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Property profile & analytics
OFF-MARKET
Estimated value
$6,025,000
Apartment buildings
970 Magnolia Ave Millbrae, CA 94030-1946
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1664062
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1950
Total area
11,816 SF
Lot
0.36 ac (15,814 SF)
APN
021-362-120
UPID
US09-1664062
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
$6.90M
CAP Approach
CAP
$4.95M
Comparable Approach
Comparable
$5.22M
Blend (final)
Blend
$6.03M
Owner & transaction history
Santiago Benito LLC · 2 yrs held
Santiago Benito LLC
since 2023
Last sale
$6.1M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$8.0M
+104.3%
Office building
$7.6M
+93.8%
Neighborhood: shopping center
$6.4M
+63.1%
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 Millbrae submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Millbrae 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
$6,975,000
ML approach
$6,900,000
CAP Approach
CAP Return
Estimation
6%
$5,360,000
6.5%
$4,950,000
7%
$4,595,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$3,910,000
Current use
RESTAURANT
$7,990,000
Change: +104% · Conversion: Difficult
OFFICE BUILDING
$7,580,000
Change: +94% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$6,375,000
Change: +63% · Conversion: Difficult
RETAIL STORES
$6,010,000
Change: +54% · Conversion: Difficult
COMMERCIAL (GENERAL)
$5,460,000
Change: +40% · Conversion: Moderate
AUTO REPAIR, GARAGE
$5,370,000
Change: +37% · Conversion: Difficult
WAREHOUSE, STORAGE
$4,520,000
Change: +16% · Conversion: Difficult
Blend value · Realmo final
$6.03M
Range $5.42M – $6.63M · ±10% · vs last sale $6.06M (Aug 25 2023)
Last sale anchor
$6.06M
Aug 25 2023
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
$510 / 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
$84,086
Tax year 2024
Assessed value
$6,055,000
Assessed 2024
Previous assessed
$6,055,000
+0.0% YoY
Effective rate
1.39%
On assessed value
Assessed land
$4,100,000
Assessed improvement
$1,955,000
Applied tax rate
14.0000
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
1950
Heating
NONE
Stories
3
Units
12
Rooms
60
Bathrooms
12
Total area
11,816 SF
Lot
0.36 ac (15,814 SF)
APN
021-362-120
UPID
US09-1664062
Jurisdiction
SAN MATEO
Metro division
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, 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
$3.9M
RESTAURANT
Est. value
$8.0M
OFFICE BUILDING
Est. value
$7.6M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$6.4M
RETAIL STORES
Est. value
$6.0M
COMMERCIAL (GENERAL)
Est. value
$5.5M
AUTO REPAIR, GARAGE
Est. value
$5.4M
WAREHOUSE, STORAGE
Est. value
$4.5M
APARTMENT HOUSE (5+ UNITS) Current
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
RETAIL STORES
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
1950
Heating
NONE
Stories
3
Units
12
Rooms
60
Bathrooms
12
Lot
0.36 ac
Current owner
From public records · entity-resolved
Santiago Benito LLC
Entity
Mailing address
100 STONEPINE RD, HILLSBOROUGH, CA 94010-6572
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
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 30, 2025
—
Santiago Benito LLC
—
Deed
related
$1,875,000 · Provident Cu
Aug 25, 2023
$6,055,000
Santiago Benito LLC
Armanino Family Partnership LP
Grant Deed
$1,855,000 · Armanino Family Partnership LP
May 10, 2022
—
970 Magnolia LLC
Mary Ann Warren
Intrafamily Transfer
related
—
Feb 23, 2022
—
Mary Ann Warren
Mary Ann Warren
Correction Deed
related
—
Jan 27, 2021
—
Mary A Warren
Warren Helen M 1985 Trust
Quit Claim Deed
related
—
Oct 8, 2020
—
Warren,helen M 1985 Trust
Helen M Warren
Affidavit Of Death
related
—
Dec 31, 2018
—
Helen M Warren
—
Deed
related
$209,300 · Wells Fargo Bank NA
Jul 22, 2004
—
Armanino Family Partnership LP
Armanino,tr
Quit Claim Deed
related
—
—
—
Armanino Trust
—
Deed Of Trust
related
$200,000 · Peninsula Bank Of Commerce
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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