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Property profile & analytics
OFF-MARKET
Estimated value
$935,000
Apartment buildings
590 Morton Ave Porterville, CA 93257-3339
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-5827031
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1976
Construction
WOOD
Total area
8,576 SF
Lot
0.35 ac (15,246 SF)
Zoning code
R-M-2
APN
252-080-024-000
UPID
US09-5827031
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
$930k
CAP Approach
CAP
$1.10M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$935k
Owner & transaction history
Mendez Property Group · 3 yrs held
Mendez Property Group
since 2022
Last sale
$900,000
7 recorded transactions
Zoning & alternative use
R-M-2 · Porterville, 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 Porterville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Porterville 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
$1,005,000
ML approach
$930,000
CAP Approach
CAP Return
Estimation
6%
$1,185,000
6.5%
$1,095,000
7%
$1,015,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,165,000
Current use
OFFICE BUILDING
$1,100,000
Change: -6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,000,000
Change: -14% · Conversion: Difficult
RETAIL STORES
$950,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$935k
Range $842k – $1.03M · ±10% · vs last sale $900k (Aug 3 2022)
Last sale anchor
$900k
Aug 3 2022
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
$109 / 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
$9,944
Tax year 2024
Assessed value
$918,000
Assessed 2024
Previous assessed
$918,000
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$102,000
Assessed improvement
$816,000
Applied tax rate
4.0000
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
1976
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Buildings
6
Stories
2
Units
9
Rooms
18
Total area
8,576 SF
Lot
0.35 ac (15,246 SF)
Zoning code
R-M-2
APN
252-080-024-000
UPID
US09-5827031
Jurisdiction
TULARE
Zoning & alternative use
R-M-2 · Porterville, CA
Zoning R-M-2 · permitted uses
R-M-2 · Porterville, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Porterville. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$1.0M
RETAIL STORES
Est. value
$950,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1976
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Buildings
6
Units
9
Rooms
18
Lot
0.35 ac
Current owner
From public records · entity-resolved
Mendez Property Group
Entity
Mailing address
3245 23RD AVE, SACRAMENTO, CA 95820-4703
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 3, 2022
$900,000
Mendez Property Group
Ralph Martin Hovannisian
Grant Deed
$585,000 · Velocity Commercial Capital LLC
Apr 2, 2019
—
Hovannisian,r M & J 2003 F Trust
Hovannisian,ralph & Janet
Quit Claim Deed
related
—
Jul 11, 2018
—
Ralph M Hovannisian
Hovannisian 1992 Trust
Quit Claim Deed
related
—
Jun 4, 2018
—
Hovannisian 1992 Trust
Hovannisian,marian
Affidavit Of Death
related
—
Jul 20, 2004
—
Hovannisian,tr
Hovannisian,tr
Quit Claim Deed
related
—
Dec 22, 1997
$135,000
Hovannisian Trust
Glendale Federal Bank
Grant Deed
—
Oct 2, 1997
$101,388
Glendale Federal Bank
Yohannes,john J & Andrea C
Trustees Deed
related
—
Oct 25, 1995
—
Porterville City
Porterville Properties Ltd
Quit Claim Deed
related
—
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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