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Property profile & analytics
OFF-MARKET
Estimated value
$4,075,000
Apartment buildings
8008 Magnolia Ave Riverside, CA 92504-3444
Entity Owned
22-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-0743692
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Construction
WOOD
Total area
46,340 SF
Lot
1.59 ac (69,260 SF)
Zoning code
R3
APN
231-111-002
UPID
US09-0743692
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
-
Fairy Godmothers cleaning of California Hardware & Home Improvement
-
Ramona Gardens Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.08M
Owner & transaction history
Kahn-ignat III LLC · 22 yrs held
Kahn-ignat III LLC
since 2003
6 recorded transactions
Zoning & alternative use
R3 · Riverside, 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 Riverside submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Riverside 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$88 / 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
$35,056
Tax year 2024
Assessed value
$3,042,933
Assessed 2024
Previous assessed
$3,042,933
+0.0% YoY
Effective rate
1.15%
On assessed value
Assessed land
$730,805
Assessed improvement
$2,312,128
Applied tax rate
9.0000
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
1972
Construction
WOOD
Heating
NONE
Stories
2
Total area
46,340 SF
Lot
1.59 ac (69,260 SF)
Zoning code
R3
APN
231-111-002
UPID
US09-0743692
Jurisdiction
RIVERSIDE
Zoning & alternative use
R3 · Riverside, CA
Zoning R3 · permitted uses
R3 · Riverside, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Riverside. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1972
Construction
WOOD
Heating
NONE
Stories
2
Lot
1.59 ac
Current owner
From public records · entity-resolved
Kahn-ignat III LLC
Entity
Mailing address
2 VIA DEL TESORO, SAN CLEMENTE, CA 92673-2741
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2003
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 19, 2021
—
Kahn Ignat III LLC
—
Deed
related
$2,000,000 · Jpmorgan Chase Bank NA
Sep 30, 2016
—
Kahn Ignat III LLC
—
Deed
related
$1,700,000 · Jpmorgan Chase Bank NA
Jul 22, 2003
—
Kahn-ignat III LLC
Kahn-ignat III LLC
Quit Claim Deed
related
—
Jan 31, 2000
$2,025,000
Clifford Kahn
88 Liu LP
Grant Deed
$1,518,750 · Financial Inst Partners Mtg
Nov 1, 1994
—
Liu LP 88
Liu,arthur M
Quit Claim Deed
related
—
—
—
Liu Trust
—
Deed Of Trust
related
$1,072,000 · American Savings Bank
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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