Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    656 Spruce Ave Upland, CA 91786-4477

    • Apartment buildings
    • 11,712 SF
    • 0.46 lot acres
    OFF-MARKET
    Last Sale
    Apr 28, 2022
    $1,200,000
    Value Estimations
    $1,355,000
    Show details
    Cap Rate Potential
    7.6%
    Apartment buildings
    Location Intelligence
    Property ID
    US10-1554184
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Spruce Towers / Apartment Building

    Property Details for 656 Spruce Ave

    Year built
    1964
    Construction
    CONCRETE
    Lot size
    0.46 lot acres
    Property size
    11,712 SF
    Property type
    Apartment buildings
    APN
    1007-192-01-0000
    APU
    1007192010000

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,360,000
      ML approach
      $1,410,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $1,730,000
      6.5%
      $1,595,000
      7%
      $1,480,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Upland
    County
    San Bernardino
    State
    California
    Longitude
    -117.669
    Latitude
    34.1018
    CBSA code
    40140
    CBSA name
    RIVERSIDE-SAN BERNARDINO-ONTARIO, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $17,739
    $585,445
    $1,087,256
    $1,672,701
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $2,100,000
      22,613 SF

      569 11th St

      APARTMENT HOUSE (5+ UNITS) • 22,613 SF
      569 11th St, Upland, CA 91786-4811
      View Details
    • Value Estimation
      $1,785,000
      14,801 SF

      509 Richland St

      APARTMENT HOUSE (5+ UNITS) • 14,801 SF
      509 Richland St, Upland, CA 91786-6769
      View Details
    • Value Estimation
      $2,910,000
      23,350 SF

      450 7th St

      APARTMENT HOUSE (5+ UNITS) • 23,350 SF
      450 7th St, Upland, CA 91786-6705
      View Details
    • Value Estimation
      $520,000
      4,212 SF

      388 Arrow Hwy

      APARTMENT HOUSE (5+ UNITS) • 4,212 SF
      388 Arrow Hwy, Upland, CA 91786-5250
      View Details
    • Value Estimation
      $3,920,000
      43,830 SF

      1256 Arrow Hwy

      APARTMENT HOUSE (5+ UNITS) • 43,830 SF
      1256 Arrow Hwy, Upland, CA 91786-5040
      View Details
    • Value Estimation
      $6,600,000
      75,633 SF

      1205 9th St

      APARTMENT HOUSE (5+ UNITS) • 75,633 SF
      1205 9th St, Upland, CA 91786-8124
      View Details

    Similar Nearby for Sale

    • $610,000

      Spacious Condo with Modern Amenities

      Well-maintained condo featuring 3 bedrooms, 2.5 baths, and resort-style amenities.
      1503 Florence Ct, Upland, CA 91786
      View Details
    • $2,400,000

      Upland Multifamily Development Opportunity

      Development opportunity for multifamily residential community near Upland Metrolink station.
      142 North 6Th Ave, Upland, CA 91786
      View Details
    • $579,900

      Updated Condo in Gated Community

      Turnkey two-bedroom condo with remodeled bathrooms and modern kitchen.
      1531 Corte Caballo, Upland, CA 91786
      View Details
    • $125,000

      Upland Manufactured Home in Park

      3-bedroom, 2-bath manufactured home in Upland Cascade Mobile Home Park.
      1350 San Bernardino 86, Upland, CA 91786
      View Details
    • $185,000

      Spacious Mobile Home in Upland

      3-bedroom, 2-bath mobile home in a gated community.
      929 E Foothill Blvd, Upland, CA 91786
      View Details
    • $589,000
      1,522 SF

      Upland Condo in Gated Community

      Two-bedroom condo in Upland Vistas, close to amenities.
      401 Corte Rojo, Upland, CA 91786
      View Details

    Similar Nearby for Lease

    • $2,400 /Mo

      Modern Furnished ADU for Lease

      Furnished ADU built in 2021, ideal for professionals.
      723 N Quince Ave, Upland, CA 91786
      View Details
    • $22 SF/Yr
      1,470 SF

      Upland Retail Space: 1470 SF

      Prime Upland retail space in fitness center.
      685 Foothill Blvd, Upland, CA 91786
      View Details
    • $16 SF/Yr
      74 SF

      Upland Industrial Space Available

      Flexible spaces, 1625-2228 sq ft
      1525 13Th St, Upland, CA 91786
      View Details
    • $18 SF/Yr
      149,414 SF

      Mountain Grove Office Park: Upland, CA

      Upland Office Space: Prime Location, Ample Amenities
      870 Mountain Ave, Upland, CA 91786
      View Details
    • Contact for pricing

      Industrial Property 100% Leased

      Industrial property in Upland, CA, currently 100% leased.
      1332-1340 W 9Th St, Upland, CA 91786
      View Details
    • $4 SF/Yr
      245 SF

      Office Space For Lease

      Office space available for lease.
      1014-1026 W Foothill Blvd, Upland, CA 91786
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    656 Spruce Ave
    Upland, CA 91786-4477
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.