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Property profile & analytics
OFF-MARKET
Estimated value
$3,195,000
Apartment buildings
251 Emerson St Palo Alto, CA 94301-1063
Individually Owned
5-yr Hold
~
Est. High Equity
Property ID
US09-1566644
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1906
Construction
WOOD
Total area
3,915 SF
Lot
0.13 ac (5,650 SF)
Zoning code
RM30
APN
120-25-025
UPID
US09-1566644
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
$3.25M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$2.95M
Blend (final)
Blend
$3.20M
Owner & transaction history
Vivek Agrawal · 5 yrs held
Vivek Agrawal
since 2021
Last sale
$3.4M
7 recorded transactions
Zoning & alternative use
RM30 · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$4.7M
+129.5%
Neighborhood: shopping center
$4.0M
+97.4%
Retail stores
$3.9M
+92.7%
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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$3,070,000
ML approach
$3,250,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,040,000
Current use
OFFICE BUILDING
$4,675,000
Change: +129% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,025,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$3,930,000
Change: +93% · Conversion: Difficult
Blend value · Realmo final
$3.20M
Range $2.88M – $3.51M · ±10% · vs last sale $3.35M (Jul 9 2021)
Last sale anchor
$3.35M
Jul 9 2021
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
$816 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$3,417,000
Assessed 2023
Previous assessed
$3,350,000
+2.0% YoY
Assessed land
$1,836,000
Assessed improvement
$1,581,000
Applied tax rate
6.0000
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
1906
Construction
WOOD
Heating
CENTRAL
Cooling
NONE
Stories
3
Units
8
Total area
3,915 SF
Lot
0.13 ac (5,650 SF)
Zoning code
RM30
APN
120-25-025
UPID
US09-1566644
Jurisdiction
SANTA CLARA
Zoning & alternative use
RM30 · Palo Alto, CA
Zoning RM30 · permitted uses
RM30 · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.0M
OFFICE BUILDING
Est. value
$4.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.0M
RETAIL STORES
Est. value
$3.9M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1906
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
3
Units
8
Lot
0.13 ac
Current owner
From public records · entity-resolved
Vivek Agrawal
Individual
Mailing address
1047 N PORTAL AVE, CUPERTINO, CA 95014
Ownership since
2021
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
16 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 9, 2021
$3,350,000
Vivek Agrawal
Dennis A Levett
Grant Deed
$1,872,500 · First Republic Bank
Jun 29, 2011
—
Dennis A Levett
Levett,karen
Quit Claim Deed
related
—
Oct 28, 2004
$1,585,000
Dennis A Levett
Helms,kenna S
Grant Deed
$1,067,500 · First Republic Bank
Oct 28, 2004
—
Dennis A Levett
Levett,karen L
Quit Claim Deed
related
—
Aug 24, 2000
—
Loveless Trust
Loveless,nicki J
Quit Claim Deed
related
—
May 10, 1995
$540,000
Loveless,nicki J
Novotny,thomas & Phyllis H
Trustees Deed
$540,000 · Home Savings Of America
May 10, 1995
—
Nicki J Loveless
Loveless,alan
Quit Claim Deed
related
—
Mar 1, 1995
—
Nicki J Loveless
Loveless,alan B
Quit Claim Deed
related
—
Feb 17, 1995
—
Milia Trust
Milia,marina
Quit Claim Deed
related
—
Nov 1, 1991
$130,000
Thomas Novotny
Novotny,thomas&p
Grant Deed
related
—
—
—
Loveless Trust
—
Deed Of Trust
related
$350,000 · James J & Lanell
—
—
Levett Dennis A 2004 Trust
—
Deed Of Trust
related
$970,000 · First Republic Bank
—
—
Kenna S Helmi
—
Deed Of Trust
related
$875,000 · Borel Bank & Trust
—
—
Thomas W Novotny
—
Deed Of Trust
related
$60,000 · Individual
—
—
Kenna S Helms
—
Deed Of Trust
related
$100,000 · Borel Bank & Trust
—
—
Lovel
—
Deed Of Trust
related
$450,000 · Great Western Bank
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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