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Property profile & analytics
OFF-MARKET
Estimated value
$9,785,000
Apartment buildings
977 Laurel St, San Carlos, CA 94070-3933
Individually Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US09-2258700
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
2019
Total area
15,733 SF
Lot
0.14 ac (6,000 SF)
APN
051-358-270
UPID
US09-2258700
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
-
San Carlos IV Bar Medical Clinic
-
977 Laurel Street Real Estate Agency
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$9.54M
CAP Approach
CAP
$6.59M
Comparable Approach
Comparable
$9.90M
Blend (final)
Blend
$9.79M
Owner & transaction history
Remo E Canessa · 5 yrs held
Remo E Canessa
since 2021
Last sale
$9.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Retail stores
$11.7M
+62.7%
Restaurant
$10.6M
+48.5%
Office building
$10.1M
+40.9%
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
$11,615,000
ML approach
$9,540,000
CAP Approach
CAP Return
Estimation
6%
$7,135,000
6.5%
$6,590,000
7%
$6,115,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$7,160,000
Current use
RETAIL STORES
$11,650,000
Change: +63% · Conversion: Difficult
RESTAURANT
$10,640,000
Change: +49% · Conversion: Difficult
OFFICE BUILDING
$10,090,000
Change: +41% · Conversion: Moderate
NEIGHBORHOOD: SHOPPING CENTER
$8,490,000
Change: +19% · Conversion: Difficult
COMMERCIAL (GENERAL)
$7,270,000
Change: +2% · Conversion: Moderate
AUTO REPAIR, GARAGE
$7,145,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$9.79M
Range $8.81M – $10.76M · ±10% · vs last sale $9.85M (May 19 2021)
Last sale anchor
$9.85M
May 19 2021
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
$622 / 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
$122,292
Tax year 2024
Assessed value
$10,452,898
Assessed 2024
Previous assessed
$10,452,898
+0.0% YoY
Effective rate
1.17%
On assessed value
Assessed land
$3,077,503
Assessed improvement
$7,375,395
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
2019
Heating
NONE
Stories
4
Units
8
Rooms
13
Bathrooms
13
Total area
15,733 SF
Lot
0.14 ac (6,000 SF)
APN
051-358-270
UPID
US09-2258700
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
$7.2M
RETAIL STORES
Est. value
$11.7M
RESTAURANT
Est. value
$10.6M
OFFICE BUILDING
Est. value
$10.1M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$8.5M
COMMERCIAL (GENERAL)
Est. value
$7.3M
AUTO REPAIR, GARAGE
Est. value
$7.1M
APARTMENT HOUSE (5+ UNITS) Current
RETAIL STORES
RESTAURANT
OFFICE BUILDING
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
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
2019
Heating
NONE
Stories
4
Units
8
Rooms
13
Bathrooms
13
Lot
0.14 ac
Current owner
From public records · entity-resolved
Remo E Canessa
Individual
Free & Clear · 5 yrs held
Mailing address
292 ELEANOR DR, WOODSIDE, CA 94062-1116
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 19, 2021
$9,850,000
Remo E Canessa
West Oakwood LLC
Grant Deed
—
Apr 25, 2019
—
West Oakwood LLC
—
Deed
related
$4,600,000 · Avidbank
Jun 23, 2017
—
West Oakwood LLC
—
Trustees Deed
related
$4,605,000 · Avidbank
Jan 18, 2017
$2,550,000
West Oakwood LLC
Sc Dev Group LLC
Grant Deed
—
Oct 16, 2012
$1,128,000
Sc Dev Group LLC
Shum J K T & Amy Y Trust
Grant Deed
—
Jul 10, 2000
—
Shum Trust
Shum,james & Amy
Quit Claim Deed
related
—
Nov 14, 1997
—
Michele M Brazil
Brazil,richard
Quit Claim Deed
related
—
Nov 14, 1997
$275,000
Shum,james & Amy
Spano,robert P & Marlene M
Trustees Deed
related
$29,000 · Seller
Dec 21, 1989
—
Kim Jordan
Jordan,r.
Quit Claim Deed
related
—
Dec 21, 1989
$512,500
Spano,robert&mar
Daugusta,j/skalk
Trustees Deed
$310,000 · World Savings & Loan
—
—
West Oakwood LLC
—
Deed Of Trust
related
$4,600,000 · Avidbank
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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