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Property profile & analytics
OFF-MARKET
Estimated value
$2,650,000
Apartment buildings
1022 4th Ave San Mateo, CA 94401-3341
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2540889
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Total area
4,146 SF
Lot
0.13 ac (5,646 SF)
Zoning code
R40000
APN
033-137-090
UPID
US09-2540889
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
-
San Mateo Apartments Apartment Complex
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.65M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.65M
Owner & transaction history
Fourth Circle LLC · 2 yrs held
Fourth Circle LLC
since 2024
Last sale
$2.7M
5 recorded transactions
Zoning & alternative use
R40000 · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.7M
+92.8%
Neighborhood: shopping center
$2.2M
+59.6%
Retail stores
$2.0M
+43.3%
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 San Mateo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Mateo 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
$2,650,000
ML approach
$2,650,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,705,000
Change: +93% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,235,000
Change: +60% · Conversion: Difficult
RETAIL STORES
$2,010,000
Change: +43% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,915,000
Change: +37% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,885,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$2.65M
Range $2.39M – $2.92M · ±10% · vs last sale $2.65M (Jul 15 2024)
Last sale anchor
$2.65M
Jul 15 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
$639 / 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
$12,916
Tax year 2024
Assessed value
$606,751
Assessed 2024
Previous assessed
$606,751
+0.0% YoY
Effective rate
2.13%
On assessed value
Assessed land
$182,019
Assessed improvement
$424,732
Applied tax rate
12.0000
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
1960
Heating
NONE
Stories
2
Units
8
Rooms
14
Bathrooms
7
Total area
4,146 SF
Lot
0.13 ac (5,646 SF)
Zoning code
R40000
APN
033-137-090
UPID
US09-2540889
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R40000 · San Mateo, CA
Zoning R40000 · permitted uses
R40000 · San Mateo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Mateo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$2.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.2M
RETAIL STORES
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.9M
AUTO REPAIR, GARAGE
Est. value
$1.9M
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
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
1960
Heating
NONE
Stories
2
Units
8
Rooms
14
Bathrooms
7
Lot
0.13 ac
Current owner
From public records · entity-resolved
Fourth Circle LLC
Entity
Mailing address
855 RUNNYMEDE ST STE #100, EAST PALO ALTO, CA 94303-1735
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 15, 2024
$2,650,000
Fourth Circle LLC
Steven B Mahl
Grant Deed
$1,969,982 · Steven B Mahl Living Trust
Sep 29, 2021
—
Steven B Mahi
Steven B Mahi
Intrafamily Transfer
related
—
Oct 31, 1996
$380,000
Steven B Mahl
John A Buchman Trustee
Grant Deed
$342,000 · Seller
Jan 14, 1988
$352,000
John Buchman
Galar
Grant Deed
—
—
—
Steven Mahl
—
Deed Of Trust
related
$494,500 · Provident Cu
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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