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Property profile & analytics
OFF-MARKET
Estimated value
$865,000
Apartment buildings
728 Elm St 207, San Carlos, CA 94070-3084
Individually Owned
5-yr Hold
Free & Clear
Property ID
US10-2073366
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1966
Total area
1,010 SF
Lot
0.03 ac (1,175 SF)
Zoning code
R30000
APN
140-660-070
UPID
US10-2073366
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
-
Lost Roots Family History Genealogist
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$895k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$865k
Owner & transaction history
Steven M Bailey · 5 yrs held
Steven M Bailey
since 2021
Last sale
$853,000
4 recorded transactions
Zoning & alternative use
R30000 · San Carlos, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$750,000
+62.7%
Office building
$650,000
+40.9%
Neighborhood: shopping center
$545,000
+18.5%
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 Carlos submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs San Carlos 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
$865,000
ML approach
$895,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RETAIL STORES
$750,000
Change: +63% · Conversion: Difficult
OFFICE BUILDING
$650,000
Change: +41% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$545,000
Change: +19% · Conversion: Difficult
Blend value · Realmo final
$865k
Range $779k – $952k · ±10% · vs last sale $853k (Feb 20 2025)
Last sale anchor
$853k
Feb 20 2025
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
$856 / 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
$4,844
Tax year 2024
Assessed value
$295,839
Assessed 2024
Previous assessed
$295,839
+0.0% YoY
Effective rate
1.64%
On assessed value
Assessed land
$78,402
Assessed improvement
$217,437
Applied tax rate
11.0000
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
1966
Heating
NONE
Stories
1
Units
24
Rooms
4
Bathrooms
2
Total area
1,010 SF
Lot
0.03 ac (1,175 SF)
Zoning code
R30000
APN
140-660-070
UPID
US10-2073366
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLITAN DIVISION
Zoning & alternative use
R30000 · San Carlos, CA
Zoning R30000 · permitted uses
R30000 · San Carlos, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
San Carlos. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$750,000
OFFICE BUILDING
Est. value
$650,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$545,000
RETAIL STORES
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
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
1966
Heating
NONE
Stories
1
Units
24
Rooms
4
Bathrooms
2
Lot
0.03 ac
Current owner
From public records · entity-resolved
Steven M Bailey
Individual
Free & Clear · 5 yrs held
Mailing address
728 ELM ST APT #207, SAN CARLOS, CA 94070-3084
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2021
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
Feb 24, 2021
—
Steven M Bailey
Elm Terrace Association
Grant Deed
—
Feb 1, 1994
$13,000
Steven M Bailey
Bailey,john D &
Grant Deed
related
—
Dec 31, 1993
$13,000
Steven Bailey
Bailey,steven M
Grant Deed
related
—
Jul 28, 1989
$172,000
Steven Ba Bailey
Duffy,r./healy,e
Grant Deed
$138,000 · Shearson Lehman Hutton Mtg Co
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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