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Property profile & analytics
OFF-MARKET
Estimated value
$4,170,000
Apartment buildings
409 Thornton Ave Hemet, CA 92543-7636
Individually Owned
35-yr Hold
~
Est. High Equity
Property ID
US09-1338010
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1991
Construction
WOOD
Total area
11,808 SF
Lot
11.37 ac (495,277 SF)
Zoning code
A1
APN
451-100-029
UPID
US09-1338010
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
-
Quail Ridge Apartments Apartment Building
-
Miss P Daycare services Apartment Building
-
FitWifey Physician
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$2.94M
Comparable Approach
Comparable
$4.72M
Blend (final)
Blend
$4.17M
Owner & transaction history
Quail Ridge Apar · 35 yrs held
Quail Ridge Apar
since 1990
2 recorded transactions
Zoning & alternative use
A1 · Hemet, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$5.1M
+22.0%
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 Hemet submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Hemet 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%
$3,185,000
6.5%
$2,940,000
7%
$2,730,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,180,000
Current use
AUTO REPAIR, GARAGE
$5,100,000
Change: +22% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,490,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$4.17M
Range $3.75M – $4.59M · ±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
$353 / 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
$127,234
Tax year 2024
Assessed value
$10,951,562
Assessed 2024
Previous assessed
$10,951,562
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$1,962,412
Assessed improvement
$8,989,150
Applied tax rate
6.0000
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 (100+ UNITS)
Status
Off-Market
Year built
1991
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
2
Units
6
Bathrooms
2
Total area
11,808 SF
Lot
11.37 ac (495,277 SF)
Zoning code
A1
APN
451-100-029
UPID
US09-1338010
Jurisdiction
RIVERSIDE
Zoning & alternative use
A1 · Hemet, CA
Zoning A1 · permitted uses
A1 · Hemet, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Hemet. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.2M
AUTO REPAIR, GARAGE
Est. value
$5.1M
WAREHOUSE, STORAGE
Est. value
$3.5M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1991
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
6
Bathrooms
2
Lot
11.37 ac
Current owner
From public records · entity-resolved
Quail Ridge Apar
Individual
Mailing address
409 E THORNTON AVE, HEMET, CA 92543-7636
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
1990
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 26, 2002
—
Quali Ridge Apartments
—
Deed Of Trust
related
$5,380,000 · Wells Fargo Bank
Sep 1, 1990
—
Quail Ridge Apar
Quail Ridge Apar
Quit Claim Deed
related
$8,160,000 · First Interstate Bank Californ
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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