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Property profile & analytics
OFF-MARKET
Estimated value
$1,215,000
Apartment buildings
438 Bay Vw Ave Wilmington, CA 90744-5392
Individually Owned
10-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7589906
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1931
Construction
WOOD
Total area
6,428 SF
Lot
0.21 ac (9,273 SF)
Zoning code
LAOS
APN
7417-021-023
UPID
US09-7589906
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
$1.59M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.22M
Owner & transaction history
Manuel A Cortes · 10 yrs held
Manuel A Cortes
since 2016
6 recorded transactions
Zoning & alternative use
LAOS · Wilmington, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$1.9M
+25.4%
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 Wilmington submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wilmington 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%
$1,725,000
6.5%
$1,590,000
7%
$1,480,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,505,000
Current use
WAREHOUSE, STORAGE
$1,890,000
Change: +25% · Conversion: Difficult
Blend value · Realmo final
$1.22M
Range $1.09M – $1.34M · ±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
$189 / 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
$17,779
Tax year 2024
Assessed value
$1,366,212
Assessed 2024
Previous assessed
$1,366,212
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$796,478
Assessed improvement
$569,734
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
1931
Construction
WOOD
Heating
NONE
Cooling
YES
Units
12
Bathrooms
12
Total area
6,428 SF
Lot
0.21 ac (9,273 SF)
Zoning code
LAOS
APN
7417-021-023
UPID
US09-7589906
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAOS · Wilmington, CA
Zoning LAOS · permitted uses
LAOS · Wilmington, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Wilmington. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.9M
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
1931
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
12
Bathrooms
12
Lot
0.21 ac
Current owner
From public records · entity-resolved
Manuel A Cortes
Individual
Free & Clear · 10 yrs held
Mailing address
29636 N ENROSE AVE, RANCHO PALOS VERDES, CA 90275-1333
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2016
—
Manuel A Cortes
Cortes,joellen
Affidavit Of Death
related
—
Jun 26, 2003
—
Cortes,tr
Cortes,manuel A & J Ellen
Quit Claim Deed
related
—
May 6, 1997
$181,500
Manuel A Cortes
Fidelity Federal Bank
Grant Deed
—
Dec 11, 1996
$173,640
Fidelity Federal Bank
Bentsen,palle A & Rose
Trustees Deed
related
—
Sep 30, 1992
—
Scudder Stuart
—
Deed Of Trust
related
—
Aug 11, 1992
—
Samuel Schoenberg
—
Deed Of Trust
related
—
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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