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Property profile & analytics
OFF-MARKET
Estimated value
$1,195,000
Apartment buildings
440 Atascadero Rd, Morro Bay, CA 93442-1698
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US10-3180765
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1953
Construction
WOOD
Total area
4,178 SF
Lot
0.37 ac (15,939 SF)
Zoning code
CVS
APN
068-283-032
UPID
US10-3180765
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
$1.21M
CAP Approach
CAP
$1.24M
Comparable Approach
Comparable
$734k
Blend (final)
Blend
$1.20M
Owner & transaction history
Kathryn D Bonner · 3 yrs held
Kathryn D Bonner
since 2023
Last sale
$1.1M
6 recorded transactions
Zoning & alternative use
CVS · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.9M
+23.3%
Medical building
$1.7M
+10.9%
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
$1,265,000
ML approach
$1,205,000
CAP Approach
CAP Return
Estimation
6%
$1,345,000
6.5%
$1,240,000
7%
$1,150,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,550,000
Current use
AUTO REPAIR, GARAGE
$1,910,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$1,715,000
Change: +11% · Conversion: Moderate
RETAIL STORES
$1,355,000
Change: -13% · Conversion: Difficult
Blend value · Realmo final
$1.20M
Range $1.08M – $1.31M · ±10% · vs last sale $1.13M (Feb 24 2023)
Last sale anchor
$1.13M
Feb 24 2023
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
$286 / 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
$20,696
Tax year 2024
Assessed value
$1,872,720
Assessed 2024
Previous assessed
$1,872,720
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$676,260
Assessed improvement
$1,196,460
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
1953
Construction
WOOD
Heating
NONE
Rooms
12
Bathrooms
24
Total area
4,178 SF
Lot
0.37 ac (15,939 SF)
Zoning code
CVS
APN
068-283-032
UPID
US10-3180765
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
CVS · Morro Bay, CA
Zoning CVS · permitted uses
CVS · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.6M
AUTO REPAIR, GARAGE
Est. value
$1.9M
MEDICAL BUILDING
Est. value
$1.7M
RETAIL STORES
Est. value
$1.4M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
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
1953
Construction
WOOD
Heating
NONE
Rooms
12
Bathrooms
24
Lot
0.37 ac
Current owner
From public records · entity-resolved
Kathryn D Bonner
Individual
Free & Clear · 3 yrs held
Mailing address
216 FAIRWAY DR, DANVILLE, CA 94526-1909
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
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
Feb 24, 2023
—
Kathryn D Bonner
Susan Leigh Mello
Intrafamily Transfer
related
—
Nov 13, 2015
$1,130,000
Bell,calvin & Jean Family Trust
Fellows Family Living Trust
Grant Deed
—
Oct 9, 2014
—
Fellows Family Living Trust
Fellows Family Living Trust
Quit Claim Deed
related
—
Feb 6, 2007
$1,050,000
Fellows Family Trust
Arnott,brad
Grant Deed
$434,500 · Brad Arnott
Aug 20, 2004
$840,000
Brad Arnott
Briggs,helen J
Grant Deed
$420,000 · Helen J Briggs
Jun 30, 1992
—
Helen J Briggs
Merrill,hank
Grant Deed
$12,000 · Individual
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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