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Property profile & analytics
OFF-MARKET
Estimated value
$860,000
Apartment buildings
35151 Lucerne Rd Soledad, CA 93960-9511
Individually Owned
3-yr Hold
~
Est. High Equity
Property ID
US09-0062315
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1930
Construction
WOOD
Total area
2,276 SF
Lot
0.33 ac (14,374 SF)
APN
165-062-001-000
UPID
US09-0062315
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
$845k
CAP Approach
CAP
$565k
Comparable Approach
Comparable
$1.02M
Blend (final)
Blend
$860k
Owner & transaction history
Frank G Flores · 3 yrs held
Frank G Flores
since 2023
Last sale
$862,500
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$940,000
+4.7%
Auto repair, garage
$910,000
+0.9%
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 Soledad submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Soledad 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
$875,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
$610,000
6.5%
$565,000
7%
$525,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$900,000
Current use
OFFICE BUILDING
$940,000
Change: +5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$910,000
Change: +1% · Conversion: Difficult
COMMERCIAL (GENERAL)
$865,000
Change: -4% · Conversion: Moderate
Blend value · Realmo final
$860k
Range $774k – $946k · ±10% · vs last sale $863k (Mar 6 2023)
Last sale anchor
$863k
Mar 6 2023
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
$378 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$6,365
Tax year 2023
Assessed value
$563,480
Assessed 2023
Previous assessed
$563,480
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$330,142
Assessed improvement
$233,338
Applied tax rate
94.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1930
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Units
4
Rooms
5
Bathrooms
1
Total area
2,276 SF
Lot
0.33 ac (14,374 SF)
APN
165-062-001-000
UPID
US09-0062315
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$900,000
OFFICE BUILDING
Est. value
$940,000
AUTO REPAIR, GARAGE
Est. value
$910,000
COMMERCIAL (GENERAL)
Est. value
$865,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
COMMERCIAL (GENERAL)
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
1930
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Units
4
Rooms
5
Bathrooms
1
Lot
0.33 ac
Current owner
From public records · entity-resolved
Frank G Flores
Individual
Mailing address
107 FLAGG HL DR, MONTEREY, CA 93940-6318
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2023
—
Frank G Flores
Frank G Flores
Intrafamily Transfer
related
—
May 14, 2018
$862,500
Frank G Flores
Conway Family Trust
Grant Deed
$493,000 · Wfb NA
Feb 20, 2018
—
Conway Family Trust
—
Deed
related
$202,000 · Enrique Family Ptshp LP
Dec 9, 2015
—
Conway Family Trust
Conway,peterson & Wendy
Quit Claim Deed
related
—
Dec 7, 2015
—
Peterson Conway
Conway Family Trust
Quit Claim Deed
related
$500,000 · Miscellaneous Ins Co
Jul 29, 2011
$277,000
Conway Family Trust
Ricca R A & H E Trust
Grant Deed
related
—
Jan 14, 2009
—
Ricca R A & H E Family Trust
Warren,rick & Cynthia
Deed In Lieu Of Foreclosure
related
—
Sep 1, 2006
$550,000
Rick Warren
Ricca R A & H E Trust
Grant Deed
$540,000 · Ricca R A & H E Family Trust
Sep 1, 2006
—
Hazel E Ricca
Ricca,rudolph A
Affidavit Of Death
related
—
Mar 20, 2006
—
Ricca R A & H E Family Trust
Ricca R A & H E Family Trust
Quit Claim Deed
related
—
Nov 19, 1998
—
Belli Trust
Belli Trust
Quit Claim Deed
related
—
—
—
Peterson Conway
—
Deed Of Trust
related
$200,000 · Eric Schneider
—
—
Conway Family Trust
—
Deed Of Trust
related
$202,000 · Enrique Family Ptshp 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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