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Property profile & analytics
OFF-MARKET
Estimated value
$140,440,000
Apartment buildings
501 Murphy Rnch Rd Milpitas, CA 95035-7913
Entity Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2221539
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2013
Total area
362,780 SF
Lot
7.58 ac (330,184 SF)
Zoning code
APD
APN
083-03-003
UPID
US09-2221539
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
-
Griffis South Bay North Entrance Apartment Building
-
Griffis South Bay Apartment Complex
-
Steve M Tech Support Center (Bike/Boat/Book/etc) Store
-
The Notary Nest - CA Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$106.09M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$140.44M
Owner & transaction history
501 Murphy Ranch LP · 3 yrs held
501 Murphy Ranch LP
since 2023
Last sale
$153.5M
7 recorded transactions
Zoning & alternative use
APD · Milpitas, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$215.4M
+42.0%
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 Milpitas submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Milpitas 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
$148,675,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$114,930,000
6.5%
$106,090,000
7%
$98,510,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$151,630,000
Current use
OFFICE BUILDING
$215,355,000
Change: +42% · Conversion: Moderate
WAREHOUSE, STORAGE
$128,965,000
Change: -15% · Conversion: Difficult
Blend value · Realmo final
$140.44M
Range $126.40M – $154.48M · ±10% · vs last sale $153.50M (Mar 30 2023)
Last sale anchor
$153.50M
Mar 30 2023
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
$387 / 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
$1,996,628
Tax year 2024
Assessed value
$156,793,708
Assessed 2024
Previous assessed
$156,793,708
+0.0% YoY
Effective rate
1.27%
On assessed value
Assessed land
$24,990,000
Assessed improvement
$131,803,708
Applied tax rate
12.0000
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
2013
Heating
NONE
Stories
4
Units
374
Total area
362,780 SF
Lot
7.58 ac (330,184 SF)
Zoning code
APD
APN
083-03-003
UPID
US09-2221539
Jurisdiction
SANTA CLARA
Zoning & alternative use
APD · Milpitas, CA
Zoning APD · permitted uses
APD · Milpitas, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Milpitas. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$151.6M
OFFICE BUILDING
Est. value
$215.4M
WAREHOUSE, STORAGE
Est. value
$129.0M
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
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
2013
Heating
NONE
Stories
4
Units
374
Lot
7.58 ac
Current owner
From public records · entity-resolved
501 Murphy Ranch LP
Entity
Mailing address
6400 S FIDDLERS GRN CIR STE #1200, GREENWOOD VILLAGE, CO 80111-4913
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2023
$153,500,000
501 Murphy Ranch LP
Fairfield Murphy Road LLC
Grant Deed
$101,500,000 · Jill Real Estate Capital LLC
Aug 30, 2019
—
Fairfield Murphy Road LLC
—
Loan Modification
related
$77,500,000 · Miscellaneous Ins Co
Apr 8, 2011
—
Fairfield Murphy Road LLC
—
Trustees Deed
related
$47,500,000 · Miscellaneous Ins Co
May 14, 2010
—
Fairfield Murphy Road LLC
Fairfield Murphy Road LLC
Quit Claim Deed
related
—
May 13, 2010
—
Fairfield Murphy Road LLC
—
Loan Modification
related
$9,700,000 · Wells Fargo Bk
Dec 12, 2007
—
Fairfield Murphy Road LLC
Lucent Technologies INC
Grant Deed
—
Feb 21, 1997
—
Sumitomo Bank Leasing & Financ
Peery Private Investment Co LP
Grant Deed
related
—
Feb 12, 1997
—
Richard T Peery
Peery,milderd D
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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