Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$47,190,000
Apartment buildings
242 36th Ave San Mateo, CA 94403-4295
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-5491890
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Total area
105,724 SF
Lot
5.3 ac (230,949 SF)
APN
042-112-240
UPID
US09-5491890
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
$47.19M
CAP Approach
CAP
$36.72M
Comparable Approach
Comparable
$31.94M
Blend (final)
Blend
$47.19M
Owner & transaction history
Hillsdale Property San Mateo LP · 1 yrs held
Hillsdale Property San Mateo LP
since 2024
Last sale
$47.2M
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$71.5M
+118.1%
Office building
$68.9M
+110.3%
Neighborhood: shopping center
$57.1M
+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
$47,190,000
ML approach
$47,190,000
CAP Approach
CAP Return
Estimation
6%
$39,775,000
6.5%
$36,715,000
7%
$34,090,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$32,780,000
Current use
RESTAURANT
$71,490,000
Change: +118% · Conversion: Difficult
OFFICE BUILDING
$68,935,000
Change: +110% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$57,055,000
Change: +74% · Conversion: Difficult
RETAIL STORES
$51,240,000
Change: +56% · Conversion: Difficult
COMMERCIAL (GENERAL)
$48,860,000
Change: +49% · Conversion: Moderate
AUTO REPAIR, GARAGE
$48,030,000
Change: +47% · Conversion: Difficult
WAREHOUSE, STORAGE
$40,455,000
Change: +23% · Conversion: Difficult
Blend value · Realmo final
$47.19M
Range $42.47M – $51.91M · ±10% · vs last sale $47.19M (Oct 18 2024)
Last sale anchor
$47.19M
Oct 18 2024
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
$446 / 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
$491,568
Tax year 2024
Assessed value
$24,286,889
Assessed 2024
Previous assessed
$24,286,889
+0.0% YoY
Effective rate
2.02%
On assessed value
Assessed land
$18,498,309
Assessed improvement
$5,788,580
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
1950
Heating
NONE
Stories
2
Units
128
Rooms
373
Bathrooms
1
Total area
105,724 SF
Lot
5.3 ac (230,949 SF)
APN
042-112-240
UPID
US09-5491890
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
$32.8M
RESTAURANT
Est. value
$71.5M
OFFICE BUILDING
Est. value
$68.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$57.1M
RETAIL STORES
Est. value
$51.2M
COMMERCIAL (GENERAL)
Est. value
$48.9M
AUTO REPAIR, GARAGE
Est. value
$48.0M
WAREHOUSE, STORAGE
Est. value
$40.5M
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
1950
Heating
NONE
Stories
2
Units
128
Rooms
373
Bathrooms
1
Lot
5.3 ac
Current owner
From public records · entity-resolved
Hillsdale Property San Mateo LP
Entity
Mailing address
PO BOX 4747, OAK BROOK, IL 60522-4747
Ownership since
2024
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 18, 2024
$47,192,000
Hillsdale Property San Mateo LP
Essex Hillsdale Garden Apartments L
Grant Deed
$138,800,000 · Key Bank NA
Oct 18, 2024
$205,170,500
Hillsdale Property San Mateo LP
Essex Hillsdale Holding LP
Grant Deed
—
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?”
You own 242 36th Ave?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
