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Property profile & analytics
OFF-MARKET
Estimated value
$4,325,000
Apartment buildings
421 Richmond Dr Millbrae, CA 94030-1664
Individually Owned
9-yr Hold
Free & Clear
Property ID
US10-2989868
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1970
Total area
17,724 SF
Lot
0.34 ac (15,000 SF)
Zoning code
R30000
APN
021-434-240
UPID
US10-2989868
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
by Request
Blend (final)
Blend
$4.33M
Owner & transaction history
Claudia Johnson · 9 yrs held
Claudia Johnson
since 2017
6 recorded transactions
Zoning & alternative use
R30000 · Millbrae, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$6.8M
+15.6%
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 Millbrae submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millbrae 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)
$5,865,000
Current use
WAREHOUSE, STORAGE
$6,780,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$4.33M
Range $3.89M – $4.76M · ±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
$244 / 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
$121,232
Tax year 2024
Assessed value
$8,874,000
Assessed 2024
Previous assessed
$8,874,000
+0.0% YoY
Effective rate
1.37%
On assessed value
Assessed land
$4,998,000
Assessed improvement
$3,876,000
Applied tax rate
14.0000
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
Heating
NONE
Stories
3
Units
15
Rooms
62
Bathrooms
17
Total area
17,724 SF
Lot
0.34 ac (15,000 SF)
Zoning code
R30000
APN
021-434-240
UPID
US10-2989868
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R30000 · Millbrae, CA
Zoning R30000 · permitted uses
R30000 · Millbrae, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Millbrae. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$5.9M
WAREHOUSE, STORAGE
Est. value
$6.8M
APARTMENT HOUSE (5+ UNITS) Current
WAREHOUSE, STORAGE
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
Heating
NONE
Stories
3
Units
15
Rooms
62
Bathrooms
17
Lot
0.34 ac
Current owner
From public records · entity-resolved
Claudia Johnson
Individual
Free & Clear · 9 yrs held
Mailing address
PO BOX 1146, SAN MATEO, CA 94403-0746
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 11, 2017
—
Claudia Johnson
Finnigan,cornelius F
Affidavit Of Death
related
—
Jul 2, 2009
$3,550,000
Finnigan C F & B J 2003 Trust
421 Richmond Drive LLC
Grant Deed
—
Jan 29, 2008
—
Siu W Chan
Tin,justin
Grant Deed
related
—
Mar 26, 2007
$3,500,000
421 Richmond Drive LLC
Oyharcabal Catherine
Grant Deed
$3,200,000 · United Commercial Bank
Dec 20, 2001
—
Oyharcabak Trust
Oyharcabal Trust
Quit Claim Deed
related
—
Sep 21, 1994
—
Michel Oyharcabal Trustee
Oyharcabal,michel & Catherine
Quit Claim Deed
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.
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