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Property profile & analytics
OFF-MARKET
Estimated value
$825,000
Apartment buildings
431 Simpson Ave Hemet, CA 92543-4811
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2458259
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
WOOD
Total area
3,600 SF
Lot
0.25 ac (10,890 SF)
Zoning code
R3
APN
446-031-015
UPID
US09-2458259
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
by Request
CAP Approach
CAP
$895k
Comparable Approach
Comparable
$963k
Blend (final)
Blend
$825k
Owner & transaction history
Malas LLC · 4 yrs held
Malas LLC
since 2022
7 recorded transactions
Zoning & alternative use
R3 · Hemet, CA
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 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%
$970,000
6.5%
$895,000
7%
$830,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,275,000
Current use
WAREHOUSE, STORAGE
$1,065,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$825k
Range $743k – $908k · ±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
$229 / 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
$3,342
Tax year 2024
Assessed value
$520,200
Assessed 2024
Previous assessed
$520,200
+0.0% YoY
Effective rate
0.64%
On assessed value
Assessed land
$83,232
Assessed improvement
$436,968
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 (5+ UNITS)
Status
Off-Market
Year built
1972
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Stories
1
Units
2
Total area
3,600 SF
Lot
0.25 ac (10,890 SF)
Zoning code
R3
APN
446-031-015
UPID
US09-2458259
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Hemet, CA
Zoning R3 · permitted uses
R3 · 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
$1.3M
WAREHOUSE, STORAGE
Est. value
$1.1M
APARTMENT HOUSE (5+ UNITS) Current
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
1972
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
1
Units
2
Lot
0.25 ac
Current owner
From public records · entity-resolved
Malas LLC
Entity
Mailing address
7452 HANOVER LN, RIVERSIDE, CA 92509-6917
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
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
Jan 25, 2022
—
Malas LLC
Alex Burciaga JR
Grant Deed
—
Jan 24, 2022
—
Alex Burciaga JR
Martha Cuevas
Grant Deed
$360,000 · Nmsi INC
Aug 25, 2021
—
Malas LLC
Alex Burciaga JR
Quit Claim Deed
related
—
Jul 7, 2020
—
Alex Burciaga JR
—
Deed
related
$357,000 · Royal Pacific Funding Corp
Jun 30, 2017
—
Alex Burciaga JR
—
Deed
related
$252,000 · Wells Fargo Bank NA
Jun 30, 2011
$225,000
Alex Burciaga JR
Federal National Mortgage Associati
Grant Deed
$168,750 · Wells Fargo Bank NA
Jun 30, 2011
—
Alex Burciaga JR.
Cuevas,martha A
Grant Deed
related
—
Apr 27, 2011
$463,317
Federal Natl Mtg Assn Fnma
Quality Loan Service Corp
Trustees Deed
related
—
Dec 3, 1996
$139,000
Mark Morgan
Lisor Trust
Grant Deed
$111,200 · Home Savings Of America
—
—
Mark Morgan
—
Deed Of Trust
related
$75,000 · Washington Mutual Fsb
—
—
Mark Morgan
—
Deed Of Trust
related
$100,000 · Washington Mutual Fsb
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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