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Property profile & analytics
OFF-MARKET
Estimated value
$2,655,000
Apartment buildings
200 Millwood Dr Millbrae, CA 94030-1300
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2215687
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1955
Total area
3,956 SF
Lot
0.13 ac (5,485 SF)
APN
021-274-050
UPID
US09-2215687
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
$2.73M
CAP Approach
CAP
$1.66M
Comparable Approach
Comparable
$1.75M
Blend (final)
Blend
$2.66M
Owner & transaction history
Leeken 4 LLC · 5 yrs held
Leeken 4 LLC
since 2020
Last sale
$2.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$2.5M
+93.8%
Neighborhood: shopping center
$2.1M
+63.1%
Retail stores
$2.0M
+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
$2,625,000
ML approach
$2,725,000
CAP Approach
CAP Return
Estimation
6%
$1,795,000
6.5%
$1,655,000
7%
$1,540,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$2,540,000
Change: +94% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$2,135,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$2,010,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$1,830,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,795,000
Change: +37% · Conversion: Difficult
Blend value · Realmo final
$2.66M
Range $2.39M – $2.92M · ±10% · vs last sale $2.63M (Sep 28 2020)
Last sale anchor
$2.63M
Sep 28 2020
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
$671 / 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
$39,597
Tax year 2024
Assessed value
$2,790,976
Assessed 2024
Previous assessed
$2,790,976
+0.0% YoY
Effective rate
1.42%
On assessed value
Assessed land
$1,273,449
Assessed improvement
$1,517,527
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
1955
Heating
NONE
Stories
2
Units
6
Rooms
16
Bathrooms
6
Total area
3,956 SF
Lot
0.13 ac (5,485 SF)
APN
021-274-050
UPID
US09-2215687
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
OFFICE BUILDING
Est. value
$2.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
RETAIL STORES
Est. value
$2.0M
COMMERCIAL (GENERAL)
Est. value
$1.8M
AUTO REPAIR, GARAGE
Est. value
$1.8M
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1955
Heating
NONE
Stories
2
Units
6
Rooms
16
Bathrooms
6
Lot
0.13 ac
Current owner
From public records · entity-resolved
Leeken 4 LLC
Entity
Mailing address
151 NEW PL RD, HILLSBOROUGH, CA 94010-6447
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 28, 2020
$2,630,000
Leeken 4 LLC
Stalcar L & M 2001 Trust
Grant Deed
—
Oct 14, 2016
—
Louis Stalcar
—
Deed
related
$1,500,000 · Pacific Western National Bank
Feb 23, 2016
$2,700,000
Stalcar,louis & M 2001 Trust
Nassi,zulema A V
Grant Deed
$1,250,000 · William R & Sharon S Archer
Feb 23, 2016
—
Zulema A V Nassi
Valentine Trust A
Quit Claim Deed
related
—
May 26, 2010
—
Zulema A V Nassi
Valentine,zulema
Affidavit Of Death
related
—
Mar 1, 2005
—
Valentine Trust A
Valentine Trust
Quit Claim Deed
related
—
Dec 31, 2004
—
Zulema Valentine
Valentine,antonio
Affidavit Of Death
related
—
Apr 10, 2001
—
Anthony P Valentine
Valentine,antonio & Zulema
Quit Claim Deed
related
—
Mar 6, 2001
—
Antonio Valentine
Valentine Trust
Quit Claim Deed
related
—
Dec 28, 2000
—
Antonio Valentine
Valennie Trust
Quit Claim Deed
related
—
Oct 30, 2000
—
Valentine Trust
Valentine Trust
Quit Claim Deed
related
—
Jul 20, 1992
—
Antonio&zulema Valentine Trust
Valentine,anthon
Quit Claim Deed
related
—
—
—
Valentine,tr
—
Deed Of Trust
related
$315,000 · Luther Burbank Savings & Loan
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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