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Property profile & analytics
OFF-MARKET
Estimated value
$17,040,000
Apartment buildings
485 Nees Ave 101, Fresno, CA 93711-6863
Entity Owned
41-yr Hold
Absentee Owner
Property ID
US09-1843060
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1985
Construction
WOOD
Total area
210,336 SF
Lot
11.97 ac (521,413 SF)
Zoning code
RM1
APN
303-630-18
UPID
US09-1843060
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
-
Honey comb hideout Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$22.28M
Blend (final)
Blend
$17.04M
Owner & transaction history
California Summer Place Associates · 41 yrs held
California Summer Place Associates
since 1985
5 recorded transactions
Zoning & alternative use
RM1 · Fresno, 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 Fresno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fresno 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$26,945,000
Current use
RETAIL STORES
$22,140,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$17.04M
Range $15.34M – $18.74M · ±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
$81 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$191,019
Tax year 2023
Assessed value
$15,527,183
Assessed 2023
Previous assessed
$15,527,183
+0.0% YoY
Effective rate
1.23%
On assessed value
Assessed land
$3,055,555
Assessed improvement
$12,471,628
Applied tax rate
5.0000
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
1985
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Units
240
Bathrooms
3
Total area
210,336 SF
Lot
11.97 ac (521,413 SF)
Zoning code
RM1
APN
303-630-18
UPID
US09-1843060
Jurisdiction
FRESNO
Zoning & alternative use
RM1 · Fresno, CA
Zoning RM1 · permitted uses
RM1 · Fresno, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fresno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$26.9M
RETAIL STORES
Est. value
$22.1M
APARTMENT HOUSE (5+ UNITS) Current
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
1985
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
240
Bathrooms
3
Lot
11.97 ac
Current owner
From public records · entity-resolved
California Summer Place Associates
Entity
Mailing address
6485 N PALM AVE STE #101, FRESNO, CA 93704-1072
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
1985
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 30, 2020
—
California Summer Place Assocs
—
Deed
related
$20,865,000 · Pnc Bk
Aug 25, 2016
—
California Summer Place Associates
—
Deed
related
$2,467,000 · Pnc Bank NA
May 24, 1985
$1,560,000
California Summer Place Associates
Franklin,summer Place Ass
Grant Deed
related
—
—
—
California Summer Place Assocs
—
Deed Of Trust
related
$13,185,000 · Pnc Bank
—
—
California Summer Place Assocs
—
Deed Of Trust
related
$20,865,000 · Pnc Bk
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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