoning code
R3
APN
817-11-068
UPID
US09-3736287
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
-
Murphy Ranch LP Ranch
-
Evangeline Elizares Real Estate Agency
-
Formula Garage Door Repair Morgan Hill Building Supply General Contractor
-
Expect Contract Accounting Services Accounting Firm Tax Preparation
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$21.93M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$16.10M
Owner & transaction history
Murphy Ranch LP · 24 yrs held
Murphy Ranch LP
since 2001
4 recorded transactions
Zoning & alternative use
R3 · Morgan Hill, CA
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 Morgan Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morgan Hill 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%
$23,755,000
6.5%
$21,925,000
7%
$20,360,000
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$26,655,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$16.10M
Range $14.49M – $17.70M · ±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
$215 / 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
$4,091
Tax year 2024
Assessed value
$18,406,192
Assessed 2024
Previous assessed
$18,406,192
+0.0% YoY
Effective rate
0.02%
On assessed value
Assessed land
$2,256,241
Assessed improvement
$16,149,951
Applied tax rate
4.0000
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
2003
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
62
Total area
74,982 SF
Lot
4.79 ac (208,652 SF)
Zoning code
R3
APN
817-11-068
UPID
US09-3736287
Jurisdiction
SANTA CLARA
Zoning & alternative use
R3 · Morgan Hill, CA
Zoning R3 · permitted uses
R3 · Morgan Hill, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morgan Hill. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
WAREHOUSE, STORAGE
Est. value
$26.7M
WAREHOUSE, STORAGE
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
2003
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
62
Lot
4.79 ac
Current owner
From public records · entity-resolved
Murphy Ranch LP
Entity
Mailing address
75 E SANTA CLARA ST STE #1300, SAN JOSE, CA 95113-1837
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2001
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 13, 2001
$2,307,000
Murphy Ranch LP
Pratt Trust
Grant Deed
$3,300,000 · Redevelopment Agcy Morgan Hill
—
—
Murphy Ranch LP
—
Deed Of Trust
related
$500,000 · Lenders For Community Dev
—
—
Murphy Ranch LP
—
Deed Of Trust
related
$3,283,550 · Housing & Community Dev
—
—
Murphy Ranch LP
—
Deed Of Trust
related
$149,654 · California Housing Finance Agy
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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