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Property profile & analytics
OFF-MARKET
Estimated value
$31,865,000
Apartment buildings
621 Old County Rd, Belmont, CA 94002-2664
Entity Owned
16-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-2261282
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1971
Total area
176,200 SF
Lot
4.71 ac (205,278 SF)
Zoning code
R40000
APN
040-271-380
UPID
US09-2261282
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
$31.87M
Owner & transaction history
Prime Old County · 16 yrs held
Prime Old County
since 2009
7 recorded transactions
Zoning & alternative use
R40000 · Belmont, 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 Belmont submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Belmont 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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
$181 / 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
$746,874
Tax year 2024
Assessed value
$36,424,896
Assessed 2024
Previous assessed
$36,424,896
+0.0% YoY
Effective rate
2.05%
On assessed value
Assessed land
$23,104,045
Assessed improvement
$13,320,851
Applied tax rate
3.0000
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
1971
Heating
NONE
Stories
3
Units
198
Rooms
54
Bathrooms
3
Total area
176,200 SF
Lot
4.71 ac (205,278 SF)
Zoning code
R40000
APN
040-271-380
UPID
US09-2261282
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R40000 · Belmont, CA
Zoning R40000 · permitted uses
R40000 · Belmont, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Belmont. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1971
Heating
NONE
Stories
3
Units
198
Rooms
54
Bathrooms
3
Lot
4.71 ac
Current owner
From public records · entity-resolved
Prime Old County
Entity
Mailing address
600 MONTGOMERY ST STE #1700, SAN FRANCISCO, CA 94111-2719
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 22, 2009
$28,800,000
Prime Old County
Ppc Belomont Avf III LLC
Grant Deed
$23,090,000 · Cbre Multifamily Capital INC
Dec 19, 2005
$10,600,000
Ppc Belmont Avf III LLC
Normandy Square LLC
Grant Deed
$21,300,000 · California Savings Bank
Nov 17, 1997
—
Normandy Square Assoc LLC
Weinberg Trust
Trustees Deed
related
—
Mar 29, 1995
—
Weinberg Trust
Weinberg Trust
Quit Claim Deed
related
$4,400,000 · Home Savings Of America
Sep 13, 1994
—
Meister,greg & Kim
Weinbrg,morris
Trustees Deed
related
—
Jul 12, 1993
—
Greg Meister
Weinberg,m.
Grant Deed
related
—
—
—
Normandy Square Assoc LLC
—
Deed Of Trust
related
$5,300,000 · Bear Stearns Funding INC
—
—
Prime Old County LP
—
Deed Of Trust
related
$42,124,000 · Cbre Cap Markets
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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