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Property profile & analytics
OFF-MARKET
Estimated value
$1,940,000
Apartment buildings
813 Cowper St Palo Alto, CA 94301-2814
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US09-3032389
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1956
Construction
WOOD
Total area
6,282 SF
Lot
0.31 ac (13,500 SF)
Zoning code
RM3
APN
120-05-032
UPID
US09-3032389
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
$1.86M
CAP Approach
CAP
$1.84M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.94M
Owner & transaction history
Mccormack Properties LLC · 4 yrs held
Mccormack Properties LLC
since 2022
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
RM3 · Palo Alto, 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 Palo Alto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Palo Alto 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
$1,800,000
ML approach
$1,855,000
CAP Approach
CAP Return
Estimation
6%
$1,990,000
6.5%
$1,835,000
7%
$1,705,000
Blend value · Realmo final
$1.94M
Range $1.75M – $2.13M · ±10% · vs last sale $2.10M (Apr 28 2022)
Last sale anchor
$2.10M
Apr 28 2022
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
$309 / 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 2022Property tax & assessments
Tax year 2022
Assessed value
$5,712,000
Assessed 2023
Previous assessed
$2,813,546
+103.0% YoY
Assessed land
$4,131,000
Assessed improvement
$1,581,000
Applied tax rate
6.0000
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
1956
Construction
WOOD
Heating
NONE
Cooling
NONE
Stories
2
Units
8
Total area
6,282 SF
Lot
0.31 ac (13,500 SF)
Zoning code
RM3
APN
120-05-032
UPID
US09-3032389
Jurisdiction
SANTA CLARA
Zoning & alternative use
RM3 · Palo Alto, CA
Zoning RM3 · permitted uses
RM3 · Palo Alto, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Palo Alto. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1956
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
8
Lot
0.31 ac
Current owner
From public records · entity-resolved
Mccormack Properties LLC
Entity
Mailing address
698 BENVENUE AVE, LOS ALTOS, CA 94024-4013
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 28, 2022
—
Mccormack Properties LLC
William A Mecormack
Quit Claim Deed
related
$3,636,000 · Cbre Loan Services INC
Feb 23, 2016
—
The Mccormack Family Trust
William A Mccormack
Intrafamily Transfer
related
$2,870,000 · Mufg Union Bank NA
Jun 29, 2009
—
Mccormack William A & Marla L Tr
Mccormack,william A & Maria L
Quit Claim Deed
related
—
Mar 15, 2005
—
William A Mccormack
William A Mccormack
Intrafamily Transfer
related
$1,565,000 · Washington Mutual Bank
Oct 3, 2003
$2,100,000
William A Mccormack
Hills,edgar A & Barbara J
Grant Deed
$1,365,000 · Tamalpais Bank
Mar 9, 2000
—
Oconnor Trust
Oconnor Trust
Quit Claim Deed
related
—
Jul 21, 1998
—
Oconnor Trust
Oconnor,carolyn H
Quit Claim Deed
related
—
Jun 3, 1994
—
Carolyn H O'connor
Oconnor,thomas H
Quit Claim Deed
related
$550,000 · United Savings Bank
Dec 21, 1992
—
Edgar Hills
Hills Evelyn M T
Quit Claim Deed
related
—
Jul 30, 1990
$200,000
Hills Family Tru
Hills,e./bernhar
Grant Deed
related
—
Jun 14, 1990
$1,100,000
The Hills Family
Michaelene Knick
Grant Deed
$550,000 · 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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