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Property profile & analytics
OFF-MARKET
Estimated value
$3,840,000
Apartment buildings
968 Addison St Berkeley, CA 94710-2050
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US09-6751347
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1943
Construction
WOOD
Total area
11,480 SF
Lot
0.46 ac (20,000 SF)
APN
56-1971-5-1
UPID
US09-6751347
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
$3.76M
CAP Approach
CAP
$3.51M
Comparable Approach
Comparable
$5.10M
Blend (final)
Blend
$3.84M
Owner & transaction history
Romax 2 LLC · 6 yrs held
Romax 2 LLC
since 2020
Last sale
$4.0M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$6.2M
+68.5%
Medical building
$6.1M
+67.3%
Restaurant
$5.8M
+57.4%
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 Berkeley submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Berkeley 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
$3,845,000
ML approach
$3,755,000
CAP Approach
CAP Return
Estimation
6%
$3,805,000
6.5%
$3,510,000
7%
$3,260,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,670,000
Current use
INDUSTRIAL (GENERAL)
$6,185,000
Change: +69% · Conversion: Difficult
MEDICAL BUILDING
$6,140,000
Change: +67% · Conversion: Moderate
RESTAURANT
$5,780,000
Change: +57% · Conversion: Difficult
OFFICE BUILDING
$5,540,000
Change: +51% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$4,875,000
Change: +33% · Conversion: Difficult
RETAIL STORES
$4,150,000
Change: +13% · Conversion: Difficult
Blend value · Realmo final
$3.84M
Range $3.46M – $4.22M · ±10% · vs last sale $4.04M (Jan 22 2020)
Last sale anchor
$4.04M
Jan 22 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
$334 / 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 2023Property tax & assessments
Tax year 2023
Tax billed
$71,517
Tax year 2023
Assessed value
$4,321,997
Assessed 2024
Previous assessed
$4,237,266
+2.0% YoY
Effective rate
1.65%
On assessed value
Assessed land
$1,608,285
Assessed improvement
$2,713,712
Applied tax rate
13.0000
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
1943
Construction
WOOD
Heating
NONE
Buildings
4
Stories
2
Units
18
Rooms
56
Bathrooms
18
Total area
11,480 SF
Lot
0.46 ac (20,000 SF)
APN
56-1971-5-1
UPID
US09-6751347
Jurisdiction
ALAMEDA
Metro division
OAKLAND-FREMONT-HAYWARD, 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
$3.7M
INDUSTRIAL (GENERAL)
Est. value
$6.2M
MEDICAL BUILDING
Est. value
$6.1M
RESTAURANT
Est. value
$5.8M
OFFICE BUILDING
Est. value
$5.5M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$4.9M
RETAIL STORES
Est. value
$4.2M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
MEDICAL BUILDING
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
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
1943
Construction
WOOD
Heating
NONE
Stories
2
Buildings
4
Units
18
Rooms
56
Bathrooms
18
Lot
0.46 ac
Current owner
From public records · entity-resolved
Romax 2 LLC
Entity
Mailing address
205 DE ANZA BLVD, SAN MATEO, CA 94402-3989
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
10 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 22, 2020
$4,040,000
Romax 2 LLC
Emc Sacre LLC
Grant Deed
$2,626,000 · First Republic Bank
Jan 12, 2017
—
Emc Sacre LLC
—
Deed
related
$2,400,000 · Luther Burbank Svgs
Jul 2, 2015
$2,535,000
Emc Sacre LLC
Addison Apartments LLC
Grant Deed
$1,730,000 · Jpmorgan Chase Bank NA
Jan 29, 2009
$1,565,000
Addison Apartments LLC
Brown,joan C
Grant Deed
—
Mar 9, 2004
—
Joan C Brown
Brown,joan C
Quit Claim Deed
related
$525,000 · Washington Mutual Fsb
May 16, 1997
—
Joan A Brown
Brown,joan A
Quit Claim Deed
related
$120,000 · Individual
Sep 5, 1995
—
Joan A Brown
Brown,fred A
Quit Claim Deed
related
—
—
—
Emc Sacre LLC
—
Deed Of Trust
related
$2,400,000 · Luther Burbank Svgs
—
—
Joan A Brown
—
Deed Of Trust
related
$300,000 · Sonoma National Bank
—
—
Joan A Brown
—
Deed Of Trust
related
$85,000 · Mc Financial Services 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.
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