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Property profile & analytics
OFF-MARKET
Estimated value
$705,000
Apartment buildings
3809 Penniman Ave Oakland, CA 94619-1745
Entity Owned
9-yr Hold
~
Est. High Equity
Property ID
US09-9248370
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1929
Construction
WOOD
Total area
4,212 SF
Lot
0.11 ac (5,000 SF)
APN
32-2053-2
UPID
US09-9248370
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$890k
Blend (final)
Blend
$705k
Owner & transaction history
Hillcrest Investments LLC · 9 yrs held
Hillcrest Investments LLC
since 2016
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$1.0M
+54.3%
Retail stores
$1.0M
+52.2%
Commercial (general)
$930,000
+41.1%
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 Oakland submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Oakland 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$660,000
Current use
OFFICE BUILDING
$1,015,000
Change: +54% · Conversion: Moderate
RETAIL STORES
$1,000,000
Change: +52% · Conversion: Difficult
COMMERCIAL (GENERAL)
$930,000
Change: +41% · Conversion: Moderate
WAREHOUSE, STORAGE
$800,000
Change: +22% · Conversion: Difficult
AUTO REPAIR, GARAGE
$790,000
Change: +20% · Conversion: Difficult
Blend value · Realmo final
$705k
Range $635k – $776k · ±10%
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
$167 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$18,459
Tax year 2023
Assessed value
$964,406
Assessed 2024
Previous assessed
$945,497
+2.0% YoY
Effective rate
1.91%
On assessed value
Assessed land
$241,101
Assessed improvement
$723,305
Applied tax rate
17.0000
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
1929
Construction
WOOD
Heating
NONE
Buildings
1
Stories
2
Units
6
Rooms
18
Bathrooms
6
Total area
4,212 SF
Lot
0.11 ac (5,000 SF)
APN
32-2053-2
UPID
US09-9248370
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$660,000
OFFICE BUILDING
Est. value
$1.0M
RETAIL STORES
Est. value
$1.0M
COMMERCIAL (GENERAL)
Est. value
$930,000
WAREHOUSE, STORAGE
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$790,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
AUTO REPAIR, GARAGE
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
1929
Construction
WOOD
Heating
NONE
Stories
2
Buildings
1
Units
6
Rooms
18
Bathrooms
6
Lot
0.11 ac
Current owner
From public records · entity-resolved
Hillcrest Investments LLC
Entity
Mailing address
3049 FLORIDA ST, OAKLAND, CA 94602-3326
Ownership since
2016
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Sep 8, 2016
$850,000
Hillcrest Investments LLC
3809 Penniman Avenue LLC
Grant Deed
$450,000 · Bank Of The Orient
Sep 18, 2012
—
3809 Penniman LLC
Winkler,daniel M & Ji F
Grant Deed
$300,000 · Fremont Bank
Jun 20, 2011
$84,672
Daniel M Winkler
Veros Partners LLC
Grant Deed
—
Jun 17, 2011
$249,000
Veros Partners LLC
East West Bk
Grant Deed
$249,000 · Laurie Capitelli Pension & Psp
Feb 4, 2011
$414,000
East West Bk
East West Investments INC
Trustees Deed
related
—
Oct 31, 2006
$750,000
Laura J Sanchez
Avalos Marina Living Trust
Grant Deed
$562,500 · United Commercial Bank
Dec 11, 2003
—
Avalos,tr
Avalos,marina
Quit Claim Deed
related
—
Jun 5, 2003
$610,000
Marina Avalos
Weiss,james J & Melissa
Grant Deed
$457,500 · California Savings Bank
Oct 31, 2000
$92,500
James J Weiss
Leong Trust
Grant Deed
—
—
—
3809 Penniman Avenue LLC
—
Deed Of Trust
related
$200,000 · Sperber Marjorie Living Trust
—
—
Thomas Leong
—
Deed Of Trust
related
$210,000 · Bay View Federal 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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