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Property profile & analytics
OFF-MARKET
Estimated value
$4,300,000
Apartment buildings
918 Main St 24 Ramona, CA 92065-1934
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-8060915
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Total area
3,080 SF
Lot
0.17 ac (7,357 SF)
Zoning code
COMMERCIAL
APN
281-281-17-00
UPID
US09-8060915
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
$4.30M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.30M
Owner & transaction history
Narmak Holdings LLC · 2 yrs held
Narmak Holdings LLC
since 2024
Last sale
$4.3M
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Ramona, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$5.1M
+421.9%
Neighborhood: shopping center
$2.8M
+186.2%
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 Ramona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ramona 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
$4,300,000
ML approach
$4,300,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$5,060,000
Change: +422% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,775,000
Change: +186% · Conversion: Difficult
Blend value · Realmo final
$4.30M
Range $3.87M – $4.73M · ±10% · vs last sale $4.30M (Jul 17 2024)
Last sale anchor
$4.30M
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
$1,396 / 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
$18,769
Tax year 2024
Assessed value
$803,532
Assessed 2024
Previous assessed
$803,532
+0.0% YoY
Effective rate
2.34%
On assessed value
Assessed land
$156,171
Assessed improvement
$647,361
Applied tax rate
65.0000
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
1950
Heating
NONE
Units
8
Bathrooms
8
Total area
3,080 SF
Lot
0.17 ac (7,357 SF)
Zoning code
COMMERCIAL
APN
281-281-17-00
UPID
US09-8060915
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Ramona, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · Ramona, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ramona. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
COMMERCIAL (GENERAL)
Est. value
$5.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.8M
COMMERCIAL (GENERAL)
NEIGHBORHOOD: SHOPPING CENTER
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
1950
Heating
NONE
Units
8
Bathrooms
8
Lot
0.17 ac
Current owner
From public records · entity-resolved
Narmak Holdings LLC
Entity
Mailing address
7514 GIRARD AVE #1604, LA JOLLA, CA 92037-5149
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2024
$4,300,000
Narmak Holdings LLC
Horn Residential Properties LLC
Grant Deed
$2,555,000 · Pinnacle Bank
May 25, 2018
$2,350,000
Horn Residl Prop LLC
Canlas,lordita
Trustees Deed
$1,350,000 · Wfb NA
Mar 3, 2017
—
Lordita Canlas
—
Deed
related
$100,000 · Community Of Christ
May 24, 2016
—
Lordita Canlas
—
Deed
related
$1,200,000 · Home Bk/ca
Nov 8, 2013
$1,325,500
Lorditae Canlas
Legacy One LLC
Grant Deed
—
Nov 8, 2013
—
Lordita Canlas
Nowacki,erik
Quit Claim Deed
related
$983,250 · Legacy One LLC
Dec 23, 2008
—
One Legacy
Shumate Robert W & A J
Grant Deed
—
—
—
Robert W Shumate
—
Deed Of Trust
related
$80,805 · Security Pacific National Bank
—
—
Lordita Canlas
—
Deed Of Trust
related
$1,200,000 · Home Bk/ca
—
—
Shumate Trust
—
Deed Of Trust
related
$400,000 · Mission Hills Mortgage
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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