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Property profile & analytics
OFF-MARKET
Estimated value
$1,450,000
Apartment buildings
694 Monterey Ave Morro Bay, CA 93442-2232
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1749721
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2003
Construction
WOOD
Total area
2,392 SF
Lot
0.33 ac (14,500 SF)
Zoning code
R4
APN
066-122-014
UPID
US09-1749721
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
$1.45M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.57M
Blend (final)
Blend
$1.45M
Owner & transaction history
Rudy Polak · 1 yrs held
Rudy Polak
since 2024
Last sale
$1.5M
7 recorded transactions
Zoning & alternative use
R4 · Morro Bay, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.7M
+90.2%
Commercial (general)
$1.3M
+41.1%
Auto repair, garage
$1.1M
+23.3%
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 Morro Bay submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Morro Bay 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
$1,450,000
ML approach
$1,450,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$885,000
Current use
OFFICE BUILDING
$1,685,000
Change: +90% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,250,000
Change: +41% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,095,000
Change: +23% · Conversion: Difficult
MEDICAL BUILDING
$985,000
Change: +11% · Conversion: Moderate
Blend value · Realmo final
$1.45M
Range $1.31M – $1.60M · ±10% · vs last sale $1.45M (Sep 19 2024)
Last sale anchor
$1.45M
Sep 19 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
$606 / 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
$18,911
Tax year 2023
Assessed value
$1,742,640
Assessed 2024
Previous assessed
$1,708,472
+2.0% YoY
Effective rate
1.09%
On assessed value
Assessed land
$600,910
Assessed improvement
$1,141,730
Applied tax rate
6.0000
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
2003
Construction
WOOD
Heating
NONE
Buildings
3
Rooms
10
Bathrooms
4
Total area
2,392 SF
Lot
0.33 ac (14,500 SF)
Zoning code
R4
APN
066-122-014
UPID
US09-1749721
Jurisdiction
SAN LUIS OBISPO
Zoning & alternative use
R4 · Morro Bay, CA
Zoning R4 · permitted uses
R4 · Morro Bay, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Morro Bay. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$885,000
OFFICE BUILDING
Est. value
$1.7M
COMMERCIAL (GENERAL)
Est. value
$1.3M
AUTO REPAIR, GARAGE
Est. value
$1.1M
MEDICAL BUILDING
Est. value
$985,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
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
2003
Construction
WOOD
Heating
NONE
Buildings
3
Rooms
10
Bathrooms
4
Lot
0.33 ac
Current owner
From public records · entity-resolved
Rudy Polak
Individual
Free & Clear · 1 yrs held
Mailing address
1101 W MARY AVE, VISALIA, CA 93277-6360
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2024
—
Rudy Polak
Rudy Polak
Intrafamily Transfer
related
—
Apr 3, 2023
—
Rudy Polak
Rudy Polak
Intrafamily Transfer
related
—
Sep 6, 2016
—
Rudy Polak
Moody,laverne
Quit Claim Deed
related
—
Jul 23, 2013
—
Laverne Moody
Polak,rudy
Quit Claim Deed
related
—
Jul 23, 2013
$1,450,000
Laverne Moody
Gregory,jeffrey D & Colleen C
Grant Deed
—
Mar 26, 2007
—
Gregory Colleen Trust
Gregory,colleen
Quit Claim Deed
related
—
Feb 8, 2001
$52,500
Jeffry D Gregory
Gregory,cynthia C
Grant Deed
related
—
Apr 20, 1999
$54,500
Jeffrey D Gregory
Gregory,donald D
Grant Deed
related
$325,000 · Kaweah National Bank
Nov 12, 1997
—
Baker Trust
Baker Trust
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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