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Property profile & analytics
FOR SALE
Apartment buildings
2311 Carlmont Dr, Belmont, CA 94002
Entity Owned
19-yr Hold
~
Est. High Equity
Property ID
US09-1781525
For Sale
1 / 16
$8,500,000
2311 Carlmont Dr, Belmont, CA 94002
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1961
Total area
23,629 SF
Lot
0.61 ac (26,540 SF)
Zoning code
R30000
APN
045-015-090
UPID
US09-1781525
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
Current use
Occupant on record · Public records
-
Catania Regency Apartments Apartment Building
-
Long Music Academy Tutoring Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$6.01M
Owner & transaction history
Catania LP · 19 yrs held
Catania LP
since 2007
6 recorded transactions
Zoning & alternative use
R30000 · Belmont, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$9.0M
+10.6%
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$8,175,000
Current use
WAREHOUSE, STORAGE
$9,040,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$6.01M
Range $5.41M – $6.61M · ±10%
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
$254 / 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
$149,225
Tax year 2024
Assessed value
$11,258,119
Assessed 2024
Previous assessed
$11,258,119
+0.0% YoY
Effective rate
1.33%
On assessed value
Assessed land
$5,897,110
Assessed improvement
$5,361,009
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
For Sale
Year built
1961
Heating
NONE
Stories
3
Units
19
Rooms
74
Bathrooms
3
Total area
23,629 SF
Lot
0.61 ac (26,540 SF)
Zoning code
R30000
APN
045-015-090
UPID
US09-1781525
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R30000 · Belmont, CA
Zoning R30000 · permitted uses
R30000 · 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
$8.2M
WAREHOUSE, STORAGE
Est. value
$9.0M
APARTMENT HOUSE (5+ UNITS) Current
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
1961
Heating
NONE
Stories
3
Units
19
Rooms
74
Bathrooms
3
Lot
0.61 ac
Current owner
From public records · entity-resolved
Catania LP
Entity
Mailing address
PO BOX 25090, SAN MATEO, CA 94402-5090
Ownership since
2007
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
Nov 14, 2023
—
Catania Limited Partnership
—
Deed
related
$2,200,000 · Jpmorgan Chase Bank NA
Nov 22, 2016
—
Catania Limited Partnership
—
Deed
related
$2,500,000 · Jpmorgan Chase Bank NA
Mar 30, 2007
—
Catania LP
The Catania LP
Grant Deed
$2,000,000 · Washington Mutual Bank
Jan 19, 2000
—
LP Catania
Catania Trust
Quit Claim Deed
related
—
Dec 29, 1999
—
Daniel M Catania
Catania Trust
Quit Claim Deed
related
—
—
—
Catania Trust
—
Deed Of Trust
related
$1,250,000 · Citibank Fsb
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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