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Property profile & analytics
OFF-MARKET
Estimated value
$2,105,000
Apartment buildings
5551 23rd St, Long Beach, CA 90815-2058
Entity Owned
8-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7326329
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1957
Construction
WOOD
Total area
13,148 SF
Lot
0.39 ac (17,096 SF)
Zoning code
LBR4R
APN
7226-002-017
UPID
US09-7326329
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
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.11M
Owner & transaction history
Sunbeach LLC · 8 yrs held
Sunbeach LLC
since 2018
7 recorded transactions
Zoning & alternative use
LBR4R · Long Beach, 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 Long Beach submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Long Beach 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%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,345,000
Current use
Blend value · Realmo final
$2.11M
Range $1.89M – $2.32M · ±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
$160 / 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
$49,958
Tax year 2024
Assessed value
$3,717,198
Assessed 2024
Previous assessed
$3,717,198
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$2,321,169
Assessed improvement
$1,396,029
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
1957
Construction
WOOD
Heating
NONE
Units
20
Bathrooms
20
Total area
13,148 SF
Lot
0.39 ac (17,096 SF)
Zoning code
LBR4R
APN
7226-002-017
UPID
US09-7326329
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LBR4R · Long Beach, CA
Zoning LBR4R · permitted uses
LBR4R · Long Beach, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Long Beach. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.3M
APARTMENT HOUSE (5+ UNITS) Current
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
1957
Construction
WOOD
Heating
NONE
Units
20
Bathrooms
20
Lot
0.39 ac
Current owner
From public records · entity-resolved
Sunbeach LLC
Entity
Free & Clear · 8 yrs held
Mailing address
2704 LUELF ST, RAMONA, CA 92065-3653
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
14 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 3, 2018
—
Sunbeach LLC
Baldwin,j Devin
Quit Claim Deed
—
Oct 19, 2015
—
J Devin Baldwin
Baldwin,angela E
Affidavit Of Death
related
—
Aug 31, 2015
—
Baldwin,angela E 2002 Trust
Baldwin A E 2002 Trust
Quit Claim Deed
related
$1,265,000 · Greystone Svcg
Oct 4, 2006
$3,100,000
Angela E Baldwin
Gto Properties
Grant Deed
$1,350,000 · Washington Mutual Bank
Aug 18, 2005
$2,800,000
Gto Properties
Dennis W Borgogno
Grant Deed
$1,000,000 · Washington Mutual Bank
Aug 15, 2001
—
Borgogno,dennis W&lois R Trust
Borgogno,d W&l R Trustees
Quit Claim Deed
related
—
Jun 30, 1997
$1,125,000
Dennis W Borgogno
Stephen Trust
Grant Deed
—
Nov 9, 1993
—
Ulmer W Richard
—
Deed Of Trust
related
—
Nov 4, 1993
—
Stephen,yvonne C Trustee
Stephen,y
Quit Claim Deed
related
—
Mar 23, 1993
—
Stephen Yvonne
—
Deed Of Trust
related
—
Jun 12, 1990
—
D Tru
D & W Curtis Tru
Quit Claim Deed
related
$650,000 · Western Financial Savings Bank
—
—
Dennis W Borgogno
—
Deed Of Trust
related
$790,000 · Home Savings Of America
—
—
Borgogno Trust
—
Deed Of Trust
related
$900,000 · World Savings Bank
—
—
Borgogno,tr
—
Deed Of Trust
related
$975,000 · World 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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