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Property profile & analytics
OFF-MARKET
Estimated value
$960,000
Apartment buildings
655 11th St, Reedley, CA 93654-2538
Entity Owned
2-yr Hold
~
Est. High Equity
Property ID
US09-1586185
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
WOOD
Total area
6,090 SF
Lot
0.8 ac (34,980 SF)
Zoning code
R3
APN
370-122-04
UPID
US09-1586185
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
$1.19M
Comparable Approach
Comparable
$756k
Blend (final)
Blend
$960k
Owner & transaction history
Summer Wheat LLC · 2 yrs held
Summer Wheat LLC
since 2024
Last sale
$950,000
3 recorded transactions
Zoning & alternative use
R3 · Reedley, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.3M
+67.6%
Medical building
$1.2M
+53.4%
Office building
$1.0M
+33.2%
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 Reedley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Reedley 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%
$1,285,000
6.5%
$1,185,000
7%
$1,100,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$775,000
Current use
RESTAURANT
$1,300,000
Change: +68% · Conversion: Difficult
MEDICAL BUILDING
$1,190,000
Change: +53% · Conversion: Moderate
OFFICE BUILDING
$1,030,000
Change: +33% · Conversion: Moderate
AUTO REPAIR, GARAGE
$895,000
Change: +15% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$650,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$960k
Range $864k – $1.06M · ±10% · vs last sale $950k (Mar 26 2024)
Last sale anchor
$950k
Mar 26 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
$158 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$5,671
Tax year 2023
Assessed value
$479,466
Assessed 2023
Previous assessed
$479,466
+0.0% YoY
Effective rate
1.18%
On assessed value
Assessed land
$114,347
Assessed improvement
$365,119
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
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
1972
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Units
8
Bathrooms
8
Total area
6,090 SF
Lot
0.8 ac (34,980 SF)
Zoning code
R3
APN
370-122-04
UPID
US09-1586185
Jurisdiction
FRESNO
Zoning & alternative use
R3 · Reedley, CA
Zoning R3 · permitted uses
R3 · Reedley, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Reedley. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$775,000
RESTAURANT
Est. value
$1.3M
MEDICAL BUILDING
Est. value
$1.2M
OFFICE BUILDING
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$895,000
INDUSTRIAL (GENERAL)
Est. value
$650,000
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
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
1972
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
8
Bathrooms
8
Lot
0.8 ac
Current owner
From public records · entity-resolved
Summer Wheat LLC
Entity
Mailing address
823 W PONDEROSA AVE, REEDLEY, CA 93654-2015
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
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 26, 2024
$950,000
Summer Wheat LLC
David P Donaldson
Grant Deed
—
Sep 25, 2013
—
Donaldson,d P & N A Family Trust
Donaldson,david P & Nikki A
Quit Claim Deed
related
—
Mar 31, 1994
$295,000
David P Donaldson
Hertzler,charles
Grant Deed
$215,000 · Seller
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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