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Property profile & analytics
OFF-MARKET
Estimated value
$24,965,000
Apartment buildings
777 Covina Blvd Covina, CA 91722-1357
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-7509775
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD
Total area
106,660 SF
Lot
3.75 ac (163,216 SF)
Zoning code
CVR3-RD150
APN
8408-021-011
UPID
US09-7509775
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
-
Las Palmas Apartments Apartment Building
-
Andrea's photo booth Photography Service Party Supply Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$26.41M
Comparable Approach
Comparable
$33.95M
Blend (final)
Blend
$24.97M
Owner & transaction history
Las Palmas Covina LP · 7 yrs held
Las Palmas Covina LP
since 2018
7 recorded transactions
Zoning & alternative use
CVR3-RD150 · Covina, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$33.3M
+20.1%
Commercial (general)
$33.0M
+18.8%
Warehouse, storage
$31.3M
+13.0%
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 Covina submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Covina 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%
$28,605,000
6.5%
$26,405,000
7%
$24,520,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$27,735,000
Current use
OFFICE BUILDING
$33,315,000
Change: +20% · Conversion: Moderate
COMMERCIAL (GENERAL)
$32,955,000
Change: +19% · Conversion: Moderate
WAREHOUSE, STORAGE
$31,340,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$24.97M
Range $22.47M – $27.46M · ±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
$234 / 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
$330,784
Tax year 2024
Assessed value
$25,085,362
Assessed 2024
Previous assessed
$25,085,362
+0.0% YoY
Effective rate
1.32%
On assessed value
Assessed land
$10,389,636
Assessed improvement
$14,695,726
Applied tax rate
3.0000
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
1963
Construction
WOOD
Heating
NONE
Units
102
Total area
106,660 SF
Lot
3.75 ac (163,216 SF)
Zoning code
CVR3-RD150
APN
8408-021-011
UPID
US09-7509775
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
CVR3-RD150 · Covina, CA
Zoning CVR3-RD150 · permitted uses
CVR3-RD150 · Covina, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Covina. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$27.7M
OFFICE BUILDING
Est. value
$33.3M
COMMERCIAL (GENERAL)
Est. value
$33.0M
WAREHOUSE, STORAGE
Est. value
$31.3M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
1963
Construction
WOOD
Heating
NONE
Units
102
Lot
3.75 ac
Current owner
From public records · entity-resolved
Las Palmas Covina LP
Entity
Free & Clear · 7 yrs held
Mailing address
5150 OVERLAND AVE, CULVER CITY, CA 90230-4914
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2018
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 6, 2018
—
Las Palmas Covina LP
—
Trustees Deed
related
$12,280,000 · Miscellaneous Ins Co
Aug 30, 2018
—
Las Palmas Covina LP
Salt Lk Indl Bldg LLC
Quit Claim Deed
—
Apr 29, 2016
$19,168,000
Salt Lake Industrial Building
Dcp Los Palmas Apartments LLC
Grant Deed
—
Jun 1, 2006
—
Dcp Las Palmas Apartments LLC
Plaza 6000 Partners
Grant Deed
$10,628,000 · Wachovia Multifamily Capital INC
Dec 1, 2003
—
6000 Partners Plaza
Orange Covina Apartments LLC
Grant Deed
$10,300,000 · China Trust Bank USA
Sep 29, 2000
$7,850,000
Orange Covina Apts LLC
La Recovery 94 Equity Fund LP
Grant Deed
$7,391,000 · Heller Financial
Feb 1, 1995
$2,414,409
L A Recovery 94 Equity Fund
—
Grant Deed
related
—
Jul 13, 1993
—
Ferguson Group INC
Sheraton Plaza A
Quit Claim Deed
related
—
—
—
Orange Covina Apartments LLC
—
Deed Of Trust
related
$7,391,000 · Heller Financial
—
—
La Recovery 94 Equity Fund LP
—
Deed Of Trust
related
$4,200,000 · Hawthorne Savings Bank Fsb
—
—
L A Recovery 94 Equity LP
—
Deed Of Trust
related
$252,082 · Robert Stevens Investments
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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