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Property profile & analytics
OFF-MARKET
Estimated value
$2,645,000
Apartment buildings
331 Poe St Palo Alto, CA 94301-1155
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2520960
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1965
Construction
WOOD
Total area
5,843 SF
Lot
0.21 ac (9,000 SF)
Zoning code
R1
APN
120-12-037
UPID
US09-2520960
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
-
Fortis Custom Homes Construction Company General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.58M
CAP Approach
CAP
$1.71M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.65M
Owner & transaction history
Reza Malek · 3 yrs held
Reza Malek
since 2023
Last sale
$2.7M
7 recorded transactions
Zoning & alternative use
R1 · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$2,605,000
ML approach
$2,580,000
CAP Approach
CAP Return
Estimation
6%
$1,850,000
6.5%
$1,710,000
7%
$1,585,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,040,000
Current use
Blend value · Realmo final
$2.65M
Range $2.38M – $2.91M · ±10% · vs last sale $2.69M (Jun 9 2023)
Last sale anchor
$2.69M
Jun 9 2023
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
$453 / 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
$56,798
Tax year 2024
Assessed value
$4,743,000
Assessed 2024
Previous assessed
$4,743,000
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$2,856,000
Assessed improvement
$1,887,000
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
1965
Construction
WOOD
Heating
CENTRAL
Cooling
NONE
Stories
2
Units
7
Total area
5,843 SF
Lot
0.21 ac (9,000 SF)
Zoning code
R1
APN
120-12-037
UPID
US09-2520960
Jurisdiction
SANTA CLARA
Zoning & alternative use
R1 · Palo Alto, CA
Zoning R1 · permitted uses
R1 · 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
$3.0M
APARTMENT HOUSE (5+ UNITS) Current
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
1965
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Stories
2
Units
7
Lot
0.21 ac
Current owner
From public records · entity-resolved
Reza Malek
Individual
Mailing address
334 POE ST, PALO ALTO, CA 94301-1134
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 9, 2023
$2,691,500
Reza Malek
Roger H Bailey
Grant Deed
$2,000,000 · Umpqua Bank
Apr 26, 2022
—
Eleanor Orr
—
Deed
related
$2,000,000 · Umpqua Bank
Mar 28, 2018
—
Eleanor Orr
Eleanor Orr
Intrafamily Transfer
related
$2,000,000 · Umpqua Bank
Mar 15, 2018
—
Eleanor S Sannasardo
Sannasardo,eleanor S
Quit Claim Deed
related
—
Sep 3, 2015
—
Charles S Bailey
Bailey,charles S & Holly
Quit Claim Deed
related
—
Sep 5, 2013
—
Eleanor S Sannasardo
Sannasardo E S Trust
Quit Claim Deed
related
—
Mar 16, 2007
—
Roger H Bailey
Sannasardo E S Trust
Grant Deed
—
—
—
Sannasardo Eleanor B Trustee
—
Deed Of Trust
related
—
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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