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Property profile & analytics
OFF-MARKET
Estimated value
$1,075,000
Apartment buildings
509 Limited Ave Lake Elsinore, CA 92530-3660
Trust Owned
7-yr Hold
Free & Clear
Property ID
US09-0270220
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1967
Construction
WOOD
Total area
5,229 SF
Lot
0.1 ac (4,356 SF)
Zoning code
R3
APN
374-251-012
UPID
US09-0270220
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
by Request
CAP Approach
CAP
$1.30M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.08M
Owner & transaction history
Cao-duong Family Trust · 7 yrs held
Cao-duong Family Trust
since 2019
7 recorded transactions
Zoning & alternative use
R3 · Lake Elsinore, 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 Lake Elsinore submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Lake Elsinore 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%
$1,410,000
6.5%
$1,300,000
7%
$1,210,000
Blend value · Realmo final
$1.08M
Range $968k – $1.18M · ±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
$206 / 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
$3,351
Tax year 2024
Assessed value
$295,160
Assessed 2024
Previous assessed
$295,160
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$56,517
Assessed improvement
$238,643
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 (5+ UNITS)
Status
Off-Market
Year built
1967
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
2
Stories
2
Units
2
Total area
5,229 SF
Lot
0.1 ac (4,356 SF)
Zoning code
R3
APN
374-251-012
UPID
US09-0270220
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Lake Elsinore, CA
Zoning R3 · permitted uses
R3 · Lake Elsinore, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Lake Elsinore. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1967
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
2
Units
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Cao-duong Family Trust
Trust
Free & Clear · 7 yrs held
Mailing address
509 W LIMITED AVE, LAKE ELSINORE, CA 92530-3660
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 11, 2019
—
Cao-duong Family Trust
Cao Family Trust
Quit Claim Deed
related
—
May 25, 2011
$275,000
Cao Family Trust
Cao,xuanlan
Quit Claim Deed
related
—
Dec 6, 2010
—
Xuanlan Cao
Cao Family Trust
Quit Claim Deed
related
—
Feb 26, 2007
—
Cao Family Trust
Cao,khoa V
Quit Claim Deed
related
—
Jun 23, 2006
$655,000
Khoa V Cao
Kevin H Cao
Grant Deed
related
$523,000 · Indymac Bank Fsb
Oct 27, 2004
$595,000
Kevin H Cao
Shay,brad C & Gena
Grant Deed
$476,000 · Cmg Mortgage INC
Jul 14, 1995
$870,000
Landvak Corp
Lakeside Villas Ltd
Grant Deed
$73,000 · John C Keller Do Medical Corp
—
—
Brad C Shay
—
Deed Of Trust
related
$170,000 · Ditech Com
—
—
Khoa V Cao
—
Deed Of Trust
related
$532,000 · Suntrust Mortgage INC
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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