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Property profile & analytics
OFF-MARKET
Estimated value
$4,680,000
Apartment buildings
514 Cypress St Covina, CA 91723-1340
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6461801
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD
Total area
16,123 SF
Lot
0.64 ac (27,924 SF)
Zoning code
CVR3-RD200
APN
8429-031-015
UPID
US09-6461801
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
$4.68M
CAP Approach
CAP
$3.99M
Comparable Approach
Comparable
$4.90M
Blend (final)
Blend
$4.68M
Owner & transaction history
First Empire Investment LLC · 2 yrs held
First Empire Investment LLC
since 2024
Last sale
$4.7M
5 recorded transactions
Zoning & alternative use
CVR3-RD200 · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$7.5M
+85.6%
Medical building
$7.3M
+82.4%
Office building
$5.3M
+32.1%
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 Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covina 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
$4,680,000
ML approach
$4,680,000
CAP Approach
CAP Return
Estimation
6%
$4,325,000
6.5%
$3,990,000
7%
$3,705,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,020,000
Current use
AUTO REPAIR, GARAGE
$7,460,000
Change: +86% · Conversion: Difficult
MEDICAL BUILDING
$7,330,000
Change: +82% · Conversion: Moderate
OFFICE BUILDING
$5,305,000
Change: +32% · Conversion: Moderate
COMMERCIAL (GENERAL)
$4,980,000
Change: +24% · Conversion: Moderate
WAREHOUSE, STORAGE
$4,735,000
Change: +18% · Conversion: Difficult
Blend value · Realmo final
$4.68M
Range $4.21M – $5.15M · ±10% · vs last sale $4.68M (Mar 18 2024)
Last sale anchor
$4.68M
Mar 18 2024
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
$290 / 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
$48,939
Tax year 2024
Assessed value
$3,664,415
Assessed 2024
Previous assessed
$3,664,415
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$2,525,977
Assessed improvement
$1,138,438
Applied tax rate
3.0000
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
1963
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
16
Bathrooms
22
Total area
16,123 SF
Lot
0.64 ac (27,924 SF)
Zoning code
CVR3-RD200
APN
8429-031-015
UPID
US09-6461801
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
CVR3-RD200 · Covina, CA
Zoning CVR3-RD200 · permitted uses
CVR3-RD200 · Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covina. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$4.0M
AUTO REPAIR, GARAGE
Est. value
$7.5M
MEDICAL BUILDING
Est. value
$7.3M
OFFICE BUILDING
Est. value
$5.3M
COMMERCIAL (GENERAL)
Est. value
$5.0M
WAREHOUSE, STORAGE
Est. value
$4.7M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
OFFICE BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1963
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
16
Bathrooms
22
Lot
0.64 ac
Current owner
From public records · entity-resolved
First Empire Investment LLC
Entity
Mailing address
20566 JULLIARD DR, WALNUT, CA 91789-2529
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2024
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
Mar 18, 2024
$4,680,000
First Empire Investment LLC
Yxlb LLC
Grant Deed
$2,000,000 · Jpmorgan Chase Bank NA
Dec 23, 2016
$8,050,000
Yxlb LLC
2202 Michigan Ave Apts LP
Grant Deed
$4,800,000 · East West Bank
Oct 3, 2016
—
2202 Michigan Ave Apts LP
—
Deed
related
$4,380,000 · Jpmorgan Chase Bank NA
Mar 31, 2016
$7,025,000
2202 Michigan Ave Apts LP
Klock Partners
Grant Deed
—
Sep 2, 1999
$2,491,500
Partners Klock
Sanchez,salvador S
Grant Deed
$1,620,000 · Arcs Commercial Mortgage Co LP
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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