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Property profile & analytics
OFF-MARKET
Estimated value
$1,720,000
Apartment buildings
38563 Larkin Ave Palmdale, CA 93550-4547
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-8684439
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1973
Construction
WOOD
Total area
6,532 SF
Lot
0.37 ac (16,273 SF)
Zoning code
PDR3*
APN
3008-015-036
UPID
US09-8684439
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
$2.08M
CAP Approach
CAP
$1.56M
Comparable Approach
Comparable
$1.15M
Blend (final)
Blend
$1.72M
Owner & transaction history
Mk Apartments LLC · 5 yrs held
Mk Apartments LLC
since 2021
7 recorded transactions
Zoning & alternative use
PDR3* · Palmdale, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.0M
+131.2%
Warehouse, storage
$1.9M
+119.9%
Auto repair, garage
$1.4M
+63.5%
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 Palmdale submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palmdale 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
$2,095,000
ML approach
$2,075,000
CAP Approach
CAP Return
Estimation
6%
$1,690,000
6.5%
$1,560,000
7%
$1,450,000
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$2,020,000
Change: +131% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,920,000
Change: +120% · Conversion: Difficult
AUTO REPAIR, GARAGE
$1,425,000
Change: +63% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$1,350,000
Change: +55% · Conversion: Difficult
Blend value · Realmo final
$1.72M
Range $1.55M – $1.89M · ±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
$263 / 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
$20,220
Tax year 2024
Assessed value
$1,269,607
Assessed 2024
Previous assessed
$1,269,607
+0.0% YoY
Effective rate
1.59%
On assessed value
Assessed land
$190,393
Assessed improvement
$1,079,214
Applied tax rate
17.0000
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
1973
Construction
WOOD
Heating
NONE
Units
9
Bathrooms
9
Total area
6,532 SF
Lot
0.37 ac (16,273 SF)
Zoning code
PDR3*
APN
3008-015-036
UPID
US09-8684439
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
PDR3* · Palmdale, CA
Zoning PDR3* · permitted uses
PDR3* · Palmdale, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palmdale. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$2.0M
WAREHOUSE, STORAGE
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.4M
INDUSTRIAL (GENERAL)
Est. value
$1.4M
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
INDUSTRIAL (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
1973
Construction
WOOD
Heating
NONE
Units
9
Bathrooms
9
Lot
0.37 ac
Current owner
From public records · entity-resolved
Mk Apartments LLC
Entity
Mailing address
4900 SANTA ANITA AVE STE 2C, EL MONTE, CA 91731-1490
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 10, 2021
—
Mk Apartments LLC
Oscar Ronaldo Castillo
Grant Deed
—
Nov 17, 2006
$1,375,000
Oscar Ronaldo Castillo
Philip Bowlay Williams
Grant Deed
$1,021,900 · Impac Commercial Capital Corp
Jun 8, 2005
—
Philip B Williams
Bondy Services INC
Quit Claim Deed
related
$862,500 · First Federal Bank Ca
Oct 7, 2004
—
Elizabeth Bowlay-williams
Bowlay-williams,philip
Quit Claim Deed
related
—
Dec 12, 1995
$170,000
Philip B Williams
Nisson Trust
Grant Deed
$110,500 · Golden Security Thrift & Loan
Jan 23, 1995
$371,000
Nisson Trust
M G M P Foothill Enterprises
Grant Deed
—
Dec 31, 1992
$230,000
M G M P Foothill Enterprises INC
—
Grant Deed
related
—
Sep 2, 1992
$470,000
Glendale Fed Bank
Bkl Properties
Trustees Deed
related
—
—
—
M G M P Foothill Enterprises INC
—
Deed Of Trust
related
$48,190 · Individual
—
—
M G M P Foothill Enterprises INC
—
Deed Of Trust
related
$269,175 · Individual
—
—
Philip Bowlay-williams
—
Deed Of Trust
related
$480,000 · Golden Security Bank
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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