Entity Owned 
For Sale
1 / 3
$2,250,000
228 Selwyn Dr, Milpitas, CA 95035
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Property summary
AI-generated overview
The property is a six-unit multi-family building located in Milpitas within the Milpitas Unified School District. The total building area is approximately 3,795 square feet. Each unit is equipped with a wall furnace for heating, and there are shared on-site laundry facilities. Some units feature updated flooring, while the kitchens and bathrooms across the building have not been uniformly upgraded and are in need of renovation.
Property profile
Verified
Property type
Other apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1962
Construction
WOOD
Total area
3,795 SF
Lot
0.24 ac (10,560 SF)
Zoning code
R3S
APN
088-03-035
UPID
US09-0373821
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$1.34M
CAP Approach
CAP
$1.11M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.27M
Owner & transaction history
since 2020
Last sale
$1.2M
7 recorded transactions
Zoning & alternative use
R3S · Milpitas, CA
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
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 19 comparables with addresses
2 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$1.27M
Value range
$1.14M – $1.40M
±10% around blend
Estimated value / SF
$335 / SF
Confidence
High
19 county-verified comps
Property data
88
Market benchmarks
33
Comparable evidence
100
Income certainty
100
$1.14M
blend $1.27M
$1.40M
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,795 SF
Lot area
0.24 ac
Year built
1962
Stories
1
APN
088-03-035
Zoning
R3S
Assessed value
$1,243,429
3
Income approach: direct capitalization
Partial preview
Income approach indication
$1.11M
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$1.20M
@ 6.5% CAP return
$1.11M
@ 7% CAP return
$1.03M
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$1.88M
Weighted, 19 comps · high confidence
Evidence
19 found · 6 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.0 mi away · 4,632 SF
5.9 mi away · 4,644 SF
6.2 mi away · 4,224 SF
6.4 mi away · 4,777 SF
6.6 mi away · 3,910 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$1.27M
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
County 711 sales
$418
-20%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $335/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Data & methodology
Included free
Building area
County record
Property tax
Not available
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 19 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
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Overview
Selected market yield
5.70%
Selected cap rate for this other apartment buildings
Derived from the Milpitas market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.70%
9.0%
NOI (est.)
$72k *
Last sale · Mar 2020
$1.15M
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$1.27M
Move the market yield to see immediate price impact.
Value / SF
$333
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.20%5.70%6.20%
$65k
$1.25M
$1.14M
$1.05M
$72k
$1.39M
$1.27M
$1.16M
$79k
$1.53M
$1.39M
$1.28M
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
19 found
High confidence · county-verified
Closest comparable
$1.53M
4.8 mi · Dec 2025 · $435/SF
Property tax & assessments
Tax year 2022Property tax & assessments
Tax year 2022
Assessed value
$1,243,429
Assessed 2023
Previous assessed
$1,219,049
+2.0% YoY
Assessed land
$835,483
Assessed improvement
$407,946
Applied tax rate
12.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Other apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
For Sale
Year built
1962
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
1
Units
6
Total area
3,795 SF
Lot
0.24 ac (10,560 SF)
Zoning code
R3S
APN
088-03-035
UPID
US09-0373821
Jurisdiction
SANTA CLARA
Zoning & alternative use
R3S · Milpitas, CAZoning R3S · permitted uses
R3S · Milpitas, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1962
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
6
Lot
0.24 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
R3S
Jurisdiction
Milpitas, CA
Recorded code
R3S
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for R3S in Milpitas, CA.
What opens after registration
Zoning profile
2 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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