Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$6,450,000
Apartment buildings
1550 Cowper St Palo Alto, CA 94301-3617
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1899049
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1932
Construction
WOOD
Total area
5,202 SF
Lot
0.34 ac (15,000 SF)
Zoning code
R1929
APN
124-07-038
UPID
US09-1899049
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
$6.50M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.93M
Blend (final)
Blend
$6.45M
Owner & transaction history
Kenneth Paige · 3 yrs held
Kenneth Paige
since 2023
Last sale
$6.5M
6 recorded transactions
Zoning & alternative use
R1929 · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.2M
+129.5%
Neighborhood: shopping center
$5.3M
+97.4%
Retail stores
$5.2M
+92.7%
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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$6,295,000
ML approach
$6,500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,215,000
Change: +129% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$5,345,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$5,220,000
Change: +93% · Conversion: Difficult
Blend value · Realmo final
$6.45M
Range $5.81M – $7.10M · ±10% · vs last sale $6.50M (May 15 2023)
Last sale anchor
$6.50M
May 15 2023
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
$1,240 / 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
$78,995
Tax year 2024
Assessed value
$6,630,000
Assessed 2024
Previous assessed
$6,630,000
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$6,120,000
Assessed improvement
$510,000
Applied tax rate
6.0000
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
1932
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
5
Total area
5,202 SF
Lot
0.34 ac (15,000 SF)
Zoning code
R1929
APN
124-07-038
UPID
US09-1899049
Jurisdiction
SANTA CLARA
Zoning & alternative use
R1929 · Palo Alto, CA
Zoning R1929 · permitted uses
R1929 · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING
Est. value
$6.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.3M
RETAIL STORES
Est. value
$5.2M
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1932
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
5
Lot
0.34 ac
Current owner
From public records · entity-resolved
Kenneth Paige
Individual
Mailing address
16 CRICKET HL RD, LAFAYETTE, CA 94549-2402
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 15, 2023
$6,500,000
Kenneth Paige
Paul Philip Morrell
Grant Deed
$2,300,000 · Bank Of America NA
Apr 18, 2003
—
Lenore K Morrell
Morrell,tr
Quit Claim Deed
related
$435,000 · Washington Mutual Fsb
Nov 2, 1998
—
Morrell Trust
Morrell,lenore K
Quit Claim Deed
related
—
Aug 14, 1998
—
Lenore K Morrell
Morrell Trust
Quit Claim Deed
related
$348,000 · First Nationwide Mortgage Corp
Jul 12, 1996
—
Morrell Trust
Morrell,lenore K
Quit Claim Deed
related
—
—
—
Lenore K Morrell
—
Deed Of Trust
related
$100,000 · Bank Of America
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 1550 Cowper St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
