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Property profile & analytics
OFF-MARKET
Estimated value
$4,130,000
Apartment buildings
340 2nd St, Tustin, CA 92780-3737
Trust Owned
10-yr Hold
Absentee Owner
Property ID
US09-2962708
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1975
Total area
17,800 SF
Lot
0.47 ac (20,574 SF)
APN
401-592-04
UPID
US09-2962708
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
-
Stonegate Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$5.23M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.13M
Owner & transaction history
Sullivan Trust · 10 yrs held
Sullivan Trust
since 2015
7 recorded transactions
Zoning & alternative use
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 Tustin submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tustin 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%
$5,665,000
6.5%
$5,225,000
7%
$4,855,000
Blend value · Realmo final
$4.13M
Range $3.72M – $4.54M · ±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
$232 / 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
$58,379
Tax year 2024
Assessed value
$4,874,458
Assessed 2024
Previous assessed
$4,874,458
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$3,493,364
Assessed improvement
$1,381,094
Applied tax rate
13.0000
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
1975
Heating
NONE
Units
19
Total area
17,800 SF
Lot
0.47 ac (20,574 SF)
APN
401-592-04
UPID
US09-2962708
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
1975
Heating
NONE
Units
19
Lot
0.47 ac
Current owner
From public records · entity-resolved
Sullivan Trust
Trust
Mailing address
2101 E 4TH ST STE 200A, SANTA ANA, CA 92705-3825
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 25, 2015
$4,200,000
Sullivan Trust
Milliken Stonegate LLC
Grant Deed
$2,495,000 · Jpmorgan Chase Bank NA
Dec 31, 2013
—
Milliken Stonegate LLC
Stonegate Tustin Apartments Ll
Quit Claim Deed
related
—
Oct 7, 2003
—
Stonegate Tustin Apts LLC
Wagner,tr
Grant Deed
related
—
Apr 29, 1997
—
Richard Wagner
Batta,
Grant Deed
related
—
Dec 19, 1991
$1,205,000
Thomas Battaglia
Walsh,william E
Grant Deed
$900,000 · World Savings & Loan
Mar 16, 1990
—
William E Walsh
Walsh William E
Quit Claim Deed
related
$600,000 · American Savings Bank
—
—
William E Walsh
—
Deed Of Trust
related
$100,000 · Reliable Mortgage Corp
—
—
William E Walsh
—
Deed Of Trust
related
$140,000 · Kahan Jacob
—
—
William E Walsh
—
Deed Of Trust
related
$43,000 · Home Budget Loans
—
—
William E Walsh
—
Deed Of Trust
related
$180,000 · Equity Investment Fund
—
—
Sullivan Trust
—
Deed Of Trust
related
$2,495,000 · Jp Morgan Chase 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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