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Property profile & analytics
OFF-MARKET
Estimated value
$5,595,000
Apartment buildings
510 Flower St Santa Ana, CA 92703-3958
Entity Owned
1-yr Hold
Absentee Owner
Property ID
US10-3086875
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
12,613 SF
Lot
0.43 ac (18,639 SF)
APN
010-121-59
UPID
US10-3086875
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
$5.68M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$6.41M
Blend (final)
Blend
$5.60M
Owner & transaction history
Marcia Way LLC · 1 yrs held
Marcia Way LLC
since 2025
Last sale
$5.4M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.6M
+66.6%
Industrial (general)
$8.3M
+60.8%
Office building
$7.0M
+34.8%
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 Santa Ana submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Ana 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
$5,850,000
ML approach
$5,680,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$5,165,000
Current use
RESTAURANT
$8,605,000
Change: +67% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$8,305,000
Change: +61% · Conversion: Difficult
OFFICE BUILDING
$6,965,000
Change: +35% · Conversion: Moderate
COMMERCIAL (GENERAL)
$6,820,000
Change: +32% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$5,915,000
Change: +15% · Conversion: Difficult
RETAIL STORES
$4,840,000
Change: -6% · Conversion: Difficult
Blend value · Realmo final
$5.60M
Range $5.04M – $6.15M · ±10% · vs last sale $5.43M (Dec 8 2021)
Last sale anchor
$5.43M
Dec 8 2021
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
$444 / 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
$67,847
Tax year 2024
Assessed value
$5,644,170
Assessed 2024
Previous assessed
$5,644,170
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$4,603,770
Assessed improvement
$1,040,400
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
1980
Heating
NONE
Stories
2
Units
19
Total area
12,613 SF
Lot
0.43 ac (18,639 SF)
APN
010-121-59
UPID
US10-3086875
Jurisdiction
ORANGE
Metro division
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION
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
$5.2M
RESTAURANT
Est. value
$8.6M
INDUSTRIAL (GENERAL)
Est. value
$8.3M
OFFICE BUILDING
Est. value
$7.0M
COMMERCIAL (GENERAL)
Est. value
$6.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.9M
RETAIL STORES
Est. value
$4.8M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
INDUSTRIAL (GENERAL)
OFFICE BUILDING
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1980
Heating
NONE
Stories
2
Units
19
Lot
0.43 ac
Current owner
From public records · entity-resolved
Marcia Way LLC
Entity
Mailing address
901 S GRAMERCY DR UNIT #206, LOS ANGELES, CA 90019-2290
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
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 24, 2025
$3,650,000
Marcia Way LLC
The 2007 Chang Family Trust
Grant Deed
$2,500,000 · Zz Enterprises INC
Dec 8, 2021
$5,425,000
Tae Sook Chang
Thomas M Martinez
Grant Deed
$1,981,500 · Bbcn Bank
Apr 19, 2019
—
Thomas M Martinez
Thomas M Martinez
Intrafamily Transfer
related
$2,460,000 · Jpmorgan Chase Bank NA
Mar 28, 2017
—
Thomas M Martinez
Martinez,reyna I
Quit Claim Deed
related
—
Mar 28, 2017
$3,636,000
Thomas M Martinez
Garcia,mario
Grant Deed
$1,052,000 · Jp Morgan Chase Bk
Nov 13, 2014
$2,450,000
Mario Garcia
Kip Jourdan Kula
Grant Deed
$1,655,000 · Jpmorgan Chase Bank NA
Nov 13, 2014
—
Pedro Garcia
Ana Garcia
Intrafamily Transfer
related
—
Jun 13, 2003
$1,390,000
Kula,tr
Smith,tr
Grant Deed
$980,000 · Abn Amro Mortgage Group INC
Jul 9, 1999
—
Gerald Smith
Smith,
Quit Claim Deed
related
—
Aug 22, 1996
$579,000
Smith,gerald G & Neena M
Street Trust
Trustees Deed
$434,250 · First Fidelity Thrift & Loan
Jan 31, 1996
$620,000
Mai,ha S & Vu-chan L
Hurr,henry & Sonya
Trustees Deed
$210,000 · First Fidelity Thrift & Loan
Oct 18, 1995
$292,501
Flowers Street Trust
Yoshina Trust
Trustees Deed
—
Jul 27, 1992
$380,000
Henry Hur
General,council
Grant Deed
$280,000 · Seller
—
—
James Y Yoshina
—
Deed Of Trust
related
$922,500 · Fidelity Federal Bank
—
—
Smith Trust
—
Deed Of Trust
related
$450,000 · Washington Mutual Fsb
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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