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Property profile & analytics
OFF-MARKET
Estimated value
$14,945,000
Apartment buildings
56 Atkinson Ln C207, Watsonville, CA 95076-2186
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US10-2289741
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2018
Construction
WOOD
Total area
40,585 SF
Lot
2.4 ac (104,631 SF)
Zoning code
R-1-6
APN
048-211-25
UPID
US10-2289741
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
-
weaver qigong Professional Services Sports Activity Location
-
Pippin Orchards Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$16.07M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$14.95M
Owner & transaction history
Mp Pippin Associates LP · 9 yrs held
Mp Pippin Associates LP
since 2016
7 recorded transactions
Zoning & alternative use
R-1-6 · Watsonville, 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 Watsonville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Watsonville 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%
$17,410,000
6.5%
$16,070,000
7%
$14,925,000
Alternative Use
Use
Estimation
RESTAURANT
$24,345,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$14.95M
Range $13.45M – $16.44M · ±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
$368 / 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
$1,768
Tax year 2024
Assessed value
$14,624,938
Assessed 2024
Previous assessed
$14,624,938
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$2,033,790
Assessed improvement
$12,591,148
Applied tax rate
2.0000
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
2018
Construction
WOOD
Heating
RADIANT
Units
26
Rooms
12
Bathrooms
34
Total area
40,585 SF
Lot
2.4 ac (104,631 SF)
Zoning code
R-1-6
APN
048-211-25
UPID
US10-2289741
Jurisdiction
SANTA CRUZ
Zoning & alternative use
R-1-6 · Watsonville, CA
Zoning R-1-6 · permitted uses
R-1-6 · Watsonville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Watsonville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$24.3M
RESTAURANT
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
2018
Construction
WOOD
Heating
RADIANT
Units
26
Rooms
12
Bathrooms
34
Lot
2.4 ac
Current owner
From public records · entity-resolved
Mp Pippin Associates LP
Entity
Mailing address
303 VINTAGE PARK DR STE #250, FOSTER CITY, CA 94404-1176
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 24, 2019
—
Mp Pippin Associates LP
—
Deed
related
$21,317,397 · Mufg Union Bk NA
Nov 22, 2016
$2,532,909
Mp Pippin Associates LP
Mid Peninsula The Farm INC
Grant Deed
$21,317,397 · Mufg Union Bank NA
Nov 15, 2016
—
Mid-peninsula Farm INC
—
Deed
related
—
Feb 8, 2012
$1,550,500
Mid Peninsula The Farm INC
56 Atkinson Lane Associates LLC
Grant Deed
$5,642,640 · County Of Santa Cruz
Apr 25, 2008
—
56 Atkinson Lane Assocs LLC
Mosiman,corwyn & Michelle
Grant Deed
$2,612,650 · Pacific Valley Bank
Sep 5, 2006
—
Corwyn Mosiman
Gladys I Hart
Grant Deed
$700,000 · Gmac Mortgage Corp
—
—
Mp Pippin Associates LP
—
Loan Modification
related
$21,317,397 · Mufg Union Bk NA
—
—
Mid-peninsula Farm INC
—
Loan Modification
related
—
—
—
Mid-peninsula Farm INC
—
Loan Modification
related
$4,642,640 · Private Individual
—
—
56 Atkinson Lane Assocs LLC
—
Deed Of Trust
related
$300,000 · Mosiman Trust
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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