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Property profile & analytics
OFF-MARKET
Estimated value
$3,960,000
Apartment buildings
322 College Ave Palo Alto, CA 94306-1566
Entity Owned
4-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1795720
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1961
Construction
WOOD
Total area
4,927 SF
Lot
0.17 ac (7,500 SF)
Zoning code
RM3T
APN
124-31-044
UPID
US09-1795720
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
$3.82M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$3.58M
Blend (final)
Blend
$3.96M
Owner & transaction history
Laguna Pacific Investments LP · 4 yrs held
Laguna Pacific Investments LP
since 2022
Last sale
$4.3M
4 recorded transactions
Zoning & alternative use
RM3T · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$6.0M
+121.3%
Neighborhood: shopping center
$5.1M
+87.0%
Retail stores
$4.6M
+69.3%
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 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
$3,720,000
ML approach
$3,820,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,705,000
Current use
OFFICE BUILDING
$5,990,000
Change: +121% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$5,065,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$4,585,000
Change: +69% · Conversion: Difficult
Blend value · Realmo final
$3.96M
Range $3.56M – $4.36M · ±10% · vs last sale $4.34M (Feb 25 2022)
Last sale anchor
$4.34M
Feb 25 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
$804 / 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
$54,097
Tax year 2024
Assessed value
$4,513,255
Assessed 2024
Previous assessed
$4,513,255
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$3,537,360
Assessed improvement
$975,895
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
1961
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
6
Total area
4,927 SF
Lot
0.17 ac (7,500 SF)
Zoning code
RM3T
APN
124-31-044
UPID
US09-1795720
Jurisdiction
SANTA CLARA
Zoning & alternative use
RM3T · Palo Alto, CA
Zoning RM3T · permitted uses
RM3T · 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
$2.7M
OFFICE BUILDING
Est. value
$6.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$5.1M
RETAIL STORES
Est. value
$4.6M
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
1961
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
6
Lot
0.17 ac
Current owner
From public records · entity-resolved
Laguna Pacific Investments LP
Entity
Free & Clear · 4 yrs held
Mailing address
486 PANORAMA DR, LAGUNA BEACH, CA 92651-1279
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 25, 2022
$4,338,000
Laguna Pacific Investments LP
Marvin Properties Real Estate Prtnr
Grant Deed
—
Nov 18, 1997
—
Marvin Properties Real Estate
Olmstead Trust
Grant Deed
related
—
Mar 4, 1994
—
Olmstead Trust
Olmstead,paul M
Quit Claim Deed
related
—
—
—
Olmstead,paul M And Kathryn S Tr
—
Deed Of Trust
related
$315,000 · United Savings 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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