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Financial
Distress signals
Property profile

1640 Bay Rd East Palo Alto, CA 94303

OFF-MARKET
Apartment buildings
Property ID
US10-3015834
20,858 SF 0.66 ac lot Built 1961
Last sale Nov 2004 · $3,000,000
Individually Owned Owner of record is an individual. 21-yr Hold Held for 21 years. ~ Est. High Equity Modeled equity is high. Estimate, not a fact.
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Property summary

AI-generated overview

This exceptional 71-unit apartment building in East Palo Alto, CA, presents a compelling investment opportunity. Priced at $21,500,000, this fee-simple property boasts a 3.34% cap rate and a strong NOI of $719,052 (pro-forma NOI of $750,330). The 29,185 square foot complex, built in 1964, sits on a 0.67-acre lot (APN: 063-221-070) and features a mix of 56 one-bedroom/one-bath units and 15 studio apartments. All units are currently 100% occupied. Amenities include on-site laundry, 24-hour…

Ownership intelligence

Who controls the opportunity?

Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. Included with a plan.

Owner contacts

Can we reach the decision maker?

Skip-traced phones and e-mails of the owner. Included with a plan.

Debts

What is owed, to whom, and when it comes due

Recorded lenders, amounts and estimated maturities of the owner's loan book — included with a plan.

Property tax · 2024

What does the county charge?
$54k
Tax billed · 2024
Assessed value$4.10M
Assessed land$2.60M
Assessed improvement$1.50M
Effective rate1.32%

Value estimate

· Oct 2026
$3.85M
$3.46M – $4.23M
Submarket $/SF estimate$5.32M

Realmo valuation models over county records and 3 qualifying comparable sales.

Recently sold

What actually traded nearby?
$370/SF
County average, outlier-cleaned · 571 recorded sales of this use type
Observed band · Q1–Q3$193 – $618
Qualifying comparables3

Cap rate analysis

How does the asset earn?

No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.

Zoning insight

What can be built here?
R30000
JurisdictionSAN MATEO

Location intelligence

Which uses thrive at this corner?
Best fit: Pawn Shop
Demand heat for this use is drawn on the map · LocInt grid
Demand index
Pawn Shop9.2
Parking Facility8.4
Butcher8.2

Location

1640 Bay Rd East Palo Alto, CA 94303-1663
County assessor Recorded deeds · 5 transfers 3 qualifying comp sales Zoning catalog

Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.

Comparables

6 recorded sales · 10 properties nearby
Recent sales nearby
6 recorded sales in this ZIP, last 8 years
Address Sale price Sold Size
245 Okeefe, East Palo Alto, CA 94303-2170 $14,480,000 Apr 2025 21,526 SF
301 Okeefe, East Palo Alto, CA 94303-2174 $14,480,000 Apr 2025 17,879 SF
2033 Manhattan, East Palo Alto, CA 94303-2259 $2,553,032 Jul 2023 14,912 SF
220 Okeefe, East Palo Alto, CA 94303-2167 $5,496,500 May 2020 20,800 SF
1760 Bay, East Palo Alto, CA 94303-1664 $8,450,000 May 2020 19,378 SF
2341 Cooley, Palo Alto, CA 94303 $4,080,000 Nov 2019 12,148 SF
Sale prices and dates as our records hold them, one row per building. A deed can cover more of a building than the size shown, so read the price against the size rather than dividing one by the other.
Comparable nearby
6 properties of the same type nearby
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