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    3640 Pio Pico Dr Carlsbad, CA 92008-2556
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    Property profile & analytics

    3640 Pio Pico Dr, Carlsbad, CA 92008-2556

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    • Apartment buildings
    • 2,757 SF
    • 0.17 lot acres
    Off-Market
    Last Sale Feb 10, 2021
    $976,000
    Property ID
    US09-9775656
    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
    $955,000
    Show details
    Cap Rate Potential
    5.9%
    Apartment buildings
    Location Intelligence

    Current Use by Public Records

    • Knockout Carpet Cleaning / Carpet Cleaning Service
    • Mindful Movers North County / Moving Company

    Property Details for 3640 Pio Pico Dr

    Year built
    1964
    Lot size
    0.17 lot acres
    Zone code
    R-3:RESTRICTED MULTIPLE
    Property type
    Apartment buildings
    APN
    205-191-16-00
    APU
    2051911600

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Nov 5, 2024 — Neel R Pujara — Deed · related $600k · Cardiff Giant Holdings LLC
    Mar 4, 2021 — Neel R Pujara — Deed · related $450k · Oak Avenue Carlsbad LLC
    Feb 10, 2021 — Neel R Pujara Neel R Pujara Intrafamily Transfer · related —
    Jun 29, 2020 — Neel R Pujara — Deed · related $855k · First Republic Bank
    Aug 23, 2019 $976,000 Km Living Trust Rhodes,daniel A & Jenny R Grant Deed $825k · Ettesource INC
    Aug 23, 2019 — Daniel A Rhodes Rhodes,kristina Quit Claim Deed · related —
    Dec 17, 2018 — Daniel A Rhodes Rhodes T L & E M 1993 Trust Quit Claim Deed · related —
    Jun 5, 2015 — Rhodes,t L & Edith M 1993 Trust B Rhodes T L & E M 1993 Trust Quit Claim Deed · related —
    — — Rhodes,tr — Deed Of Trust · related $227k · Bank Of America
    — — Theodore Rhodes — Deed Of Trust · related $188k · Home Savings Of America
    — — Rhodes Trust — Deed Of Trust · related $142k · Bank Of America

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $925,000
      ML approach
      $940,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $910,000
      6.5%
      $840,000
      7%
      $780,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $1,545,000
      Current use
      MEDICAL BUILDING
      $1,310,000
      Change: -15% Conversion: Moderate

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

    Location Insight

    • Map
    • Local Demand
    City
    Carlsbad
    County
    San Diego
    State
    California
    Longitude
    -117.338
    Latitude
    33.1561
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, 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
    $11,898
    $825,594
    $281,051
    $1,106,645
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

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      2270 Avenida Magnifica, Unit 90

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      306 Chinquapin Ave

      APARTMENT HOUSE (5+ UNITS)
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    • Value Estimation
      $7,995,000
      46,534 SF

      1050 Chinquapin Ave, Unit 60

      APARTMENT HOUSE (5+ UNITS)
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      View Details

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      Seven-unit multifamily property, refreshed, near the Village and beach.
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      Seven-Unit Multifamily Building Near Beach

      Seven-unit multifamily building near the Village and beach.
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      Carlsbad Blvd Coastal Development Opportunity

      Two parcels near the beach with redevelopment and income potential.
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    Similar Nearby for Lease

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      Planned Retail Development in Carlsbad

      Retail spaces in a planned community with residential units.
      4615-4625 Gdn Hl Loop, Carlsbad, CA 92008
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      Pending

      Carlsbad Retail Space Available

      Retail space for rent in Carlsbad Village.
      300 Carlsbad Village Dr, Carlsbad, CA 92008
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    • $3 SF/Yr
      22,286 SF

      Carlsbad Office Space Available

      8,210 SF office space for rent in Carlsbad.
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      6,484 SF

      Carlsbad Flex R&D Space

      Flex R&D space available for lease in Carlsbad.
      2262 Rutherford Rd, Carlsbad, CA 92008
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      Carlsbad Office Space Available

      Office space available for rent in Carlsbad, California.
      5937 Darwin Ct, Carlsbad, CA 92008
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    • Contact for pricing
      3,881 SF

      Carlsbad Industrial Property for Rent

      Industrial property available for rent in Carlsbad, California.
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    Carlsbad, CA 92008-2556
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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.

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