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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Garden apartment buildings
3200 Federal Rd 116 Pasadena, TX 77504-1771
Entity Owned
8-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US82-5401995
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
1978
Construction
BRICK
Total area
12,000 SF
Lot
4.96 ac (216,132 SF)
APN
610870000116
UPID
US82-5401995
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
-
Vista Gardens Apartments Apartment Building Apartment Complex
-
Boss Garage Doo`r Repair Hardware & Home Improvement General Contractor
-
Juliza spotless cleaning services Hardware & Home Improvement
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$540k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$954k
Blend (final)
Blend
$750k
Owner & transaction history
Mpm Assets III LLC · 8 yrs held
Mpm Assets III LLC
since 2017
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.1M
+41.4%
Auto repair, garage
$1.1M
+35.6%
Restaurant
$1.0M
+32.1%
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 Pasadena submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pasadena 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
$540,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$780,000
Current use
COMMERCIAL (GENERAL)
$1,100,000
Change: +41% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,055,000
Change: +36% · Conversion: Difficult
RESTAURANT
$1,030,000
Change: +32% · Conversion: Difficult
WAREHOUSE, STORAGE
$780,000
Change: +0% · Conversion: Difficult
RETAIL STORES
$750,000
Change: -4% · Conversion: Difficult
OFFICE BUILDING
$730,000
Change: -6% · Conversion: Moderate
MEDICAL BUILDING
$710,000
Change: -9% · Conversion: Moderate
Blend value · Realmo final
$750k
Range $675k – $825k · ±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
$63 / 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 2022Property tax & assessments
Tax year 2022
Tax billed
$103,641
Tax year 2022
Assessed value
$6,502,854
Assessed 2024
Previous assessed
$9,116,901
-28.7% YoY
Effective rate
1.59%
On assessed value
Assessed land
$1,080,650
Assessed improvement
$5,422,204
Land market value
$1,080,650
Improvement market value
$5,422,204
Total market value
$6,502,854
Applied tax rate
21.0000
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
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
1978
Construction
BRICK
Heating
FORCED AIR
Cooling
CENTRAL
Buildings
13
Stories
2
Rooms
3
Bathrooms
3
Total area
12,000 SF
Lot
4.96 ac (216,132 SF)
APN
610870000116
UPID
US82-5401995
Jurisdiction
HARRIS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$780,000
COMMERCIAL (GENERAL)
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.1M
RESTAURANT
Est. value
$1.0M
WAREHOUSE, STORAGE
Est. value
$780,000
RETAIL STORES
Est. value
$750,000
OFFICE BUILDING
Est. value
$730,000
MEDICAL BUILDING
Est. value
$710,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
RESTAURANT
WAREHOUSE, STORAGE
RETAIL STORES
OFFICE BUILDING
MEDICAL BUILDING
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
1978
Construction
BRICK
Heating
FORCED AIR
Cooling
Yes
Stories
2
Buildings
13
Rooms
3
Bathrooms
3
Lot
4.96 ac
Current owner
From public records · entity-resolved
Mpm Assets III LLC
Entity
Mailing address
9740 W RNCH RD 2147TH #4709, HORSESHOE BAY, TX 78657
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2017
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
Jun 13, 2025
—
Baba Investments Spencer Landing Ll
—
Deed
related
—
Dec 12, 2017
—
Mpm Assets III LLC
Spencer Square Ltd
Grant Deed
related
$5,100,000 · Greystone Svcg
Jun 10, 2016
—
Spencer Square Ltd
—
Deed
related
$3,680,000 · Hunt Mtg Ptrs LLC
Jan 7, 1999
—
Spencer Center Landing LP
Sondock,brad D
Grant Deed
related
—
—
—
Spencer Square Ltd
—
Deed Of Trust
related
$2,800,000 · Column Financial INC
—
—
Spencer Square Ltd
—
Deed Of Trust
related
$3,680,000 · Hunt Mtg Ptrs LLC
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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