Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    351 Dela Vina Ave Monterey, CA 93940-3960

    • Apartment buildings
    • 9,015 SF
    • 0.50 lot acres
    OFF-MARKET
    Last Sale
    Jul 12, 2021
    Value Estimations
    $380,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US09-1013034
    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.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 351 Dela Vina Ave

    Year built
    1968
    Construction
    WOOD
    Lot size
    0.50 lot acres
    Property size
    9,015 SF
    Property type
    Apartment buildings
    APN
    013-031-025-000
    APU
    13031025000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $380,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.862
    Latitude
    36.6001
    CBSA code
    41500
    CBSA name
    SALINAS, 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
    2023
    $18,052
    $570,831
    $1,032,751
    $1,603,582
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $375,000
      0.72 Acres

      217 Palo Verde Ave

      APARTMENT HOUSE (100+ UNITS) • 0.72 Acres
      217 Palo Verde Ave, Monterey, CA 93940
      View Details
    • Value Estimation
      $655,000
      1,473 SF

      557 Wave St, Unit 541

      APARTMENT HOUSE (100+ UNITS) • 1,473 SF
      557 Wave St, Monterey, CA 93940-1426
      View Details
    • Value Estimation
      $460,000
      7,336 SF

      2000 David Ave

      APARTMENT HOUSE (5+ UNITS) • 7,336 SF
      2000 David Ave, Monterey, CA 93940-1961
      View Details
    • Value Estimation
      $435,000
      4,328 SF

      200 Dunecrest Ave

      APARTMENT HOUSE (5+ UNITS) • 4,328 SF
      200 Dunecrest Ave, Monterey, CA 93940-3443
      View Details
    • Value Estimation
      $505,000
      6,926 SF

      599 Franklin St

      APARTMENT HOUSE (5+ UNITS) • 6,926 SF
      599 Franklin St, Monterey, CA 93940-2369
      View Details
    • Value Estimation
      $2,385,000
      1,344 SF

      872 Laine St

      APARTMENT HOUSE (5+ UNITS) • 1,344 SF
      872 Laine St, Monterey, CA 93940-1133
      View Details

    Similar Nearby for Sale

    • $2,800,000
      5,033 SF

      Prime Monterey Multifamily Investment

      Iconic Monterey apartment building, downtown location.
      942 Munras Ave, Monterey, CA 93940
      View Details
    • New
      $1,695,000
      3,436 SF

      Monterey Fourplex with ADU Potential

      Fourplex in New Monterey with approved ADU plans near Cannery Row.
      830 Parcel St, Monterey, CA 93940
      View Details
    • Contact for pricing

      Laguna Seca Office Park Land

      Prime Monterey Development Opportunity: 29 Units Possible
      9601 Blue Larkspur Ln, Monterey, CA 93940
      View Details
    • $1,275,000
      1,414 SF

      Versatile Monterey Property Near Downtown

      Charming, versatile property in a prime Monterey location.
      415 Figueroa St, Monterey, CA 93940
      View Details
    • $5,750,000
      21,990 SF

      Monterey Commercial Estate - 6 Acres

      Prime Monterey commercial property, 21,990 sq ft, 6.85 acres.
      1249 Josselyn Canyon Rd, Monterey, CA 93940
      View Details
    • $1,650,000
      1,068 SF

      Monterey Medical Office Condos

      Two Medical Office Suites, Prime Location
      900 Cass St, Monterey, CA 93940
      View Details

    Similar Nearby for Lease

    • $23 SF/Yr
      21,671 SF

      Monterey Office Space For Lease

      Prime Monterey location, flexible suites.
      2511 Garden Rd, Monterey, CA 93940
      View Details
    • $1.75 SF/Yr
      694 SF

      Downtown Monterey Office Space

      Office space in downtown Monterey with off-street parking.
      798 Cass St, Monterey, CA 93940
      View Details
    • $2 SF/Yr
      2,500 SF

      Furnished Office Suite For Rent

      First floor office suite with ample parking and furnishings.
      9825 Blue Larkspur Ln, Monterey, CA 93940
      View Details
    • $17 SF/Yr
      3,207 SF

      Downtown Monterey Medical Office Sublease

      ±3,207 SF Medical Office Space Available
      910 Major Sherman Ln, Monterey, CA 93940
      View Details
    • $24 SF/Yr
      1,752 SF

      Prime Monterey Executive Office Space

      Prestigious Monterey office, flexible suites.
      270 El Dorado St, Monterey, CA 93940
      View Details
    • $2.00 SF/Yr
      3,600 SF

      Monterey Office Space with Balcony

      Office space featuring direct elevator access and wraparound balcony.
      660 Camino Aguajito, Monterey, CA 93940
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    351 Dela Vina Ave
    Monterey, CA 93940-3960
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.