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Property profile & analytics
OFF-MARKET
Estimated value
$1,405,000
Apartment buildings
311 Hamilton Ave Hemet, CA 92543-2732
Entity Owned
20-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2725517
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1979
Construction
WOOD
Total area
4,280 SF
Lot
1.66 ac (72,309 SF)
Zoning code
R3
APN
442-051-017
UPID
US09-2725517
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
$1.07M
Comparable Approach
Comparable
$1.58M
Blend (final)
Blend
$1.41M
Owner & transaction history
1112 W Devonshire INC · 20 yrs held
1112 W Devonshire INC
since 2006
7 recorded transactions
Zoning & alternative use
R3 · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+22.0%
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 Hemet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hemet 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%
$1,155,000
6.5%
$1,065,000
7%
$990,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,515,000
Current use
AUTO REPAIR, GARAGE
$1,850,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,265,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.41M
Range $1.26M – $1.55M · ±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
$328 / 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
$15,739
Tax year 2024
Assessed value
$1,337,060
Assessed 2024
Previous assessed
$1,337,060
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$376,700
Assessed improvement
$960,360
Applied tax rate
6.0000
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
1979
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
2
Units
5
Total area
4,280 SF
Lot
1.66 ac (72,309 SF)
Zoning code
R3
APN
442-051-017
UPID
US09-2725517
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Hemet, CA
Zoning R3 · permitted uses
R3 · Hemet, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hemet. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.5M
AUTO REPAIR, GARAGE
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.3M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
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
1979
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
5
Lot
1.66 ac
Current owner
From public records · entity-resolved
1112 W Devonshire INC
Entity
Mailing address
2016 RIVERSIDE DR, LOS ANGELES, CA 90039-3707
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2006
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
Jun 19, 2006
—
1112 W Devonshire INC
Jk Properties INC
Grant Deed
$7,747,400 · Centennial Mortgage
Jul 13, 1999
—
Stedfast Gta LLC
—
Grant Deed
related
$61,150,000 · Newman Financial Services INC
Aug 4, 1998
$3,645,000
Steadfast Gta LLC
Green Tree Partners
Grant Deed
$4,000,000 · Contitrade Services LLC
Dec 31, 1996
—
V K Construction Dev
Green,tree Ptnrs
Trustees Deed
related
$1,023,426 · Green Tree Partners
Oct 31, 1995
—
Tree Ptnrs Green
Provident,sb
Grant Deed
related
—
Nov 1, 1990
$1,170,000
Donald W Lee
Orange Coast Fin
Grant Deed
$800,000 · Provident Savings Bank
—
—
Green Tree Partners
—
Deed Of Trust
related
$700,000 · Ai Investors
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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