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Property profile & analytics
OFF-MARKET
Estimated value
$15,575,000
Apartment buildings
400 Merrimac Way Costa Mesa, CA 92626-6145
Individually Owned
10-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1252366
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Total area
56,766 SF
Lot
1.78 ac (77,546 SF)
APN
141-731-04
UPID
US09-1252366
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
Current use
Occupant on record · Public records
-
US PRO SRG Appliance Repair Home Appliance Store
-
Travis Homeowners & Auto Insurance Insurance Agency
-
Coast Apartments Apartment Complex
-
VM - Costa Mesa Atm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$18.54M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$15.58M
Owner & transaction history
Cypress School District · 10 yrs held
Cypress School District
since 2015
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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 Costa Mesa submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Costa Mesa 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%
$20,080,000
6.5%
$18,535,000
7%
$17,215,000
Alternative Use
Use
Estimation
AUTO REPAIR, GARAGE
$25,320,000
Change: -7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$22,610,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$15.58M
Range $14.02M – $17.13M · ±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
$274 / 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
$270,023
Tax year 2024
Assessed value
$23,269,748
Assessed 2024
Previous assessed
$23,269,748
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$17,989,085
Assessed improvement
$5,280,663
Applied tax rate
15.0000
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
1968
Heating
NONE
Stories
3
Units
65
Total area
56,766 SF
Lot
1.78 ac (77,546 SF)
APN
141-731-04
UPID
US09-1252366
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
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
AUTO REPAIR, GARAGE
Est. value
$25.3M
INDUSTRIAL (GENERAL)
Est. value
$22.6M
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
1968
Heating
NONE
Stories
3
Units
65
Lot
1.78 ac
Current owner
From public records · entity-resolved
Cypress School District
Individual
Mailing address
9470 MOODY ST, CYPRESS, CA 90630-2919
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 14, 2015
—
Cypress School District
Coast Apartments LLC
Grant Deed
—
Jun 19, 2014
—
Coast Apartments LLC
Ct Merrimac LLC
Grant Deed
$10,075,000 · Jpmorgan Chase Bank NA
Sep 29, 2011
$11,980,000
Ct Merrimac LLC
Gbw Investments INC
Grant Deed
$8,200,000 · Jpmorgan Chase Bank NA
—
—
Gbw Inv INC
—
Deed Of Trust
related
$2,475,000 · American Savings 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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