Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$2,755,000
Apartment buildings
655 Delaware St San Mateo, CA 94401-1770
Entity Owned
3-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-1664712
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
11,024 SF
Lot
0.39 ac (16,898 SF)
Zoning code
R30000
APN
032-167-370
UPID
US09-1664712
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
$3.83M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.76M
Owner & transaction history
Delaware 11 LLC · 3 yrs held
Delaware 11 LLC
since 2023
4 recorded transactions
Zoning & alternative use
R30000 · San Mateo, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Warehouse, storage
$4.2M
+13.2%
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 San Mateo submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Mateo 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%
$4,145,000
6.5%
$3,830,000
7%
$3,555,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,730,000
Current use
WAREHOUSE, STORAGE
$4,220,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$2.76M
Range $2.48M – $3.03M · ±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
$250 / 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
$74,294
Tax year 2024
Assessed value
$4,462,500
Assessed 2024
Previous assessed
$4,462,500
+0.0% YoY
Effective rate
1.66%
On assessed value
Assessed land
$3,264,000
Assessed improvement
$1,198,500
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
1980
Heating
NONE
Stories
2
Units
12
Rooms
36
Bathrooms
11
Total area
11,024 SF
Lot
0.39 ac (16,898 SF)
Zoning code
R30000
APN
032-167-370
UPID
US09-1664712
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R30000 · San Mateo, CA
Zoning R30000 · permitted uses
R30000 · San Mateo, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Mateo. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$3.7M
WAREHOUSE, STORAGE
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS) Current
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
1980
Heating
NONE
Stories
2
Units
12
Rooms
36
Bathrooms
11
Lot
0.39 ac
Current owner
From public records · entity-resolved
Delaware 11 LLC
Entity
Free & Clear · 3 yrs held
Mailing address
20725 VLY GRN DR STE #100, CUPERTINO, CA 95014-1764
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
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 2, 2024
—
Delaware 11 LLC
—
Deed
related
$5,250,000 · Tellus App INC
Feb 22, 2024
—
Delaware 11 LLC
—
Deed
related
$2,260,000 · Sofi Bank NA
Mar 6, 2023
—
Delaware 11 LLC
Bacx LLC
Grant Deed
—
Feb 24, 2023
$4,375,000
Bacx LLC
Robert A Palmisano
Grant Deed
$3,500,000 · Tellus App INC
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.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 655 Delaware St?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
