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Property profile & analytics
OFF-MARKET
Estimated value
$4,750,000
Apartment buildings
487 James Rd Palo Alto, CA 94306-4067
Individually Owned
2-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1832469
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1963
Construction
WOOD
Total area
7,144 SF
Lot
0.31 ac (13,300 SF)
Zoning code
RM2
APN
132-46-079
UPID
US09-1832469
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
$4.75M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$5.19M
Blend (final)
Blend
$4.75M
Owner & transaction history
Edward S Y Kwong · 2 yrs held
Edward S Y Kwong
since 2024
Last sale
$4.8M
5 recorded transactions
Zoning & alternative use
RM2 · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$7.3M
+87.0%
Retail stores
$6.6M
+69.3%
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
$4,750,000
ML approach
$4,750,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,925,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$7,340,000
Change: +87% · Conversion: Difficult
RETAIL STORES
$6,645,000
Change: +69% · Conversion: Difficult
Blend value · Realmo final
$4.75M
Range $4.28M – $5.23M · ±10% · vs last sale $4.75M (Jun 14 2024)
Last sale anchor
$4.75M
Jun 14 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
$665 / 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
$60,408
Tax year 2024
Assessed value
$5,048,543
Assessed 2024
Previous assessed
$5,048,543
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$4,178,106
Assessed improvement
$870,437
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
1963
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
6
Total area
7,144 SF
Lot
0.31 ac (13,300 SF)
Zoning code
RM2
APN
132-46-079
UPID
US09-1832469
Jurisdiction
SANTA CLARA
Zoning & alternative use
RM2 · Palo Alto, CA
Zoning RM2 · permitted uses
RM2 · 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
$3.9M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$7.3M
RETAIL STORES
Est. value
$6.6M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
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
1963
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
6
Lot
0.31 ac
Current owner
From public records · entity-resolved
Edward S Y Kwong
Individual
Free & Clear · 2 yrs held
Mailing address
521 TILLER LN, REDWOOD CITY, CA 94065-1119
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 14, 2024
$4,750,000
Edward S Y Kwong
Glenwood Ventures INC
Grant Deed
—
Dec 31, 2015
$4,350,000
Glenwood Ventures INC
Beltramos Investment Co INC
Grant Deed
—
Apr 2, 2012
$2,265,000
Beltramos Investment Co INC
Schonfeld Family Trust
Grant Deed
—
Apr 2, 2012
—
Gunter K Schonfeld
Schonfeld,irmgard
Affidavit Of Death
related
—
Feb 25, 2002
—
Gunter K Schonfeld
Schonfeld,gunterh K & Irmgard
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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