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Property profile & analytics
OFF-MARKET
Estimated value
$565,000
Apartment buildings
885 Mulberry Ave, Porterville, CA 93257-1542
Entity Owned
7-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-5990176
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1900
Construction
WOOD
Total area
4,642 SF
Lot
1.37 ac (59,894 SF)
APN
246-112-005-000
UPID
US09-5990176
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
$350k
CAP Approach
CAP
$595k
Comparable Approach
Comparable
$367k
Blend (final)
Blend
$565k
Owner & transaction history
Essence Holdings Family LP · 7 yrs held
Essence Holdings Family LP
since 2019
4 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$935,000
+48.4%
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 Porterville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Porterville 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
$350,000
CAP Approach
CAP Return
Estimation
6%
$640,000
6.5%
$595,000
7%
$550,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$630,000
Current use
MEDICAL BUILDING
$935,000
Change: +48% · Conversion: Moderate
OFFICE BUILDING
$595,000
Change: -6% · Conversion: Moderate
AUTO REPAIR, GARAGE
$540,000
Change: -14% · Conversion: Difficult
RETAIL STORES
$515,000
Change: -19% · Conversion: Difficult
Blend value · Realmo final
$565k
Range $509k – $622k · ±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
$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
$7,369
Tax year 2024
Assessed value
$680,245
Assessed 2024
Previous assessed
$680,245
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$229,664
Assessed improvement
$450,581
Applied tax rate
4.0000
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
1900
Construction
WOOD
Heating
YES
Cooling
AC.PACKAGE
Stories
2
Units
7
Bathrooms
8
Total area
4,642 SF
Lot
1.37 ac (59,894 SF)
APN
246-112-005-000
UPID
US09-5990176
Jurisdiction
TULARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$630,000
MEDICAL BUILDING
Est. value
$935,000
OFFICE BUILDING
Est. value
$595,000
AUTO REPAIR, GARAGE
Est. value
$540,000
RETAIL STORES
Est. value
$515,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
OFFICE BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
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
1900
Construction
WOOD
Heating
YES
Cooling
Yes
Stories
2
Units
7
Bathrooms
8
Lot
1.37 ac
Current owner
From public records · entity-resolved
Essence Holdings Family LP
Entity
Mailing address
31760 CHELSEA RD, VISALIA, CA 93292-9323
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
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
May 5, 2025
—
Essence Holdings Family LP
—
Deed
related
$315,000 · Valley Strong Cu
Feb 20, 2019
$1,012,500
Essence Holdings Family LP
Jerry L Clark JR
Grant Deed
$708,750 · Suncrest Bank
May 11, 2016
—
Clark,jerry L JR & R A Trust
Clark,jerry L JR & Rebecca A
Quit Claim Deed
related
—
—
—
Jerry L Clark JR.
—
Deed Of Trust
related
$565,000 · Fidelity Bancorp Funding INC
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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