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    7424 Pacific Ave Lemon Grove, CA 91945-2352
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    Property profile & analytics

    7424 Pacific Ave, Lemon Grove, CA 91945-2352

    View on Map
    • Apartment buildings
    • 4,114 SF
    • 0.19 lot acres
    Off-Market
    Property ID
    US09-7190521
    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.
    Value Estimations
    $715,000
    Show details
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Apartment buildings

    Property Details for 7424 Pacific Ave

    Year built
    1980
    Lot size
    0.19 lot acres
    Zone code
    R-3:RESTRICTED MULTIPLE
    Property type
    Apartment buildings
    APN
    480-084-18-00
    APU
    4800841800

    Sales History

    Date Price Buyer Seller Deed Type Mortgage
    Dec 30, 2005 $730,000 Mark R Russo David Chang Hyok Lee Grant Deed $475k · Luther Burbank Savings
    Oct 30, 2003 $590,000 David C Lee Wallis,tr Grant Deed —
    Aug 2, 1994 $265,000 Larry J Wallis Santos,bautista Grant Deed —
    Mar 29, 1989 $270,000 Santos Bautista Silvia Joseph N Grant Deed $170k · Great Western Bank

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      WAREHOUSE, STORAGE
      $1,165,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Lemon Grove
    County
    San Diego
    State
    California
    Longitude
    -117.038
    Latitude
    32.7419
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, 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
    2024
    $11,678
    $315,621
    $378,747
    $694,368
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $1,930,000
      10,659 SF

      8465 Broadway

      APARTMENT HOUSE (5+ UNITS)
      8465 Broadway, Lemon Grove, CA 91945-2010
      View Details
    • Value Estimation
      $41,920,000
      89,332 SF

      100 Citronica Ln

      APARTMENT HOUSE (5+ UNITS)
      100 Citronica Ln, Lemon Grove, CA 91945-1531
      View Details
    • Value Estimation
      $985,000
      5,841 SF

      7130 Central Ave, Unit 34

      APARTMENT HOUSE (5+ UNITS)
      7130 Central Ave, Lemon Grove, CA 91945-2114
      View Details
    • Value Estimation
      $2,945,000
      13,175 SF

      8058 Golden Ave, Unit 88

      APARTMENT HOUSE (5+ UNITS)
      8058 Golden Ave, Lemon Grove, CA 91945-2586
      View Details
    • Value Estimation by Request
      1.21 Acres

      7302 Goodman Ln, Unit 4

      APARTMENT HOUSE (5+ UNITS)
      7302 Goodman Ln, Lemon Grove, CA 91945-2730
      View Details
    • Value Estimation by Request
      0.60 Acres

      Washington St

      APARTMENT HOUSE (5+ UNITS)
      Washington St, Lemon Grove, CA 91945
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,659 SF

      Turnkey Lemon Grove Apartment Building

      Newer construction 16-unit apartment building in Lemon Grove, California.
      8465 Broadway, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      1,984 SF

      Lemon Grove Duplex with Income

      Two homes on a large lot with income potential.
      2315 Berry St, Lemon Grove, CA 91945
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    • $1,200,000

      Lemon Grove Multifamily Investment Opportunity

      Four units with value-add potential in a walkable neighborhood.
      7902 Lester Ave, Lemon Grove, CA 91945
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Lemon Grove Industrial Space Available

      Industrial space available for lease in Lemon Grove, California.
      3475 Lemon Grove Ave, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      11,637 SF

      Retail Space for Lease

      Retail space available for lease in Lemon Grove, CA.
      3205 Lemon Grove Ave, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      1,002 SF

      Retail Space in Lemon Grove

      Retail spaces available in a high-traffic, mixed-use property.
      8016-8028 Broadway Ln, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      18,036 SF

      Lemon Grove Retail Space Available

      Retail space available for rent in Lemon Grove, CA.
      3275 Lemon Grove Ave, Lemon Grove, CA 91945
      View Details
    • Contact for pricing
      2,400 SF

      Lemon Grove Retail Space Available

      Retail space for rent in Lemon Grove, California.
      8075 Broadway, Lemon Grove, CA 91945
      View Details
    • Contact for pricing

      Lemon Grove Specialty Property

      Single tenant, special purpose property available for lease.
      2770 Glebe Rd, Lemon Grove, CA 91945
      View Details
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    Lemon Grove, CA 91945-2352
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    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
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