Individually Owned
No photos on file
For Sale
Contact for pricing
1617 Sixth Ave, Belmont, CA 94002
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Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Total area
8,346 SF
Lot
0.21 ac (9,000 SF)
Zoning code
R30000
APN
045-255-180
UPID
US09-0697431
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$3.73M
CAP Approach
CAP
$3.50M
Comparable Approach
Comparable
$3.96M
Blend (final)
Blend
$3.72M
Owner & transaction history
since 2022
Last sale
$4.2M
7 recorded transactions
Zoning & alternative use
R30000 · Belmont, CA
Top alternative use upside
Restaurant
$5.6M
+95.5%
Office building
$5.4M
+85.5%
Neighborhood: shopping center
$4.5M
+56.0%
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
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Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
All 5 comparables with addresses
8 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Analytics Standard · 5 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$3.72M
Value range
$3.35M – $4.09M
±10% around blend
Estimated value / SF
$446 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
100
Comparable evidence
50
$3.35M
blend $3.72M
$4.09M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
8,346 SF
Lot area
0.21 ac
Year built
1960
Stories
2
APN
045-255-180
Zoning
R30000
Assessed value
$4,233,000
Annual tax
$54,168
3
Income approach: direct capitalization
Partial preview
Income approach indication
$3.50M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$3.79M
@ 6.5% CAP return
$3.50M
@ 7% CAP return
$3.25M
4
Sales comparison
Partial preview
Sales approach indication
$3.54M
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
3.0 mi away · 10,043 SF
6.3 mi away · 8,607 SF
7.2 mi away · 6,442 SF
7.3 mi away · 8,746 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$3.72M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
ZIP 30 sales
$346
+29%
Submarket 30 sales
$346
+29%
County 571 sales
$370
+21%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $446/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Restaurant
Gross theoretical uplift
+96%
vs current-use indication
Office Building
Neighborhood: Shopping Center
Retail Stores
Commercial (general)
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Not available
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
17% off on annual
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
Market rates by use type
PDF export
Analytics Standard · 5 reports
from $99/month
from $99/month
Overview
Implied cap rate
6.10%
Implied, in-place cap rate for this apartment buildings
Estimated NOI ÷ last recorded sale. Refine with your own numbers in the full report.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 6.10%
9.0%
NOI (est.)
$291k *
Last sale · Aug 2022
$4.15M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$4.76M
Move the market yield to see immediate price impact.
Value / SF
$571
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.60%6.10%6.60%
$261k
$4.67M
$4.29M
$3.96M
$291k
$5.19M
$4.76M
$4.40M
$320k
$5.71M
$5.24M
$4.84M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$3.60M
0.7 mi · Dec 2025 · $390/SF
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$54,168
Tax year 2024
Assessed value
$4,233,000
Assessed 2024
Previous assessed
$4,233,000
+0.0% YoY
Effective rate
1.28%
On assessed value
Assessed land
$2,346,000
Assessed improvement
$1,887,000
Applied tax rate
3.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1960
Heating
NONE
Stories
2
Units
8
Rooms
29
Bathrooms
8
Total area
8,346 SF
Lot
0.21 ac (9,000 SF)
Zoning code
R30000
APN
045-255-180
UPID
US09-0697431
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R30000 · Belmont, CAZoning R30000 · permitted uses
R30000 · Belmont, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1960
Heating
NONE
Stories
2
Units
8
Rooms
29
Bathrooms
8
Lot
0.21 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R30000
Jurisdiction
Belmont, CA
Recorded code
R30000
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R30000 in Belmont, CA.
What opens after registration
Zoning profile
Official documentVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
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Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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