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Property profile & analytics
OFF-MARKET
Estimated value
$61,365,000
Apartment buildings
74401 Hovley E Ln Palm Desert, CA 92260-1702
Entity Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-3224372
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
2003
Construction
WOOD
Total area
302,092 SF
Lot
17.64 ac (768,398 SF)
Zoning code
OS
APN
624-040-020
UPID
US09-3224372
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
Current use
Occupant on record · Public records
-
The Cupcake Speciaist (Online Cupcakery) Bakery Specialty Food Shop
-
Elad Berger Marketing & Advertising (Bike/Boat/Book/etc) Store
-
Liberty Billing, LLC Medical Billing Service
-
Apartment Apartment Building
-
Canterra Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$75.23M
Comparable Approach
Comparable
$38.30M
Blend (final)
Blend
$61.37M
Owner & transaction history
Canterra Apartments LLC · 12 yrs held
Canterra Apartments LLC
since 2014
7 recorded transactions
Zoning & alternative use
OS · Palm Desert, 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 Palm Desert submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palm Desert 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%
$81,495,000
6.5%
$75,230,000
7%
$69,855,000
Blend value · Realmo final
$61.37M
Range $55.23M – $67.50M · ±10%
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
$203 / 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
$711,772
Tax year 2024
Assessed value
$47,357,019
Assessed 2024
Previous assessed
$47,357,019
+0.0% YoY
Effective rate
1.50%
On assessed value
Assessed land
$6,640,053
Assessed improvement
$40,716,966
Applied tax rate
18.0000
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 (100+ UNITS)
Status
Off-Market
Year built
2003
Construction
WOOD
Heating
NONE
Buildings
2
Stories
2
Units
2
Total area
302,092 SF
Lot
17.64 ac (768,398 SF)
Zoning code
OS
APN
624-040-020
UPID
US09-3224372
Jurisdiction
RIVERSIDE
Zoning & alternative use
OS · Palm Desert, CA
Zoning OS · permitted uses
OS · Palm Desert, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palm Desert. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
2003
Construction
WOOD
Heating
NONE
Stories
2
Buildings
2
Units
2
Lot
17.64 ac
Current owner
From public records · entity-resolved
Canterra Apartments LLC
Entity
Mailing address
2939 BRESSO DR, LIVERMORE, CA 94550-6569
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 20, 2020
—
Federal Home Loan Mtg Corp
—
Deed
related
$42,380,000 · Us Bk NA #2020-k107
Nov 1, 2019
—
Canterra Apartments LLC
—
Deed
related
$42,380,000 · Cbre Cap Markets
Jun 29, 2018
—
Canterra Apartments LLC
—
Deed
related
$2,000,000 · Cbre Cap Markets
Apr 17, 2014
—
Canterra Apartments LLC
Canterra I LLC
Quit Claim Deed
$28,762,000 · Deutsche Bank 2010-k30 (ce)
Feb 1, 2013
—
Canterra I LLC
Capri W Canterra LLC
Grant Deed
$28,762,000 · Cbre Capital Markets INC
Apr 30, 2009
—
Capri W Canterra LLC
Wr Xviii LLC
Quit Claim Deed
related
—
Aug 2, 2007
—
Capri W Canterra LLC
Pr Xiv LLC
Quit Claim Deed
$39,235,000 · Capmark Financial INC
Mar 13, 2001
$3,060,000
Pr Xiv LLC
Calminn Associates
Grant Deed
—
Oct 25, 1995
—
Calminn Assoc
Schreier,thomas S Etal
Grant Deed
related
—
Aug 15, 1995
$730,000
Thomas S Schreier
Chaparral/pal Desert Ltd
Grant Deed
—
Jul 1, 1989
$2,448,000
Palm D Chaparral
Cook Hovley Stre
Grant Deed
—
—
—
Pr LLC
—
Deed Of Trust
related
$25,700 · Prudential Insurance Co
—
—
Canterra Apartments LLC
—
Deed Of Trust
related
$42,380,000 · Cbre Cap Markets
—
—
Federal Home Loan Mtg Corp
—
Deed Of Trust
related
$42,380,000 · Us Bk NA #2020-k107
—
—
Canterra Apartments LLC
—
Deed Of Trust
related
$2,000,000 · Cbre Cap Markets
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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