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Property profile & analytics
OFF-MARKET
Estimated value
$6,765,000
Apartment buildings
8201 Merge Ave San Diego, CA 92129-4759
Entity Owned
4-yr Hold
Absentee Owner
Property ID
US09-6939464
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Total area
55,293 SF
Lot
0.73 ac (31,798 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
306-424-31-00
UPID
US09-6939464
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.77M
Owner & transaction history
Lennar Homes Of California LLC · 4 yrs held
Lennar Homes Of California LLC
since 2022
7 recorded transactions
Zoning & alternative use
RESTRICTED COMMERCIAL · San Diego, 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 San Diego submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Diego 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
$122 / 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
$632
Tax year 2024
Assessed value
$8,276,760
Assessed 2024
Previous assessed
$8,276,760
+0.0% YoY
Effective rate
0.01%
On assessed value
Assessed land
$1,976,760
Assessed improvement
$6,300,000
Applied tax rate
8.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
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
Heating
NONE
Units
47
Total area
55,293 SF
Lot
0.73 ac (31,798 SF)
Zoning code
RESTRICTED COMMERCIAL
APN
306-424-31-00
UPID
US09-6939464
Jurisdiction
SAN DIEGO
Zoning & alternative use
RESTRICTED COMMERCIAL · San Diego, CA
Zoning RESTRICTED COMMERCIAL · permitted uses
RESTRICTED COMMERCIAL · San Diego, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Diego. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Units
47
Lot
0.73 ac
Current owner
From public records · entity-resolved
Lennar Homes Of California LLC
Entity
Mailing address
3525 DEL MAR HTS RD #211, SAN DIEGO, CA 92130-2199
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 24, 2023
—
Sea Breeze 56 LLC
—
Deed
related
$4,000,000 · Are Sd Region No 80 LLC
Jul 15, 2022
$2,571,000
Lennar Homes Of California LLC
Ag Essential Housing 2 LP
Grant Deed
—
Jun 15, 2022
$2,203,500
Lennar Homes Of California LLC
Ag Essential Housing Ca 2 LP
Grant Deed
—
Jun 10, 2022
—
Merge 56 Affordable LP
Sea Breeze 56 LLC
Grant Deed
$16,000,000 · Housing Authority Of The City Of Sa
Jun 2, 2022
—
Are Sd Region No 80 Holding LLC
Sea Breeze 56 LLC
Agreement Of Sale
—
May 16, 2022
$2,203,500
Lennar Homes Of California LLC
Ag Essential Housing Ca 2 LP
Grant Deed
—
Mar 15, 2022
$3,305,500
Lennar Homes Of California LLC
Ag Essential Housing Ca 2 LP
Grant Deed
—
Feb 15, 2022
$2,203,500
Lennar Homes Of California LLC
Ag Essential Housing Ca 2 LP
Grant Deed
—
Dec 15, 2021
$3,672,500
Lennar Homes Of California INC
Ag Essential Housing Ca 2 LP
Grant Deed
—
Nov 23, 2021
$2,230,000
Lennar Homes Of California INC
Merge Residential LLC
Grant Deed
—
Nov 23, 2021
—
Merge 56 Townhome Association
Merge Residential LLC
Intrafamily Transfer
related
—
Nov 15, 2021
$2,203,500
Lennar Homes Of California INC
Ag Essential Housing Ca 2 LP
Grant Deed
—
Oct 15, 2021
$5,876,000
Lennar Homes Of California INC
Ag Essential Housing Ca 2 LP
Grant Deed
—
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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