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Property profile & analytics
OFF-MARKET
Estimated value
$2,505,000
Apartment buildings
451 Wellesley Dr Corona, CA 92879-5936
Entity Owned
7-yr Hold
Free & Clear
Property ID
US09-4499701
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1990
Construction
WOOD
Total area
14,432 SF
Lot
4.74 ac (206,474 SF)
Zoning code
R3
APN
115-500-016
UPID
US09-4499701
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
-
Promenade Terrace Apartment Complex Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$3.34M
Comparable Approach
Comparable
$3.03M
Blend (final)
Blend
$2.51M
Owner & transaction history
Breit Mf Promenade Terrace LLC · 7 yrs held
Breit Mf Promenade Terrace LLC
since 2019
6 recorded transactions
Zoning & alternative use
R3 · Corona, 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 Corona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Corona 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%
$3,610,000
6.5%
$3,335,000
7%
$3,095,000
Blend value · Realmo final
$2.51M
Range $2.25M – $2.76M · ±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
$174 / 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
$245,354
Tax year 2024
Assessed value
$21,763,555
Assessed 2024
Previous assessed
$21,763,555
+0.0% YoY
Effective rate
1.13%
On assessed value
Assessed land
$4,593,311
Assessed improvement
$17,170,244
Applied tax rate
4.0000
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
1990
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Units
3
Total area
14,432 SF
Lot
4.74 ac (206,474 SF)
Zoning code
R3
APN
115-500-016
UPID
US09-4499701
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Corona, CA
Zoning R3 · permitted uses
R3 · Corona, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Corona. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1990
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Units
3
Lot
4.74 ac
Current owner
From public records · entity-resolved
Breit Mf Promenade Terrace LLC
Entity
Free & Clear · 7 yrs held
Mailing address
451 WELLESLEY DR, CORONA, CA 92879-5936
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2019
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
Sep 23, 2019
—
Breit Mf Promenade Terrace LLC
—
Grant Deed
related
$575,386,000 · Wells Fargo Bk
May 2, 2019
$99,000,000
Breit Mf Promenade Terrace LLC
Ttc Roc III Promenade LLC
Grant Deed
—
Sep 3, 2015
—
Ttc Roc III Promenade LLC
Eqr-promenade Terrace LP
Quit Claim Deed
related
—
Sep 3, 2015
$78,368,000
Ttc Roc III Promenade LLC
Eqr Promenade Terrace Limited Partn
Grant Deed
$59,250,000 · Wells Fargo Bank NA
Jul 19, 1996
—
Operating LP Erp
Promenade Terrace
Grant Deed
related
—
Nov 15, 1995
$20,700,000
Terrace Promenade
Promenade Terrace Associates
Grant Deed
related
$16,720,000 · Teachers Insurance & Annuity
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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