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Property profile & analytics
OFF-MARKET
Estimated value
$9,165,000
Apartment buildings
2441 Carlmont Dr, Belmont, CA 94002-3271
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-1302245
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1965
Total area
29,077 SF
Lot
0.49 ac (21,435 SF)
APN
045-030-190
UPID
US09-1302245
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
$8.86M
CAP Approach
CAP
$12.18M
Comparable Approach
Comparable
$12.65M
Blend (final)
Blend
$9.17M
Owner & transaction history
Maxc LLC · 4 yrs held
Maxc LLC
since 2022
Last sale
$9.6M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$14.8M
+47.0%
Commercial (general)
$13.4M
+33.6%
Auto repair, garage
$13.2M
+31.3%
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
$8,600,000
ML approach
$8,855,000
CAP Approach
CAP Return
Estimation
6%
$13,190,000
6.5%
$12,175,000
7%
$11,305,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$10,055,000
Current use
RETAIL STORES
$14,785,000
Change: +47% · Conversion: Difficult
COMMERCIAL (GENERAL)
$13,440,000
Change: +34% · Conversion: Moderate
AUTO REPAIR, GARAGE
$13,210,000
Change: +31% · Conversion: Difficult
WAREHOUSE, STORAGE
$11,125,000
Change: +11% · Conversion: Difficult
Blend value · Realmo final
$9.17M
Range $8.25M – $10.08M · ±10% · vs last sale $9.60M (May 20 2022)
Last sale anchor
$9.60M
May 20 2022
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
$315 / 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
$129,640
Tax year 2024
Assessed value
$9,987,840
Assessed 2024
Previous assessed
$9,987,840
+0.0% YoY
Effective rate
1.30%
On assessed value
Assessed land
$5,410,080
Assessed improvement
$4,577,760
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
1965
Heating
NONE
Stories
3
Units
20
Rooms
72
Bathrooms
3
Total area
29,077 SF
Lot
0.49 ac (21,435 SF)
APN
045-030-190
UPID
US09-1302245
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
$10.1M
RETAIL STORES
Est. value
$14.8M
COMMERCIAL (GENERAL)
Est. value
$13.4M
AUTO REPAIR, GARAGE
Est. value
$13.2M
WAREHOUSE, STORAGE
Est. value
$11.1M
APARTMENT HOUSE (5+ UNITS) Current
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
1965
Heating
NONE
Stories
3
Units
20
Rooms
72
Bathrooms
3
Lot
0.49 ac
Current owner
From public records · entity-resolved
Maxc LLC
Entity
Mailing address
PO BOX 680, BELMONT, CA 94002-0680
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 6, 2025
—
Maxc LLC
—
Deed
related
$10,000 · Belmont Trident LLC
May 20, 2022
$9,600,000
Maxc LLC
Eileen O'brien
Grant Deed
$7,375,000 · Keystone Real Estate Income Trust L
Sep 5, 2019
—
King Family Trust
—
Trustees Deed
related
$1,875,000 · First Republic Bk
Dec 12, 2018
—
King Family Trust
King Family Trust
Quit Claim Deed
related
—
Jun 27, 2016
—
Knowlton King
King,gloria G & Norma K
Affidavit Of Death
related
—
Mar 16, 2007
—
Norman K King
King,n Knowlton
Quit Claim Deed
related
—
—
—
Knowlton N King
—
Deed Of Trust
related
$157,000 · Washington Mutual 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.
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