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Property profile & analytics
OFF-MARKET
Estimated value
$2,860,000
Apartment buildings
200 Chadbourne Ave Millbrae, CA 94030-2513
Individually Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-0047766
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1954
Total area
7,399 SF
Lot
0.14 ac (6,000 SF)
APN
024-283-070
UPID
US09-0047766
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
$2.88M
CAP Approach
CAP
$3.10M
Comparable Approach
Comparable
$3.27M
Blend (final)
Blend
$2.86M
Owner & transaction history
Paul P Lam · 3 yrs held
Paul P Lam
since 2023
Last sale
$2.5M
5 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.7M
+93.8%
Neighborhood: shopping center
$4.0M
+63.1%
Retail stores
$3.8M
+53.7%
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 Millbrae submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millbrae 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
$2,895,000
ML approach
$2,880,000
CAP Approach
CAP Return
Estimation
6%
$3,355,000
6.5%
$3,100,000
7%
$2,875,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,450,000
Current use
OFFICE BUILDING
$4,745,000
Change: +94% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$3,995,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$3,765,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,420,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,360,000
Change: +37% · Conversion: Difficult
WAREHOUSE, STORAGE
$2,830,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$2.86M
Range $2.57M – $3.15M · ±10% · vs last sale $2.51M (Apr 5 2023)
Last sale anchor
$2.51M
Apr 5 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
$387 / 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
$34,658
Tax year 2024
Assessed value
$2,562,240
Assessed 2024
Previous assessed
$2,562,240
+0.0% YoY
Effective rate
1.35%
On assessed value
Assessed land
$1,530,000
Assessed improvement
$1,032,240
Applied tax rate
14.0000
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
1954
Heating
NONE
Stories
3
Units
6
Rooms
22
Bathrooms
6
Total area
7,399 SF
Lot
0.14 ac (6,000 SF)
APN
024-283-070
UPID
US09-0047766
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.5M
OFFICE BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
RETAIL STORES
Est. value
$3.8M
COMMERCIAL (GENERAL)
Est. value
$3.4M
AUTO REPAIR, GARAGE
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$2.8M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
WAREHOUSE, STORAGE
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
1954
Heating
NONE
Stories
3
Units
6
Rooms
22
Bathrooms
6
Lot
0.14 ac
Current owner
From public records · entity-resolved
Paul P Lam
Individual
Free & Clear · 3 yrs held
Mailing address
437 GRN HLS DR, MILLBRAE, CA 94030-1663
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 5, 2023
$2,512,000
Paul P Lam
Michael J Griffin
Grant Deed
—
Aug 22, 2022
—
Michael J Griffin
Michael J Griffin
Intrafamily Transfer
related
—
Apr 29, 2005
$1,700,000
Griffin M J & A G Trust
Johnson T M & S H Trust
Grant Deed
$900,000 · Johnson Thomas M & S H Trust 006329
Oct 27, 1995
—
Thomas M Johnson
Johnson,thomas M
Quit Claim Deed
related
—
Dec 16, 1992
—
Carol A Hallihan Trust
Virginia H Johns
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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