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Property profile & analytics
OFF-MARKET
Estimated value
$11,520,000
Apartment buildings
3240 Olive St Lemon Grove, CA 91945-1768
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9587636
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
39,680 SF
Lot
1.74 ac (75,794 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
480-171-18-00
UPID
US09-9587636
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
-
Pels Bellezza Apartment Building
-
Olive Avenue Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$8.07M
CAP Approach
CAP
$10.15M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$11.52M
Owner & transaction history
Lemon Grove Investor 1 LLC · 4 yrs held
Lemon Grove Investor 1 LLC
since 2021
Last sale
$12.2M
7 recorded transactions
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Lemon Grove, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$18.8M
+50.8%
Auto repair, garage
$15.2M
+21.3%
Office building
$14.3M
+14.5%
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 Lemon Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lemon Grove 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
$11,540,000
ML approach
$8,065,000
CAP Approach
CAP Return
Estimation
6%
$10,990,000
6.5%
$10,145,000
7%
$9,420,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$12,490,000
Current use
MEDICAL BUILDING
$18,830,000
Change: +51% · Conversion: Moderate
AUTO REPAIR, GARAGE
$15,150,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$14,310,000
Change: +15% · Conversion: Moderate
RETAIL STORES
$13,275,000
Change: +6% · Conversion: Difficult
Blend value · Realmo final
$11.52M
Range $10.37M – $12.67M · ±10% · vs last sale $12.20M (Sep 9 2021)
Last sale anchor
$12.20M
Sep 9 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
$290 / 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
$185,309
Tax year 2024
Assessed value
$12,687,678
Assessed 2024
Previous assessed
$12,687,678
+0.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$5,722,200
Assessed improvement
$6,965,478
Applied tax rate
15.0000
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
1980
Heating
NONE
Units
50
Bathrooms
5
Total area
39,680 SF
Lot
1.74 ac (75,794 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
480-171-18-00
UPID
US09-9587636
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Lemon Grove, CA
Zoning R-4:MULTIPLE RESIDENTIAL · permitted uses
R-4:MULTIPLE RESIDENTIAL · Lemon Grove, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lemon Grove. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$12.5M
MEDICAL BUILDING
Est. value
$18.8M
AUTO REPAIR, GARAGE
Est. value
$15.2M
OFFICE BUILDING
Est. value
$14.3M
RETAIL STORES
Est. value
$13.3M
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
AUTO REPAIR, GARAGE
OFFICE BUILDING
RETAIL STORES
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
1980
Heating
NONE
Units
50
Bathrooms
5
Lot
1.74 ac
Current owner
From public records · entity-resolved
Lemon Grove Investor 1 LLC
Entity
Mailing address
610 N SANTA ANITA AVE, ARCADIA, CA 91006-2722
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2021
—
Lemon Grove Investor 1 LLC
—
Deed
related
$7,975,000 · Pacific Premier Bank
Sep 9, 2021
$12,200,000
Lemon Grove Investor 1 LLC
3240 Olive Property LLC
Grant Deed
—
Aug 16, 2019
$10,650,000
3240 Olive Property LLC
Dego INC
Grant Deed
$7,455,000 · Pacific Western National Bank
Dec 21, 2018
—
Dego INC
Immobilier Olive LLC
Quit Claim Deed
—
Nov 15, 2013
$6,350,000
Immobilier Olive LLC
3240 Partners Ltd
Grant Deed
$4,050,000 · Jpmorgan Chase Bank NA
Oct 18, 2007
—
3240 Partners Ltd
3240 Partners Ltd
Quit Claim Deed
related
$3,000,000 · Countrywide Bank
—
—
Partners Lt 3240
—
Deed Of Trust
related
$1,868,000 · Home Savings Of America
—
—
3240 Partners Ltd
—
Deed Of Trust
related
$2,025,000 · Fidelity Fsb
—
—
3240 Partners Ltd
—
Deed Of Trust
related
$2,400,000 · Archon Financial LP
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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