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Property profile & analytics
FOR LEASE
Apartment buildings
1325 40Th St Emeryville, CA 94608
Entity Owned
8-yr Hold
~
Est. High Equity
Property ID
US09-6609569
For Lease
1 / 2
$18,405,000
1325 40Th St, Emeryville, CA 94608
View Listing →
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1998
Construction
WOOD
Total area
107,464 SF
Lot
1.93 ac (84,174 SF)
APN
49-619-1
UPID
US09-6609569
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
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$18.41M
Owner & transaction history
Housing Corp Of America · 8 yrs held
Housing Corp Of America
since 2018
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$27.4M
+43.8%
Office building
$25.9M
+36.1%
Retail stores
$25.6M
+34.3%
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 Emeryville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Emeryville 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
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$19,030,000
Current use
INDUSTRIAL (GENERAL)
$27,365,000
Change: +44% · Conversion: Difficult
OFFICE BUILDING
$25,895,000
Change: +36% · Conversion: Moderate
RETAIL STORES
$25,555,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$18.41M
Range $16.56M – $20.25M · ±10%
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
$171 / 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
$395,595
Tax year 2023
Assessed value
$48,934,111
Assessed 2024
Previous assessed
$48,706,024
+0.5% YoY
Effective rate
0.81%
On assessed value
Assessed land
$9,559,835
Assessed improvement
$39,374,276
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
For Lease
Year built
1998
Construction
WOOD
Heating
NONE
Buildings
3
Stories
4
Units
113
Rooms
398
Bathrooms
169
Total area
107,464 SF
Lot
1.93 ac (84,174 SF)
APN
49-619-1
UPID
US09-6609569
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
$19.0M
INDUSTRIAL (GENERAL)
Est. value
$27.4M
OFFICE BUILDING
Est. value
$25.9M
RETAIL STORES
Est. value
$25.6M
APARTMENT HOUSE (5+ UNITS) Current
INDUSTRIAL (GENERAL)
OFFICE BUILDING
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
1998
Construction
WOOD
Heating
NONE
Stories
4
Buildings
3
Units
113
Rooms
398
Bathrooms
169
Lot
1.93 ac
Current owner
From public records · entity-resolved
Housing Corp Of America
Entity
Mailing address
6222 WILSHIRE BLVD STE #400, LOS ANGELES, CA 90048-5100
Ownership since
2018
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
Feb 13, 2018
—
Housing Corp Of America
Crp-tbg Bridgecourt Apartments
Quit Claim Deed
—
Feb 13, 2018
$87,400,000
Dp Emeryville 40th Street Invt
Housing Corp Of America
Grant Deed
$56,354,000 · Walker & Dunlop
Mar 18, 2015
$451,463,636
Crp-tbg Bridgecourt Apartments
Pac Residential Group INC
Grant Deed
$40,600,000 · California Bk&tr
Feb 25, 2013
—
Pac Residential Group INC
—
Deed Of Trust
related
$12,718,000 · Pnc Bank
Aug 20, 1996
$920,000
Catellus Residential Group
Catellus Dev Corp
Grant Deed
related
—
—
—
Catellus Residential Group INC
—
Deed Of Trust
related
—
—
—
Baybridge Partners LP East
—
Deed Of Trust
related
$12,718,000 · Pnc Bank
—
—
Catellus Development Corp
—
Deed Of Trust
related
$3,500,000 · Redevelopment Agency Emeryvill
—
—
Baybridge Partners LP East
—
Deed Of Trust
related
$16,470,000 · Arcs Commercial Mortgage Co LP
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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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