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Property profile & analytics
OFF-MARKET
Estimated value
$8,765,000
Apartment buildings
351 St Tulare, CA 93274-3415
Entity Owned
17-yr Hold
~
Est. High Equity
Property ID
US09-5834807
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2008
Total area
84,070 SF
Lot
5.1 ac (222,155 SF)
Zoning code
RM2
APN
168-470-012-000
UPID
US09-5834807
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$10.74M
Comparable Approach
Comparable
$6.44M
Blend (final)
Blend
$8.77M
Owner & transaction history
City Of Tulare · 17 yrs held
City Of Tulare
since 2008
7 recorded transactions
Zoning & alternative use
RM2 · Tulare, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$12.0M
+4.8%
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 Tulare submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Tulare 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%
$11,635,000
6.5%
$10,740,000
7%
$9,975,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$11,430,000
Current use
RETAIL STORES
$11,985,000
Change: +5% · Conversion: Difficult
OFFICE BUILDING
$10,845,000
Change: -5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$9,805,000
Change: -14% · Conversion: Difficult
Blend value · Realmo final
$8.77M
Range $7.89M – $9.64M · ±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
$104 / 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
$24
Tax year 2024
Assessed value
$12,242,596
Assessed 2024
Previous assessed
$12,242,596
+0.0% YoY
Effective rate
0.00%
On assessed value
Assessed land
$845,666
Assessed improvement
$11,396,930
Applied tax rate
5.0000
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
2008
Heating
NONE
Stories
2
Total area
84,070 SF
Lot
5.1 ac (222,155 SF)
Zoning code
RM2
APN
168-470-012-000
UPID
US09-5834807
Jurisdiction
TULARE
Zoning & alternative use
RM2 · Tulare, CA
Zoning RM2 · permitted uses
RM2 · Tulare, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Tulare. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$11.4M
RETAIL STORES
Est. value
$12.0M
OFFICE BUILDING
Est. value
$10.8M
AUTO REPAIR, GARAGE
Est. value
$9.8M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
2008
Heating
NONE
Stories
2
Lot
5.1 ac
Current owner
From public records · entity-resolved
City Of Tulare
Entity
Mailing address
531 ENCINITAS BLVD STE #206, ENCINITAS, CA 92024-3773
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 18, 2008
—
City Of Tulare
Tulare Family Housing Ptrs
Quit Claim Deed
related
—
Jan 4, 2007
—
Tulare Family Housing Ptrs
—
Trustees Deed
related
$6,644,000 · Bank Of America
Jan 11, 2006
$1,500,000
Tulare Family Housing Ptrs
Great Valley Land Co LLC
Grant Deed
$2,525,000 · Trght INC
Dec 30, 2005
—
Great Valley Land Co LLC
Nunley,greg & Michelle
Grant Deed
related
—
Dec 28, 2005
$550,000
Greg Nunley
Nunes,clarence & Dorothy
Grant Deed
—
—
—
Tulare II Family Hsng Ptrs LP
—
Deed Of Trust
related
$9,132,119 · California Tax Credit Allocati
—
—
Tulare Family Housing Ptrs
—
Deed Of Trust
related
$10,235,000 · Richman Group INC
—
—
Tulare Family Housing Ptrs
—
Deed Of Trust
related
$300,000 · Redevelopment Agency Tulare
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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