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Property profile & analytics
OFF-MARKET
Estimated value
$2,505,000
Apartment buildings
2119 Central Ave Alameda, CA 94501-2821
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-6934600
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1960
Construction
WOOD
Total area
5,952 SF
Lot
0.24 ac (10,300 SF)
APN
71-235-18
UPID
US09-6934600
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
$2.76M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.40M
Blend (final)
Blend
$2.51M
Owner & transaction history
Chu Finnet LLC · 1 yrs held
Chu Finnet LLC
since 2025
Last sale
$2.5M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$3.0M
+67.3%
Neighborhood: shopping center
$2.5M
+41.2%
Medical building
$2.4M
+31.4%
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 Alameda submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Alameda 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
$2,615,000
ML approach
$2,760,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$1,790,000
Current use
RESTAURANT
$2,995,000
Change: +67% · Conversion: Difficult
NEIGHBORHOOD: SHOPPING CENTER
$2,530,000
Change: +41% · Conversion: Difficult
MEDICAL BUILDING
$2,355,000
Change: +31% · Conversion: Moderate
AUTO REPAIR, GARAGE
$1,915,000
Change: +7% · Conversion: Difficult
RETAIL STORES
$1,690,000
Change: -6% · Conversion: Difficult
OFFICE BUILDING
$1,620,000
Change: -9% · Conversion: Moderate
COMMERCIAL (GENERAL)
$1,610,000
Change: -10% · Conversion: Moderate
Blend value · Realmo final
$2.51M
Range $2.25M – $2.76M · ±10% · vs last sale $2.50M (Feb 23 2025)
Last sale anchor
$2.50M
Feb 23 2025
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
$421 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$42,839
Tax year 2023
Assessed value
$2,942,089
Assessed 2024
Previous assessed
$2,884,410
+2.0% YoY
Effective rate
1.46%
On assessed value
Assessed land
$857,752
Assessed improvement
$2,084,337
Applied tax rate
21.0000
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
1960
Construction
WOOD
Heating
NONE
Buildings
1
Stories
2
Units
10
Rooms
30
Bathrooms
10
Total area
5,952 SF
Lot
0.24 ac (10,300 SF)
APN
71-235-18
UPID
US09-6934600
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, 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
$1.8M
RESTAURANT
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.5M
MEDICAL BUILDING
Est. value
$2.4M
AUTO REPAIR, GARAGE
Est. value
$1.9M
RETAIL STORES
Est. value
$1.7M
OFFICE BUILDING
Est. value
$1.6M
COMMERCIAL (GENERAL)
Est. value
$1.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
NEIGHBORHOOD: SHOPPING CENTER
MEDICAL BUILDING
AUTO REPAIR, GARAGE
RETAIL STORES
OFFICE BUILDING
COMMERCIAL (GENERAL)
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
1960
Construction
WOOD
Heating
NONE
Stories
2
Buildings
1
Units
10
Rooms
30
Bathrooms
10
Lot
0.24 ac
Current owner
From public records · entity-resolved
Chu Finnet LLC
Entity
Mailing address
1415 GRAND AVE, PIEDMONT, CA 94610-1021
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 23, 2025
$2,500,000
Chu Finnet LLC
William Y Geong
Grant Deed
$1,250,000 · East West Bank
Apr 28, 2020
$2,750,000
William Y Geong
Mark N Galetto
Grant Deed
$1,787,500 · Metropolitan Bank
Nov 20, 2019
—
Galetto,m & A M 2013 Trust
Mario N Galetto
Affidavit Of Death
related
—
Jul 26, 2016
—
Mario Galetto
—
Deed
related
$955,000 · Us Bank NA
Jul 1, 2013
—
Galetto,m & A M 2013 Trust
Galetto,mario & Albina M
Quit Claim Deed
related
—
Dec 14, 2007
$1,590,000
Mario Galletto
Carlen Properties
Grant Deed
$1,115,000 · Sterling Savings Bank
Oct 4, 2005
$1,160,000
Carlen Properties
Carlen R P 1996 Trust
Grant Deed
—
Jun 27, 1996
—
Carlen Trust
Carlen,richard
Quit Claim 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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