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Property profile & analytics
OFF-MARKET
Estimated value
$910,000
Apartment buildings
482 Pico Rd Palm Springs, CA 92262-1918
Individually Owned
1-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3582573
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1957
Construction
WOOD
Total area
3,475 SF
Lot
0.23 ac (10,018 SF)
Zoning code
RGA6
APN
504-083-015
UPID
US09-3582573
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
$845k
CAP Approach
CAP
$865k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$910k
Owner & transaction history
William Morgan Burse III · 1 yrs held
William Morgan Burse III
since 2025
Last sale
$989,000
7 recorded transactions
Zoning & alternative use
RGA6 · Palm Springs, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$1.5M
+2.5%
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 Palm Springs submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Springs 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
$860,000
ML approach
$845,000
CAP Approach
CAP Return
Estimation
6%
$935,000
6.5%
$865,000
7%
$805,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,465,000
Current use
AUTO REPAIR, GARAGE
$1,500,000
Change: +2% · Conversion: Difficult
WAREHOUSE, STORAGE
$1,200,000
Change: -18% · Conversion: Difficult
RETAIL STORES
$1,180,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$910k
Range $819k – $1.00M · ±10% · vs last sale $989k (Mar 28 2025)
Last sale anchor
$989k
Mar 28 2025
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
$262 / 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
$13,506
Tax year 2024
Assessed value
$989,000
Assessed 2024
Previous assessed
$989,000
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$210,000
Assessed improvement
$779,000
Applied tax rate
11.0000
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
1957
Construction
WOOD
Heating
NONE
Stories
1
Units
5
Total area
3,475 SF
Lot
0.23 ac (10,018 SF)
Zoning code
RGA6
APN
504-083-015
UPID
US09-3582573
Jurisdiction
RIVERSIDE
Zoning & alternative use
RGA6 · Palm Springs, CA
Zoning RGA6 · permitted uses
RGA6 · Palm Springs, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Springs. 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
AUTO REPAIR, GARAGE
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.2M
RETAIL STORES
Est. value
$1.2M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1957
Construction
WOOD
Heating
NONE
Stories
1
Units
5
Lot
0.23 ac
Current owner
From public records · entity-resolved
William Morgan Burse III
Individual
Mailing address
402 NW 3RD ST, BENTONVILLE, AR 72712-5254
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
22 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 28, 2025
—
William Morgan Burse III
Onyx Property Investments LLC
Deed
related
$865,000 · Michael Massie Etal
Oct 18, 2023
$989,000
Onyx Property Investments LLC
James B Bauer
Grant Deed
$642,800 · Desert Insulation INC
Dec 5, 2022
—
James B Bauer
Homeowners
Grant Deed
—
Dec 21, 2020
$704,000
Homeowners LLC
Sundown Properties INC
Grant Deed
$207,000 · Firstbank
Jan 23, 2018
—
Sundown Properties INC
—
Deed
related
$335,000 · Wild Dragon LP
Dec 2, 2014
$445,000
Sundown Properties INC
Landmark Real Estate Services LLC
Grant Deed
$244,750 · Reprop Financial Mortgage Investors
Nov 15, 2013
$360,000
Landmark Real Estates Services
Wamu Servicing LP
Grant Deed
$270,000 · Homequity Fndg Corp 401k Plan
Jan 23, 2013
$289,596
Wamu Servicing LP
Unionbancal Mortgage Corp
Trustees Deed
related
—
Mar 10, 2005
$527,000
Joe Salvemini
Lynch,kelly
Grant Deed
$303,000 · Union Bank Of California
Apr 2, 2003
$319,000
Kelly Lynch
Feenstra,tr
Grant Deed
$319,000 · Margaret K Leverence
Aug 30, 1996
$125,000
Feenstra Trust
Federal National Mortgage Assn
Grant Deed
$93,750 · Pacific Thrift & Loan Co
Apr 17, 1996
$95,000
Federal National Mortgage Assn
Bescos,paul
Trustees Deed
related
—
Jun 8, 1995
—
Winowski,mark S
Dischner,cena
Quit Claim Deed
related
—
Oct 15, 1992
$45,000
Cena Dischner
Berardi,mario
Grant Deed
related
—
Feb 1, 1990
$52,000
Berardi Mario
Mcleod Joe
Grant Deed
related
—
Jan 1, 1989
$36,000
Mcleod Joe
Bescos Paul
Trustees Deed
related
—
—
—
Kelly Lynch
—
Deed Of Trust
related
$395,000 · Gn Mortgage Corp
—
—
Joe Mcleod
—
Deed Of Trust
related
—
—
—
Landmark Real Estate Solutions
—
Deed Of Trust
related
$80,000 · Homequity Fndg Corp 401k Plan
—
—
Mario Berardi
—
Deed Of Trust
related
$100,000 · Central Holdings
—
—
Sundown Properties INC
—
Deed Of Trust
related
$335,000 · Wild Dragon LP
—
—
Berardi Mario
—
Deed Of Trust
related
$23,000 · Abbott Andrea
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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