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Property profile & analytics
OFF-MARKET
Estimated value
$3,710,000
Apartment buildings
255 3rd St San Jose, CA 95112-5224
Individually Owned
Absentee Owner
~
Est. High Equity
Property ID
US10-1831034
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1964
Construction
WOOD
Total area
6,528 SF
Lot
0.18 ac (7,769 SF)
Zoning code
C
APN
467-01-021
UPID
US10-1831034
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
-
Online Food Ordering System (Bike/Boat/Book/etc) Store Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.35M
Blend (final)
Blend
$3.71M
Owner & transaction history
Michael Frangadakis
Michael Frangadakis
since 2026
Last sale
$4.4M
7 recorded transactions
Zoning & alternative use
C · San Jose, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$3.0M
+19.5%
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 Jose submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Jose 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)
$2,500,000
Current use
WAREHOUSE, STORAGE
$2,985,000
Change: +19% · Conversion: Difficult
RETAIL STORES
$2,410,000
Change: -4% · Conversion: Difficult
Blend value · Realmo final
$3.71M
Range $3.34M – $4.08M · ±10% · vs last sale $4.36M (Feb 26 2026)
Last sale anchor
$4.36M
Feb 26 2026
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
$568 / 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
$72,212
Tax year 2024
Assessed value
$5,604,932
Assessed 2024
Previous assessed
$5,604,932
+0.0% YoY
Effective rate
1.29%
On assessed value
Assessed land
$3,171,571
Assessed improvement
$2,433,361
Applied tax rate
17.0000
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
1964
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
16
Total area
6,528 SF
Lot
0.18 ac (7,769 SF)
Zoning code
C
APN
467-01-021
UPID
US10-1831034
Jurisdiction
SANTA CLARA
Zoning & alternative use
C · San Jose, CA
Zoning C · permitted uses
C · San Jose, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Jose. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$2.5M
WAREHOUSE, STORAGE
Est. value
$3.0M
RETAIL STORES
Est. value
$2.4M
APARTMENT HOUSE (5+ UNITS) Current
WAREHOUSE, STORAGE
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
1964
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
16
Lot
0.18 ac
Current owner
From public records · entity-resolved
Michael Frangadakis
Individual
Mailing address
1535 LAKEVIEW DR, HILLSBOROUGH, CA 94010-7330
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
15 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 26, 2026
$4,360,000
Michael Frangadakis
Top Golden State Investments LLC
Grant Deed
$1,100,000 · Jpmorgan Chase Bank NA
Apr 13, 2021
—
Grace Liyee Wang Lee
Yee W Lee Li
Intrafamily Transfer
related
—
Mar 10, 2021
—
Yee W Lee Li
Yee W Lee Li
Affidavit Of Death Of Joint Tenant
related
—
May 31, 2019
$15,374,545
Yee W Lee Li
A5 Properties LLC
Grant Deed
$2,900,000 · Jpmorgan Chase Bank NA
Aug 27, 2018
—
A5 Properties LLC
—
Deed
related
$7,337,720 · Southwest Hsng Mgmt LLC
Jun 1, 2017
$4,600,000
A5 Properties LLC
255 N 3rd Street San Jose Ca LLC
Grant Deed
$2,845,000 · First Foundation Bank
Jun 22, 2012
$2,195,000
255 N 3rd Street San Jose Ca LLC
California Infinity Investment Part
Grant Deed
$1,646,250 · Jpmorgan Chase Bank NA
Oct 24, 2007
$1,980,000
California Infinity Inv Ptrs
Loh-deschaumes Trust
Grant Deed
$1,320,000 · East West Bank
Mar 18, 2002
—
Loh Trust
Deschaumes,luc P & Katherine S
Grant Deed
related
—
Feb 28, 2001
$1,775,000
Luc D Deschaumes
Pereira Trust
Grant Deed
$1,331,250 · California Federal Bank
Apr 12, 1996
—
Pereira Trust
Pereira,joe A & Leta R
Quit Claim Deed
related
—
Oct 20, 1993
$755,000
Joe Pereira
Wolf,erika And E
Grant Deed
$566,000 · Home Savings Of America
—
—
Infinity Inv Ptrs L California
—
Deed Of Trust
related
$460,000 · Richard Kash
—
—
Infinity Investment Ptrs LLC
—
Deed Of Trust
related
$396,000 · Loh-deschaumes Family Trust
—
—
A5 Properties LLC
—
Deed Of Trust
related
$7,337,720 · Southwest Hsng Mgmt LLC
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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