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Property profile & analytics
OFF-MARKET
Estimated value
$47,315,000
Apartment buildings
3600 Sierra Rdg Richmond, CA 94806-5401
Entity Owned
1-yr Hold
~
Est. High Equity
Property ID
US09-1952003
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1990
Construction
WOOD FRAME
Total area
171,052 SF
Lot
12.06 ac (525,290 SF)
Zoning code
M3
APN
405-490-013-1
UPID
US09-1952003
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
$47.32M
CAP Approach
CAP
$38.12M
Comparable Approach
Comparable
$52.44M
Blend (final)
Blend
$47.32M
Owner & transaction history
Sierra Ridge 3600 LLC · 1 yrs held
Sierra Ridge 3600 LLC
since 2024
Last sale
$47.3M
7 recorded transactions
Zoning & alternative use
M3 · Richmond, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$74.8M
+90.4%
Medical building
$62.1M
+58.1%
Commercial (general)
$48.4M
+23.1%
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 Richmond submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Richmond 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
$47,315,000
ML approach
$47,315,000
CAP Approach
CAP Return
Estimation
6%
$41,300,000
6.5%
$38,120,000
7%
$35,400,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$39,295,000
Current use
RESTAURANT
$74,800,000
Change: +90% · Conversion: Difficult
MEDICAL BUILDING
$62,130,000
Change: +58% · Conversion: Moderate
COMMERCIAL (GENERAL)
$48,370,000
Change: +23% · Conversion: Moderate
AUTO REPAIR, GARAGE
$44,165,000
Change: +12% · Conversion: Difficult
OFFICE BUILDING
$42,305,000
Change: +8% · Conversion: Moderate
RETAIL STORES
$32,610,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$47.32M
Range $42.58M – $52.05M · ±10% · vs last sale $47.31M (Nov 5 2024)
Last sale anchor
$47.31M
Nov 5 2024
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
$277 / 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
$387,295
Tax year 2024
Assessed value
$46,307,240
Assessed 2024
Previous assessed
$46,307,240
+0.0% YoY
Effective rate
0.84%
On assessed value
Assessed land
$14,139,416
Assessed improvement
$32,167,824
Applied tax rate
8.0000
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
1990
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Buildings
8
Stories
1
Units
240
Rooms
240
Total area
171,052 SF
Lot
12.06 ac (525,290 SF)
Zoning code
M3
APN
405-490-013-1
UPID
US09-1952003
Jurisdiction
CONTRA COSTA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
M3 · Richmond, CA
Zoning M3 · permitted uses
M3 · Richmond, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Richmond. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$39.3M
RESTAURANT
Est. value
$74.8M
MEDICAL BUILDING
Est. value
$62.1M
COMMERCIAL (GENERAL)
Est. value
$48.4M
AUTO REPAIR, GARAGE
Est. value
$44.2M
OFFICE BUILDING
Est. value
$42.3M
RETAIL STORES
Est. value
$32.6M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
MEDICAL BUILDING
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
OFFICE BUILDING
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
1990
Construction
WOOD FRAME
Heating
FLOOR/WALL FURNACE
Stories
1
Buildings
8
Units
240
Rooms
240
Lot
12.06 ac
Current owner
From public records · entity-resolved
Sierra Ridge 3600 LLC
Entity
Mailing address
1270 SOLDIERS FLD RD, BOSTON, MA 02135-1003
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2024
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
Nov 5, 2024
$47,313,500
Sierra Ridge 3600 LLC
Us Reif Sierra Ridge Ca LP
Grant Deed
$100,000 · Wilmington Trust NA
Oct 8, 2021
—
U S Reif Sierra Ridge Ca LP
—
Deed
related
$29,500,000 · Santander Bank NA
Aug 29, 2014
$38,800,000
Us Reif Sierra Ridge Ca LP
Prime Richmond Housing Partner
Grant Deed
$28,910,000 · Cbre Multifamily Cap
Jul 15, 2010
—
Prime Richmond Housing Partners LP
Hilltop Summit LLC
Grant Deed
$14,600,000 · Cbre Multifamily Capital INC
May 12, 2008
—
Hilltop Summit LLC
Bridge Housing Acquisitions In
Grant Deed
—
Jul 20, 1992
—
Wcap Holdings Corp
Paragon Summit A
Grant Deed
related
—
—
—
Bridge Housing Acquisitions Corp
—
Deed Of Trust
related
$15,605,000 · First Trust Of Cal
—
—
Housing Acquisitions Bridge
—
Deed Of Trust
related
$15,780,000 · Federal National Mortgage Assn
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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