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Property profile & analytics
OFF-MARKET
Estimated value
$2,140,000
Apartment buildings
Grand Ave Pacific Grove, CA 93950
Trust Owned
5-yr Hold
Free & Clear
Property ID
US09-5006539
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1987
Construction
WOOD
Total area
4,199 SF
Lot
0.17 ac (7,560 SF)
APN
006-483-011-000
UPID
US09-5006539
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
$2.19M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.44M
Blend (final)
Blend
$2.14M
Owner & transaction history
Bodington Trust · 5 yrs held
Bodington Trust
since 2021
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$2.3M
+41.0%
Office building
$1.7M
+4.7%
Auto repair, garage
$1.7M
+0.9%
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 Pacific Grove submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Pacific Grove 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
$2,180,000
ML approach
$2,190,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,660,000
Current use
COMMERCIAL (GENERAL)
$2,340,000
Change: +41% · Conversion: Moderate
OFFICE BUILDING
$1,735,000
Change: +5% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,675,000
Change: +1% · Conversion: Difficult
Blend value · Realmo final
$2.14M
Range $1.93M – $2.35M · ±10% · vs last sale $2.10M (Jan 28 2021)
Last sale anchor
$2.10M
Jan 28 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
$510 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$11,814
Tax year 2023
Assessed value
$1,034,092
Assessed 2023
Previous assessed
$1,034,092
+0.0% YoY
Effective rate
1.14%
On assessed value
Assessed land
$517,046
Assessed improvement
$517,046
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
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
1987
Construction
WOOD
Heating
CENTRAL
Stories
2
Units
8
Rooms
39
Bathrooms
8
Total area
4,199 SF
Lot
0.17 ac (7,560 SF)
APN
006-483-011-000
UPID
US09-5006539
Jurisdiction
MONTEREY
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
$1.7M
COMMERCIAL (GENERAL)
Est. value
$2.3M
OFFICE BUILDING
Est. value
$1.7M
AUTO REPAIR, GARAGE
Est. value
$1.7M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1987
Construction
WOOD
Heating
CENTRAL
Stories
2
Units
8
Rooms
39
Bathrooms
8
Lot
0.17 ac
Current owner
From public records · entity-resolved
Bodington Trust
Trust
Free & Clear · 5 yrs held
Mailing address
255 FREDERICK ST, SAN FRANCISCO, CA 94117-4051
Mailing matches property
Yes
Owner-occupied
Yes
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 28, 2021
—
Bodington Trust
Bodington Living Trust
Quit Claim Deed
related
—
Mar 20, 2007
—
Bodington Living Trust
Bodington,jeffrey & Cecile
Quit Claim Deed
related
—
Jan 21, 2000
$2,100,000
Jeffrey Bodington
Cgambo Development Co
Grant Deed
$1,300,000 · Washington Mutual Fsb
Dec 12, 1997
$1,312,500
Cgambo Development Co INC
Pacific Monarch Resorts INC
Grant Deed
$1,312,500 · Home Savings Of America
Nov 27, 1990
—
Monarch Pacific
Pacific Monarch
Quit Claim Deed
related
$1,000,000 · Coast Federal Bank
—
—
Ceambo Development Co INC
—
Deed Of Trust
related
$18,000 · Individual
—
—
Coambo Development Co
—
Deed Of Trust
related
$13,000 · Individual
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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