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Property profile & analytics
OFF-MARKET
Estimated value
$635,000
Apartment buildings
2641 Ivy Dr Oakland, CA 94606-2166
Individually Owned
19-yr Hold
Free & Clear
Property ID
US09-7409045
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1939
Construction
WOOD
Total area
4,290 SF
Lot
0.13 ac (5,777 SF)
APN
22-339-7
UPID
US09-7409045
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$808k
Blend (final)
Blend
$635k
Owner & transaction history
James L Lewis · 19 yrs held
James L Lewis
since 2006
6 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+32.6%
Retail stores
$1.0M
+30.9%
Auto repair, garage
$805,000
+3.5%
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 Oakland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oakland 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)
$780,000
Current use
OFFICE BUILDING
$1,035,000
Change: +33% · Conversion: Moderate
RETAIL STORES
$1,020,000
Change: +31% · Conversion: Difficult
AUTO REPAIR, GARAGE
$805,000
Change: +3% · Conversion: Difficult
WAREHOUSE, STORAGE
$655,000
Change: -16% · Conversion: Difficult
Blend value · Realmo final
$635k
Range $572k – $699k · ±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
$148 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$15,979
Tax year 2023
Assessed value
$845,705
Assessed 2024
Previous assessed
$829,125
+2.0% YoY
Effective rate
1.89%
On assessed value
Assessed land
$206,897
Assessed improvement
$638,808
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
1939
Construction
WOOD
Heating
NONE
Buildings
1
Stories
3
Units
5
Rooms
24
Bathrooms
5
Total area
4,290 SF
Lot
0.13 ac (5,777 SF)
APN
22-339-7
UPID
US09-7409045
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, 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
$780,000
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
AUTO REPAIR, GARAGE
Est. value
$805,000
WAREHOUSE, STORAGE
Est. value
$655,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RETAIL STORES
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
1939
Construction
WOOD
Heating
NONE
Stories
3
Buildings
1
Units
5
Rooms
24
Bathrooms
5
Lot
0.13 ac
Current owner
From public records · entity-resolved
James L Lewis
Individual
Free & Clear · 19 yrs held
Mailing address
1035 UNDERHILLS RD, OAKLAND, CA 94610-2528
Ownership since
2006
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
Sep 11, 2006
—
James L Lewis
Owner,record
Grant Deed
related
—
Sep 5, 2006
—
James L Lewis
Ivy Properties LLC
Grant Deed
—
Sep 5, 2006
$267,000
James L Lewis
Roemer,mark F & Sharon G
Grant Deed
—
Apr 5, 2000
—
Ivy Properties LLC
Lewis,james L
Grant Deed
related
—
Jul 2, 1992
$41,500
James Lewis
Hankey Marilyn A
Grant Deed
related
—
Jun 23, 1989
$380,000
Marilyn Hankey
Lawyers Asset Ma
Grant Deed
$285,000 · Glendale Federal 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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