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Property profile & analytics
OFF-MARKET
Estimated value
$5,835,000
Apartment buildings
488 Charleston Rd Palo Alto, CA 94306-4103
Individually Owned
17-yr Hold
~
Est. High Equity
Property ID
US09-0779190
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2011
Construction
WOOD
Total area
21,060 SF
Lot
0.71 ac (31,132 SF)
Zoning code
PC
APN
132-46-072
UPID
US09-0779190
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
$6.16M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$5.84M
Owner & transaction history
Tree House Apartments · 17 yrs held
Tree House Apartments
since 2009
6 recorded transactions
Zoning & alternative use
PC · Palo Alto, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$6,670,000
6.5%
$6,160,000
7%
$5,720,000
Blend value · Realmo final
$5.84M
Range $5.25M – $6.42M · ±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
$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
$1,869
Tax year 2024
Assessed value
$11,194,843
Assessed 2024
Previous assessed
$11,194,843
+0.0% YoY
Effective rate
0.02%
On assessed value
Assessed land
$3,598,164
Assessed improvement
$7,596,679
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
2011
Construction
WOOD
Heating
NONE
Cooling
YES
Stories
4
Units
35
Total area
21,060 SF
Lot
0.71 ac (31,132 SF)
Zoning code
PC
APN
132-46-072
UPID
US09-0779190
Jurisdiction
SANTA CLARA
Zoning & alternative use
PC · Palo Alto, CAZoning PC · permitted uses
PC · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2011
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
4
Units
35
Lot
0.71 ac
Current owner
From public records · entity-resolved
Tree House Apartments
Individual
Mailing address
3460 W BAYSHORE RD STE #104, PALO ALTO, CA 94303-4269
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2009
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
Nov 10, 2010
—
Tree House Apartments LP
—
Trustees Deed
related
$2,675,000 · Bank Of America
Mar 26, 2009
$2,850,000
Tree House Apartments
Peninsula Endowment INC
Grant Deed
$2,838,577 · Palo Alto City (ca)
—
—
Tree House Apartments LP
—
Deed Of Trust
related
$400,000 · Santa Clara County (ca)
—
—
Tree House Apartments LP
—
Deed Of Trust
related
$960,000 · Santa Clara County (ca)
—
—
Tree House Apartments LP
—
Deed Of Trust
related
$500,000 · Opportunity Fund Northern Ca
—
—
Tree House Apartments LP
—
Deed Of Trust
related
$5,338,577 · Palo Alto City (ca)
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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