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Property profile & analytics
OFF-MARKET
Estimated value
$96,840,000
Apartment buildings
9901 Lurline Ave Chatsworth, CA 91311-4602
Entity Owned
4-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-6792179
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Construction
WOOD
Total area
298,782 SF
Lot
8.63 ac (376,103 SF)
Zoning code
LAR3
APN
2741-002-006
UPID
US09-6792179
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
-
The Squeegee Crew LLC General Contractor Renovation Specialist
-
Waterstone Apartment Building Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$73.97M
Comparable Approach
Comparable
$114.02M
Blend (final)
Blend
$96.84M
Owner & transaction history
Waterstone Owner LP · 4 yrs held
Waterstone Owner LP
since 2021
Last sale
$101.8M
7 recorded transactions
Zoning & alternative use
LAR3 · Chatsworth, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$138.2M
+75.3%
Medical building
$135.8M
+72.3%
Retail stores
$114.5M
+45.3%
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 Chatsworth submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Chatsworth 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
$92,730,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$80,125,000
6.5%
$73,965,000
7%
$68,680,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$78,815,000
Current use
AUTO REPAIR, GARAGE
$138,200,000
Change: +75% · Conversion: Difficult
MEDICAL BUILDING
$135,820,000
Change: +72% · Conversion: Moderate
RETAIL STORES
$114,510,000
Change: +45% · Conversion: Difficult
OFFICE BUILDING
$95,505,000
Change: +21% · Conversion: Moderate
COMMERCIAL (GENERAL)
$92,320,000
Change: +17% · Conversion: Moderate
Blend value · Realmo final
$96.84M
Range $87.16M – $106.52M · ±10% · vs last sale $101.75M (Nov 24 2021)
Last sale anchor
$101.75M
Nov 24 2021
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
$324 / 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
$746,981
Tax year 2024
Assessed value
$105,860,700
Assessed 2024
Previous assessed
$105,860,700
+0.0% YoY
Effective rate
0.71%
On assessed value
Assessed land
$21,172,140
Assessed improvement
$84,688,560
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
1971
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Units
348
Bathrooms
48
Total area
298,782 SF
Lot
8.63 ac (376,103 SF)
Zoning code
LAR3
APN
2741-002-006
UPID
US09-6792179
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAR3 · Chatsworth, CA
Zoning LAR3 · permitted uses
LAR3 · Chatsworth, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Chatsworth. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$78.8M
AUTO REPAIR, GARAGE
Est. value
$138.2M
MEDICAL BUILDING
Est. value
$135.8M
RETAIL STORES
Est. value
$114.5M
OFFICE BUILDING
Est. value
$95.5M
COMMERCIAL (GENERAL)
Est. value
$92.3M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
MEDICAL BUILDING
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1971
Construction
WOOD
Heating
NONE
Cooling
Yes
Units
348
Bathrooms
48
Lot
8.63 ac
Current owner
From public records · entity-resolved
Waterstone Owner LP
Entity
Mailing address
680 5TH AVE17THFL, NEW YORK, NY 10019-5429
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 24, 2021
$101,772,727
Waterstone Owner LP
Cvii Waterstone LLC
Grant Deed
$98,155,000 · Nef Preservation Pb Fund I LP
Sep 8, 2017
—
Cvii-waterstone LLC
—
Deed
related
—
Sep 19, 2016
$72,500,000
Cvii-waterstone LLC
Legacy Partners Waterstone LP
Grant Deed
—
Jun 19, 2006
—
Legacy Partners Waterstone LP
Waterstone Inv LLC
Grant Deed
$33,500,000 · Deutsche Bank Berkshire Mortgage INC
May 18, 2006
—
Waterstone Apartment Ptrs
Waterstone Investments LLC
Quit Claim Deed
related
—
May 10, 2006
—
Waterstone Apartment Ptrs
Legacy Partners Residl LLC
Grant Deed
—
Dec 31, 2001
—
Western Nantucket Ptnrs
Nshe,glendale
Grant Deed
related
—
Dec 27, 2001
—
Waterstone Investments LLC
Waterstone At Chatsworth Apt
Quit Claim Deed
related
$21,700 · Shin Nihon Jitsugyo Co
Dec 28, 1989
—
Mitsui/sbd Amer
Sed
Grant Deed
related
—
Dec 5, 1989
—
Sbd Prop
Vineyard Chatswo
Grant Deed
related
—
Sep 15, 1988
$1,000
Cfc75
Web
Quit Claim Deed
related
—
—
—
Vineyard Chatswo
—
Deed Of Trust
related
$20,000,000 · Chemical Bank
—
—
Waterstone Investments LLC
—
Deed Of Trust
related
$2,180,000 · Principal Life Insurance Co
—
—
Cvii-waterstone LLC
—
Deed Of Trust
related
—
—
—
Mitsui Sbd Ameri
—
Deed Of Trust
related
$18,500,000 · Mitsui Manufacturers 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.
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