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Property profile & analytics
OFF-MARKET
Estimated value
$43,535,000
Apartment buildings
3765 Tamarack Ln Santa Clara, CA 95051-2571
Entity Owned
Absentee Owner
~
Est. High Equity
Property ID
US09-0674143
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1970
Construction
WOOD
Total area
96,955 SF
Lot
2.09 ac (91,179 SF)
Zoning code
R325D
APN
213-32-022
UPID
US09-0674143
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
-
Montecito Apartments Apartment Building Apartment Rental Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$28.21M
Comparable Approach
Comparable
$42.72M
Blend (final)
Blend
$43.54M
Owner & transaction history
Flag Vii Montecito LP
Flag Vii Montecito LP
since 2025
Last sale
$51.7M
7 recorded transactions
Zoning & alternative use
R325D · Santa Clara, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$54.9M
+47.8%
Office building
$53.0M
+42.8%
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 Santa Clara submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Santa Clara 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
$43,450,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$30,560,000
6.5%
$28,210,000
7%
$26,195,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$37,125,000
Current use
RETAIL STORES
$54,875,000
Change: +48% · Conversion: Difficult
OFFICE BUILDING
$53,005,000
Change: +43% · Conversion: Moderate
WAREHOUSE, STORAGE
$34,465,000
Change: -7% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$30,780,000
Change: -17% · Conversion: Difficult
Blend value · Realmo final
$43.54M
Range $39.18M – $47.89M · ±10% · vs last sale $51.65M (Dec 23 2025)
Last sale anchor
$51.65M
Dec 23 2025
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
$449 / 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
$320,100
Tax year 2024
Assessed value
$27,441,604
Assessed 2024
Previous assessed
$27,441,604
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$16,060,310
Assessed improvement
$11,381,294
Applied tax rate
7.0000
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
1970
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
114
Total area
96,955 SF
Lot
2.09 ac (91,179 SF)
Zoning code
R325D
APN
213-32-022
UPID
US09-0674143
Jurisdiction
SANTA CLARA
Zoning & alternative use
R325D · Santa Clara, CA
Zoning R325D · permitted uses
R325D · Santa Clara, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Santa Clara. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$37.1M
RETAIL STORES
Est. value
$54.9M
OFFICE BUILDING
Est. value
$53.0M
WAREHOUSE, STORAGE
Est. value
$34.5M
INDUSTRIAL (GENERAL)
Est. value
$30.8M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
OFFICE BUILDING
WAREHOUSE, STORAGE
INDUSTRIAL (GENERAL)
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
1970
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
114
Lot
2.09 ac
Current owner
From public records · entity-resolved
Flag Vii Montecito LP
Entity
Mailing address
777 CALIFORNIA AVE STE #100, PALO ALTO, CA 94304-1199
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 23, 2025
$51,650,000
Flag Vii Montecito LP
Montecito Santa Clara LLC
Grant Deed
—
Oct 24, 2022
$50,700,000
Montecito Santa Clara LLC
Montecito Apartments LP
Grant Deed
$31,800,000 · Comerica Bank
Apr 1, 2020
—
Montecito Apartments LP
—
Deed
related
$31,720,000 · Jp Morgan Chase Bk
Jan 14, 2015
—
Montecito Apartments
Montecito Apartments LLC
Quit Claim Deed
$21,000,000 · Miscellaneous Ins Co
Apr 28, 2006
—
Cannery At Campbell LLC
Tamarack Investors
Grant Deed
—
Feb 13, 1976
—
Tamarack Investors
—
Grant Deed
related
—
—
—
Tamarack Investors LP
—
Deed Of Trust
related
$6,700,000 · Belgravia Capital Corp
—
—
Montecito Apartments LP
—
Deed Of Trust
related
$31,720,000 · Jp Morgan Chase Bk
—
—
Cannery At Campbell LLC
—
Deed Of Trust
related
$13,000,000 · Connecticut General Life Ins
—
—
Tamarack Investo
—
Deed Of Trust
related
$2,782,000 · Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
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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