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Property profile & analytics
OFF-MARKET
Estimated value
$2,830,000
Apartment buildings
502 Richmond Dr Millbrae, CA 94030-1647
Trust Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-3119782
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1968
Total area
8,325 SF
Lot
0.14 ac (6,153 SF)
APN
021-411-030
UPID
US10-3119782
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
-
Petrucci Family Investments Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$2.92M
CAP Approach
CAP
$3.49M
Comparable Approach
Comparable
$3.68M
Blend (final)
Blend
$2.83M
Owner & transaction history
Ahmed,mohamed & Celia Trust · 5 yrs held
Ahmed,mohamed & Celia Trust
since 2020
Last sale
$2.8M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$4.5M
+63.1%
Retail stores
$4.2M
+53.7%
Commercial (general)
$3.8M
+39.6%
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
$2,795,000
ML approach
$2,915,000
CAP Approach
CAP Return
Estimation
6%
$3,775,000
6.5%
$3,485,000
7%
$3,235,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$2,755,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$4,495,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$4,235,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$3,845,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$3,780,000
Change: +37% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,185,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$2.83M
Range $2.55M – $3.11M · ±10% · vs last sale $2.80M (Sep 17 2020)
Last sale anchor
$2.80M
Sep 17 2020
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
$340 / 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
$42,477
Tax year 2024
Assessed value
$2,971,381
Assessed 2024
Previous assessed
$2,971,381
+0.0% YoY
Effective rate
1.43%
On assessed value
Assessed land
$1,135,492
Assessed improvement
$1,835,889
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
1968
Heating
NONE
Stories
3
Units
6
Rooms
21
Bathrooms
7
Total area
8,325 SF
Lot
0.14 ac (6,153 SF)
APN
021-411-030
UPID
US10-3119782
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, 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
$2.8M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.5M
RETAIL STORES
Est. value
$4.2M
COMMERCIAL (GENERAL)
Est. value
$3.8M
AUTO REPAIR, GARAGE
Est. value
$3.8M
WAREHOUSE, STORAGE
Est. value
$3.2M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1968
Heating
NONE
Stories
3
Units
6
Rooms
21
Bathrooms
7
Lot
0.14 ac
Current owner
From public records · entity-resolved
Ahmed,mohamed & Celia Trust
Trust
Mailing address
6 BELVEDERE CT, BURLINGAME, CA 94010-6011
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
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
Sep 17, 2020
$2,800,000
Ahmed,mohamed & Celia Trust
Petrucci J L & D A F/tr
Grant Deed
—
Nov 29, 2016
—
James L Petrucci
—
Deed
related
$1,001,000 · Mufg Union Bank NA
Mar 19, 2013
—
Petrucci J L & D A Family Trust
Petrucci,james L & Deborah A
Quit Claim Deed
related
—
Nov 16, 2012
—
James L Petrucci
Petrucci Family Investments LP
Quit Claim Deed
related
—
May 31, 2006
$1,600,000
Petrucci Family Investments LP
Samir Habash
Individual Deed
$541,000 · Washington Mutual Bank
May 14, 2001
$1,100,000
Habash Trust
Habash,samir S & Estear S
Grant Deed
related
—
Nov 30, 2000
$1,100,000
Samir S Habash
Ruane Trust
Grant Deed
$300,000 · World Savings Bank
May 1, 1989
$710,000
James Ruane
Estate Delfino,a
Grant Deed
$425,000 · 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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