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Property profile & analytics
OFF-MARKET
Estimated value
$5,135,000
Apartment buildings
311 Everett Ave Palo Alto, CA 94301-1468
Individually Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2391704
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1957
Construction
WOOD
Total area
5,600 SF
Lot
0.22 ac (9,500 SF)
Zoning code
RM4
APN
120-14-041
UPID
US09-2391704
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
$4.88M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$4.23M
Blend (final)
Blend
$5.14M
Owner & transaction history
Mark Ming Hsun Lee · 4 yrs held
Mark Ming Hsun Lee
since 2022
Last sale
$5.8M
1 recorded transaction
Zoning & alternative use
RM4 · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.7M
+129.5%
Neighborhood: shopping center
$5.8M
+97.4%
Retail stores
$5.6M
+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
$4,970,000
ML approach
$4,880,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
OFFICE BUILDING
$6,690,000
Change: +129% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$5,755,000
Change: +97% · Conversion: Difficult
RETAIL STORES
$5,620,000
Change: +93% · Conversion: Difficult
Blend value · Realmo final
$5.14M
Range $4.62M – $5.65M · ±10% · vs last sale $5.80M (Feb 24 2022)
Last sale anchor
$5.80M
Feb 24 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
$917 / 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
$71,962
Tax year 2024
Assessed value
$6,034,320
Assessed 2024
Previous assessed
$6,034,320
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$4,681,800
Assessed improvement
$1,352,520
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
1957
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
7
Total area
5,600 SF
Lot
0.22 ac (9,500 SF)
Zoning code
RM4
APN
120-14-041
UPID
US09-2391704
Jurisdiction
SANTA CLARA
Zoning & alternative use
RM4 · Palo Alto, CA
Zoning RM4 · permitted uses
RM4 · 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
OFFICE BUILDING
Est. value
$6.7M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.8M
RETAIL STORES
Est. value
$5.6M
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
1957
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
7
Lot
0.22 ac
Current owner
From public records · entity-resolved
Mark Ming Hsun Lee
Individual
Free & Clear · 4 yrs held
Mailing address
20488 FRANKLIN AVE, SARATOGA, CA 95070-4977
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 24, 2022
$5,800,000
Mark Ming Hsun Lee
Carol B Feinstein
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.
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