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    342 Wilkerson Ave Perris, CA 92570-2271

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    342 Wilkerson Ave Perris, CA 92570-2271

    View on Map
    • Apartment buildings
    • 16,360 SF
    • 1.35 lot acres
    Off-Market
    Last Sale Jan 31, 2022
    $2,792,000
    Property ID
    US09-1011181
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    $3,330,000
    Show details
    Cap Rate Potential
    7%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Perris Villas Apartments / Apartment Building

    Property Details for 342 Wilkerson Ave

    Year built
    1993
    Construction
    WOOD
    Lot size
    1.35 lot acres
    Property size
    16,360 SF
    Zone code
    C1
    Property type
    Apartment buildings
    APN
    310-070-073
    APU
    310070073

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $3,780,000
      ML approach
      $3,765,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $4,415,000
      6.5%
      $4,075,000
      7%
      $3,785,000

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,762,000
      Market price range: $1.31M - $3.78M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Perris
    County
    Riverside
    State
    California
    Longitude
    -117.22
    Latitude
    33.7839
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $38,462
    $636,963
    $2,728,026
    $3,364,989
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $970,000
      3,922 SF

      1355 Perris Blvd

      APARTMENT HOUSE (5+ UNITS) • 3,922 SF
      1355 Perris Blvd, Perris, CA 92570-2584
      View Details
    • Value Estimation
      $835,000
      3,317 SF

      116 Midway St

      APARTMENT HOUSE (5+ UNITS) • 3,317 SF
      116 Midway St, Perris, CA 92570-3517
      View Details
    • Value Estimation
      $505,000
      2,456 SF

      1040 Tepee Ln

      APARTMENT HOUSE (5+ UNITS) • 2,456 SF
      1040 Tepee Ln, Perris, CA 92570-1743
      View Details
    • Value Estimation by Request
      2,640 SF

      179 5th St

      APARTMENT HOUSE (5+ UNITS) • 2,640 SF
      179 5th St, Perris, CA 92570-2118
      View Details
    • Value Estimation
      $500,000
      1,516 SF

      403 B St

      APARTMENT HOUSE (5+ UNITS) • 1,516 SF
      403 B St, Perris, CA 92570-2052
      View Details
    • Value Estimation by Request
      3,080 SF

      340 8th St

      APARTMENT HOUSE (5+ UNITS) • 3,080 SF
      340 8th St, Perris, CA 92570-2365
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      6.73 Acres Heavy Industrial Land

      6.73 acres with heavy industrial zoning, income-producing RV park.
      190 Mapes Rd, Perris, CA 92570
      View Details
    • $300,000
      71,002.80 Acres

      Perris Land in Opportunity Zone

      1.63 acre mixed-use land parcel in an Opportunity Zone.
      24002 Nuevo Rd, Perris, CA 92570
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    • $699,000
      Pending

      Perris Land/Lot For Sale

      Located in Enchanted Heights, close to downtown Perris.
      Diana St, Perris, CA 92570
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    • $4,995,900
      1,747,191.60 Acres

      Perris Land with Development Potential

      40.11 acres with development and agricultural opportunities in Perris.
      19203 Cajalco Rd, Perris, CA 92570
      View Details
    • $4,145,610
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      Perris Land Assemblage Opportunity

      3.07 acre Perris property with commercial/industrial zoning change potential.
      21105 Webster Ave, Perris, CA 92570
      View Details
    • $4,145,610
      2,428 SF

      Perris Land Assemblage Opportunity

      3.07 acres in Perris, CA, with commercial/industrial zoning potential.
      21063 Webster Ave, Perris, CA 92570
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Industrial Facility with Outdoor Storage

      Modern industrial facility with outdoor storage and office space.
      19972 Patterson Ave, Perris, CA 92570
      View Details
    • Contact for pricing

      Perris Warehouse Space Available

      108,872 SF warehouse with 32' clear height.
      Riverside County CA Oleander Ave And Harvill Ave, Perris, CA 92570
      View Details
    • Contact for pricing
      1,138,800 SF

      Perris Warehouse Near Freeway

      Large warehouse property with immediate freeway access in Perris, CA.
      19115 Harvill Ave, Perris, CA 92570
      View Details
    • Contact for pricing

      Retail and Restaurant Spaces Available

      Retail and restaurant spaces available with freeway signage.
      Nec Cajalco Expy & Harvill Ave, Perris, CA 92570
      View Details
    • Contact for pricing

      Perris Freestanding Warehouse For Lease

      Freestanding warehouse with truck court and immediate freeway access.
      18631 Seaton Ave, Perris, CA 92570
      View Details
    • Contact for pricing

      Perris Warehouse Space Available

      106,552 SF warehouse space with 32' clear height.
      Riverside County CA Oleander Ave & Decker Rd, Perris, CA 92570
      View Details
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    342 Wilkerson Ave
    Perris, CA 92570-2271
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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