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Property profile & analytics
OFF-MARKET
Estimated value
$3,720,000
Apartment buildings
2156 Carlmont Dr, Belmont, CA 94002-3466
Individually Owned
4-yr Hold
~
Est. High Equity
Property ID
US10-2375619
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1958
Total area
8,428 SF
Lot
0.22 ac (9,500 SF)
Zoning code
R40000
APN
045-023-110
UPID
US10-2375619
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
$4.63M
CAP Approach
CAP
$3.53M
Comparable Approach
Comparable
$4.00M
Blend (final)
Blend
$3.72M
Owner & transaction history
Simone Phuoc Nguyen · 4 yrs held
Simone Phuoc Nguyen
since 2021
Last sale
$3.7M
7 recorded transactions
Zoning & alternative use
R40000 · Belmont, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$5.7M
+95.5%
Office building
$5.4M
+85.5%
Neighborhood: shopping center
$4.6M
+56.0%
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 Belmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belmont 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
$4,335,000
ML approach
$4,625,000
CAP Approach
CAP Return
Estimation
6%
$3,825,000
6.5%
$3,530,000
7%
$3,275,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,915,000
Current use
RESTAURANT
$5,700,000
Change: +96% · Conversion: Difficult
OFFICE BUILDING
$5,405,000
Change: +85% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,550,000
Change: +56% · Conversion: Difficult
RETAIL STORES
$4,285,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,895,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,830,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,225,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$3.72M
Range $3.35M – $4.09M · ±10% · vs last sale $3.68M (Oct 7 2021)
Last sale anchor
$3.68M
Oct 7 2021
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
$441 / 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
$51,346
Tax year 2024
Assessed value
$3,823,470
Assessed 2024
Previous assessed
$3,823,470
+0.0% YoY
Effective rate
1.34%
On assessed value
Assessed land
$1,976,760
Assessed improvement
$1,846,710
Applied tax rate
3.0000
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
1958
Heating
NONE
Stories
2
Units
7
Rooms
29
Bathrooms
8
Total area
8,428 SF
Lot
0.22 ac (9,500 SF)
Zoning code
R40000
APN
045-023-110
UPID
US10-2375619
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R40000 · Belmont, CA
Zoning R40000 · permitted uses
R40000 · Belmont, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Belmont. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.9M
RESTAURANT
Est. value
$5.7M
OFFICE BUILDING
Est. value
$5.4M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.6M
RETAIL STORES
Est. value
$4.3M
COMMERCIAL (GENERAL)
Est. value
$3.9M
AUTO REPAIR, GARAGE
Est. value
$3.8M
WAREHOUSE, STORAGE
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
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
1958
Heating
NONE
Stories
2
Units
7
Rooms
29
Bathrooms
8
Lot
0.22 ac
Current owner
From public records · entity-resolved
Simone Phuoc Nguyen
Individual
Mailing address
2156 CARLMONT DR, BELMONT, CA 94002-3466
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
12 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 12, 2022
—
Ab&s LLC
—
Deed
related
$500,000 · Jpmorgan Chase Bank NA
Oct 7, 2021
$3,675,000
Simone Phuoc Nguyen
Thomas J Conley SR.
Grant Deed
—
Jun 21, 2021
—
Owen D Conley
Owen D Conley
Intrafamily Transfer
related
—
Feb 8, 2021
—
Thomas J Conley JR
Thomas J Conley JR
Intrafamily Transfer
related
—
Feb 8, 2019
—
Conley,owen D & Mildred E Trust
Owen D Conley
Affidavit Of Death
related
—
Nov 8, 2018
—
Owen D Conley
—
Deed
related
$1,300,000 · Jpmorgan Chase Bank NA
Oct 7, 2013
—
Conley,owen D & M E Trust
Conley O D & M E Trust
Quit Claim Deed
related
—
Oct 14, 2010
—
Conley,owen D & M E Trust
Conley Owen D & M E Trust
Quit Claim Deed
related
—
Jun 22, 2009
—
Conley,owen D & M E Trust
Cirolero LLC
Grant Deed
—
Nov 25, 2008
—
Hong Family Trust
Jack L Hong
Quit Claim Deed
related
—
Nov 25, 2008
$1,710,000
Cirolero LLC
Jack L Hong
Grant Deed
$950,000 · First Republic Bank
Apr 3, 1992
$804,500
Jack Hong
Dougherty Edward
Grant Deed
$500,000 · Home Savings Of America
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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