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Property profile & analytics
OFF-MARKET
Estimated value
$1,490,000
Apartment buildings
489 Laurel Ave Pacific Grove, CA 93950-3444
Trust Owned
3-yr Hold
Free & Clear
Property ID
US09-2679717
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1895
Construction
WOOD
Total area
2,327 SF
Lot
0.14 ac (6,000 SF)
APN
006-279-001-000
UPID
US09-2679717
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
$1.51M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.67M
Blend (final)
Blend
$1.49M
Owner & transaction history
Pacific Premier Trust Company LLC · 3 yrs held
Pacific Premier Trust Company LLC
since 2023
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.3M
+41.0%
Office building
$965,000
+4.7%
Auto repair, garage
$930,000
+0.9%
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 Pacific Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pacific Grove 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
$1,495,000
ML approach
$1,505,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$920,000
Current use
COMMERCIAL (GENERAL)
$1,295,000
Change: +41% · Conversion: Moderate
OFFICE BUILDING
$965,000
Change: +5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$930,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$1.49M
Range $1.34M – $1.64M · ±10% · vs last sale $1.48M (Feb 22 2023)
Last sale anchor
$1.48M
Feb 22 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
$640 / 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
$18,162
Tax year 2023
Assessed value
$1,640,691
Assessed 2023
Previous assessed
$1,640,691
+0.0% YoY
Effective rate
1.11%
On assessed value
Assessed land
$884,340
Assessed improvement
$756,351
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
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
1895
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Buildings
5
Stories
2
Units
4
Rooms
5
Bathrooms
1
Total area
2,327 SF
Lot
0.14 ac (6,000 SF)
APN
006-279-001-000
UPID
US09-2679717
Jurisdiction
MONTEREY
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$920,000
COMMERCIAL (GENERAL)
Est. value
$1.3M
OFFICE BUILDING
Est. value
$965,000
AUTO REPAIR, GARAGE
Est. value
$930,000
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1895
Construction
WOOD
Heating
FLOOR/WALL FURNACE
Stories
2
Buildings
5
Units
4
Rooms
5
Bathrooms
1
Lot
0.14 ac
Current owner
From public records · entity-resolved
Pacific Premier Trust Company LLC
Trust
Free & Clear · 3 yrs held
Mailing address
775 HAMILTON AVE STE #800, PALO ALTO, CA 94301-2118
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 22, 2023
—
Pacific Premier Trust Company LLC
Pacific Premier Trust
Intrafamily Transfer
related
—
Mar 17, 2021
$1,478,000
Pacific Premier Trust
Kishore Kagolanu
Grant Deed
—
Jun 20, 2013
$860,000
Kishore Kagolanu
Russell-bruce G 1991 Trust
Grant Deed
$516,000 · Bank Of America
May 7, 1998
—
Russell-bruce Trust
Russell Trust
Quit Claim Deed
related
—
Mar 18, 1993
—
Gaye R Oswald
Oswald Trust
Quit Claim Deed
related
$390,000 · American Savings Bank
Dec 28, 1990
$575,000
Gaye R Oswald
Schlotterbeck,ed
Grant Deed
$400,000 · Bank Of America
Mar 29, 1990
$235,000
L S Becker
Hermann,kenneth
Grant Deed
—
Sep 8, 1989
$525,000
Ed Schlotterbeck
Miller,paul M
Grant Deed
$300,000 · Western Federal Savings & Loan
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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