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Property profile & analytics
OFF-MARKET
Estimated value
$10,255,000
Apartment buildings
656 San Pedro Ln Morgan Hill, CA 95037-5220
Entity Owned
23-yr Hold
Absentee Owner
Property ID
US09-0153227
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1988
Construction
WOOD
Total area
51,060 SF
Lot
4.12 ac (179,467 SF)
Zoning code
R3
APN
817-11-031
UPID
US09-0153227
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
$10.26M
Owner & transaction history
Las Casas De San Pedro LLC · 23 yrs held
Las Casas De San Pedro LLC
since 2002
7 recorded transactions
Zoning & alternative use
R3 · Morgan Hill, 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 Morgan Hill submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morgan Hill 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$201 / 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
$127,751
Tax year 2024
Assessed value
$11,024,411
Assessed 2024
Previous assessed
$11,024,411
+0.0% YoY
Effective rate
1.16%
On assessed value
Assessed land
$4,117,827
Assessed improvement
$6,906,584
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
1988
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
65
Total area
51,060 SF
Lot
4.12 ac (179,467 SF)
Zoning code
R3
APN
817-11-031
UPID
US09-0153227
Jurisdiction
SANTA CLARA
Zoning & alternative use
R3 · Morgan Hill, CA
Zoning R3 · permitted uses
R3 · Morgan Hill, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morgan Hill. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1988
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
65
Lot
4.12 ac
Current owner
From public records · entity-resolved
Las Casas De San Pedro LLC
Entity
Mailing address
910 FALLOWFIELD LN, WATSONVILLE, CA 95076-9774
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2002
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
May 3, 2022
—
Las Casas De San Pedro LLC
—
Deed
related
$2,000,000 · Jpmorgan Chase Bank NA
Apr 13, 2017
—
Las Casas De San Pedro LLC
—
Deed
related
$7,000,000 · Jpmorgan Chase Bank NA
Sep 12, 2002
$7,750,000
Las Casas De San Pedro LLC
Lung,tai-ping & Nei-ting
Grant Deed
$5,300,000 · Financial Inst Partners Mtg
Nov 25, 1998
$328,000
Edward K Chang
Jeffsam Corp
Grant Deed
—
Sep 18, 1997
$86,500
Jeffsam Corp
Milest 109 LP
Grant Deed
related
—
Apr 2, 1997
$1,040,000
Lung,tai-ping & Nei-tai
Ho Trust
Trustees Deed
related
—
Apr 2, 1997
$100,000
Jeffsam Corp
Milest 109 LP
Trustees Deed
related
—
Sep 28, 1994
$4,125,000
Milest 109 LP
Las Casas De San Pedro
Grant Deed
—
—
—
Casas De San Las
—
Deed Of Trust
related
$3,600,000 · Homefed Bank
—
—
Las Casas De San Pedro LLC
—
Deed Of Trust
related
$6,175,000 · Washington Mutual Fsb
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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