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Property profile & analytics
OFF-MARKET
Estimated value
$6,930,000
Apartment buildings
851 4th St Encinitas, CA 92024-3415
Individually Owned
1-yr Hold
Free & Clear
Property ID
US09-6872908
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Lot
0.12 ac (5,153 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
258-171-10-00
UPID
US09-6872908
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
$6.93M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.93M
Owner & transaction history
Tracy M Patrick III · 1 yrs held
Tracy M Patrick III
since 2024
Last sale
$6.9M
4 recorded transactions
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Encinitas, 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 Encinitas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Encinitas 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
$6,930,000
ML approach
$6,930,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$6.93M
Range $6.24M – $7.62M · ±10% · vs last sale $6.93M (Jul 17 2024)
Last sale anchor
$6.93M
Jul 17 2024
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
—
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
$4,669
Tax year 2024
Assessed value
$309,518
Assessed 2024
Previous assessed
$309,518
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$56,311
Assessed improvement
$253,207
Applied tax rate
19.0000
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
Heating
NONE
Units
5
Lot
0.12 ac (5,153 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
258-171-10-00
UPID
US09-6872908
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Encinitas, CA
Zoning R-4:MULTIPLE RESIDENTIAL · permitted uses
R-4:MULTIPLE RESIDENTIAL · Encinitas, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Encinitas. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Heating
NONE
Units
5
Lot
0.12 ac
Current owner
From public records · entity-resolved
Tracy M Patrick III
Individual
Free & Clear · 1 yrs held
Mailing address
PO BOX 9667, RANCHO SANTA FE, CA 92067-4667
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 8, 2025
—
Krjtp Revocable Trust
—
Deed
related
$2,000,000 · Mission FCU
Jul 17, 2024
$6,930,000
Tracy M Patrick III
Michael A James
Grant Deed
—
Jan 8, 2013
—
Wood James V Trust
Wood,june E
Quit Claim Deed
related
—
—
—
June Wood
—
Deed Of Trust
related
$300,000 · Washington Mutual Fsb
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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