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Property profile & analytics
OFF-MARKET
Estimated value
$1,250,000
Apartment buildings
1650 3rd St Concord, CA 94519-2602
Individually Owned
1-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-6316093
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Total area
3,212 SF
Lot
0.23 ac (10,120 SF)
Zoning code
AP
APN
113-263-009-4
UPID
US09-6316093
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
$1.25M
CAP Approach
CAP
$785k
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.25M
Owner & transaction history
Ray Cheng · 1 yrs held
Ray Cheng
since 2024
Last sale
$1.3M
5 recorded transactions
Zoning & alternative use
AP · Concord, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Medical building
$1.2M
+24.0%
Commercial (general)
$1.1M
+18.8%
Office building
$1.1M
+13.9%
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 Concord submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Concord 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
$1,250,000
ML approach
$1,250,000
CAP Approach
CAP Return
Estimation
6%
$850,000
6.5%
$785,000
7%
$730,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$940,000
Current use
MEDICAL BUILDING
$1,165,000
Change: +24% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,120,000
Change: +19% · Conversion: Moderate
OFFICE BUILDING
$1,070,000
Change: +14% · Conversion: Moderate
AUTO REPAIR, GARAGE
$850,000
Change: -9% · Conversion: Difficult
RETAIL STORES
$785,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$1.25M
Range $1.13M – $1.38M · ±10% · vs last sale $1.25M (Sep 5 2024)
Last sale anchor
$1.25M
Sep 5 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
$389 / 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
$6,583
Tax year 2024
Assessed value
$120,104
Assessed 2024
Previous assessed
$120,104
+0.0% YoY
Effective rate
5.48%
On assessed value
Assessed land
$36,011
Assessed improvement
$84,093
Applied tax rate
2.0000
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
1950
Heating
NONE
Buildings
4
Stories
1
Units
6
Rooms
6
Total area
3,212 SF
Lot
0.23 ac (10,120 SF)
Zoning code
AP
APN
113-263-009-4
UPID
US09-6316093
Jurisdiction
CONTRA COSTA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
AP · Concord, CA
Zoning AP · permitted uses
AP · Concord, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Concord. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$940,000
MEDICAL BUILDING
Est. value
$1.2M
COMMERCIAL (GENERAL)
Est. value
$1.1M
OFFICE BUILDING
Est. value
$1.1M
AUTO REPAIR, GARAGE
Est. value
$850,000
RETAIL STORES
Est. value
$785,000
APARTMENT HOUSE (5+ UNITS) Current
MEDICAL BUILDING
COMMERCIAL (GENERAL)
OFFICE BUILDING
AUTO REPAIR, GARAGE
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
1950
Heating
NONE
Stories
1
Buildings
4
Units
6
Rooms
6
Lot
0.23 ac
Current owner
From public records · entity-resolved
Ray Cheng
Individual
Free & Clear · 1 yrs held
Mailing address
346 N NEWCASTLE LN STE C, DANVILLE, CA 94506-6243
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
Sep 5, 2024
$1,250,000
Ray Cheng
Kevin Singer
Grant Deed
—
Jan 11, 2016
—
William Kubasek
Kubasek Trust
Quit Claim Deed
related
—
Apr 10, 2000
—
Kubasek Trust
Kubasek Trust
Quit Claim Deed
related
—
Nov 25, 1987
—
Owner Name Unavailable
—
Grant Deed
related
—
Jun 10, 1957
—
—
—
Grant Deed
related
—
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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