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Property profile & analytics
OFF-MARKET
Estimated value
$1,870,000
Apartment buildings
535 Lark Ellen Ave Covina, CA 91722-3404
Entity Owned
5-yr Hold
Free & Clear
Property ID
US09-8377666
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1981
Construction
WOOD
Total area
6,048 SF
Lot
0.44 ac (19,048 SF)
Zoning code
CVRD2000*
APN
8434-011-005
UPID
US09-8377666
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
-
Hanzel Charles J Physician
-
Real Fitness Gym & Fitness Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.86M
CAP Approach
CAP
$1.50M
Comparable Approach
Comparable
$2.11M
Blend (final)
Blend
$1.87M
Owner & transaction history
Aim Equity LLC · 5 yrs held
Aim Equity LLC
since 2021
Last sale
$1.9M
7 recorded transactions
Zoning & alternative use
CVRD2000* · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$2.8M
+77.9%
Medical building
$2.8M
+74.8%
Office building
$1.9M
+20.1%
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
$1,685,000
ML approach
$1,860,000
CAP Approach
CAP Return
Estimation
6%
$1,620,000
6.5%
$1,495,000
7%
$1,390,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,575,000
Current use
AUTO REPAIR, GARAGE
$2,795,000
Change: +78% · Conversion: Difficult
MEDICAL BUILDING
$2,750,000
Change: +75% · Conversion: Moderate
OFFICE BUILDING
$1,890,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,870,000
Change: +19% · Conversion: Moderate
WAREHOUSE, STORAGE
$1,775,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$1.87M
Range $1.68M – $2.06M · ±10% · vs last sale $1.85M (May 26 2021)
Last sale anchor
$1.85M
May 26 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
$309 / 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
$25,566
Tax year 2024
Assessed value
$1,963,234
Assessed 2024
Previous assessed
$1,963,234
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$1,416,712
Assessed improvement
$546,522
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
1981
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
1
Units
6
Rooms
6
Bathrooms
12
Total area
6,048 SF
Lot
0.44 ac (19,048 SF)
Zoning code
CVRD2000*
APN
8434-011-005
UPID
US09-8377666
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
CVRD2000* · Covina, CA
Zoning CVRD2000* · permitted uses
CVRD2000* · 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
$1.6M
AUTO REPAIR, GARAGE
Est. value
$2.8M
MEDICAL BUILDING
Est. value
$2.8M
OFFICE BUILDING
Est. value
$1.9M
COMMERCIAL (GENERAL)
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.8M
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
1981
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
6
Rooms
6
Bathrooms
12
Lot
0.44 ac
Current owner
From public records · entity-resolved
Aim Equity LLC
Entity
Free & Clear · 5 yrs held
Mailing address
PO BOX 661904, ARCADIA, CA 91066-1904
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 19, 2021
—
Aim Equity LLC
—
Deed
related
$850,000 · Farmers & Merchants Bank
May 26, 2021
$1,850,000
Aim Equity LLC
535 N Lark Ellen Avenue LLC
Grant Deed
—
Mar 8, 2019
—
535 N Lark Ellen Avenue LLC
Oronoz Family Trust
Quit Claim Deed
—
Nov 22, 2013
$1,225,000
Joe Oronoz
Charles J Hanzel SR.
Grant Deed
$625,000 · Jpmorgan Chase Bank NA
Nov 1, 2006
—
Hanzel C J SR & M M S Trust
Hanzel,charles J SR & Mary M S
Quit Claim Deed
related
—
Mar 5, 2004
—
Charles J Hanzel
Loo,william & Jenny S
Grant Deed
$570,600 · Kaiser Federal Bank
May 21, 2002
$600,000
William Loo
Hong,sing & Dominga L
Grant Deed
$420,000 · Standard Savings Bank
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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