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Property profile & analytics
OFF-MARKET
Estimated value
$6,435,000
Apartment buildings
22 20th Ave San Mateo, CA 94403-1351
Individually Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2356350
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1972
Total area
13,862 SF
Lot
0.34 ac (14,609 SF)
APN
035-235-090
UPID
US09-2356350
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
$7.28M
CAP Approach
CAP
$4.82M
Comparable Approach
Comparable
$6.35M
Blend (final)
Blend
$6.44M
Owner & transaction history
Richard O Jones · 2 yrs held
Richard O Jones
since 2023
Last sale
$6.4M
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$9.4M
+118.1%
Office building
$9.0M
+110.3%
Neighborhood: shopping center
$7.5M
+74.1%
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 San Mateo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Mateo 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
$7,370,000
ML approach
$7,275,000
CAP Approach
CAP Return
Estimation
6%
$5,215,000
6.5%
$4,815,000
7%
$4,470,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$4,300,000
Current use
RESTAURANT
$9,375,000
Change: +118% · Conversion: Difficult
OFFICE BUILDING
$9,040,000
Change: +110% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$7,480,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$6,720,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$6,405,000
Change: +49% · Conversion: Moderate
AUTO REPAIR, GARAGE
$6,295,000
Change: +47% · Conversion: Difficult
WAREHOUSE, STORAGE
$5,305,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$6.44M
Range $5.79M – $7.08M · ±10% · vs last sale $6.40M (Sep 19 2023)
Last sale anchor
$6.40M
Sep 19 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
$464 / 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
$88,636
Tax year 2024
Assessed value
$6,400,000
Assessed 2024
Previous assessed
$6,400,000
+0.0% YoY
Effective rate
1.38%
On assessed value
Assessed land
$4,100,000
Assessed improvement
$2,300,000
Applied tax rate
12.0000
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
1972
Heating
NONE
Stories
2
Units
14
Rooms
42
Bathrooms
14
Total area
13,862 SF
Lot
0.34 ac (14,609 SF)
APN
035-235-090
UPID
US09-2356350
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
$4.3M
RESTAURANT
Est. value
$9.4M
OFFICE BUILDING
Est. value
$9.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.5M
RETAIL STORES
Est. value
$6.7M
COMMERCIAL (GENERAL)
Est. value
$6.4M
AUTO REPAIR, GARAGE
Est. value
$6.3M
WAREHOUSE, STORAGE
Est. value
$5.3M
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
1972
Heating
NONE
Stories
2
Units
14
Rooms
42
Bathrooms
14
Lot
0.34 ac
Current owner
From public records · entity-resolved
Richard O Jones
Individual
Mailing address
400 CHAPIN LN, HILLSBOROUGH, CA 94010-5125
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
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 19, 2023
$6,400,000
Richard O Jones
Marianne P Osberg
Grant Deed
—
Oct 25, 2018
$7,660,000
Osberg Family Living Trust
Pearl Investment Co LLC
Grant Deed
—
Aug 1, 2016
—
Pearl Investment Company LLC
—
Deed
related
$4,000,000 · Jpmorgan Chase Bank NA
Jul 31, 2015
$4,850,000
Pearl Investment Company LLC
Michael Cordon
Grant Deed
$2,700,000 · Jpmorgan Chase Bank NA
Apr 16, 2010
$2,950,000
Michael Cordon
Strebel Family 2002 Trust
Grant Deed
$2,600,000 · Strebel Family 2002 Trust
Sep 9, 2002
—
Strebel,tr
Strebel,fred
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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