217 Madison Avenue, Redwood City, California 94061, Redwood City, 94061 - 0 bed, 0 bath
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Redwood City, California 94061
This Versatile Residential Income Triplex represents a High-Potential Investment Opportunity, listed at $1,750,000—positioned well below the $1,830,522 Fair Market Value by 4%. This valuation gap secures $80,522 in Instant Equity for the buyer. Currently holding a Functional Condition Rating, the asset features a 4-bedroom main unit and two 2-bedroom units served by the Redwood City Elementary School District. With City Light Views, a 3-Car Garage, and proximity to Sequoia Station, it offers significant rental upside. This is an ideal acquisition for Owner-Occupants or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 217 Madison Avenue Subject | $1,750,000* List Price | 0 | 0 | 3,783 | $484 | - |
A 1148 Saint Francis Street Sold | $1,315,000 | 0 | 0 | 2,410 | $546 | 0.9 mi |
B 220 Madison Avenue Active Under Contract | $2,098,000 List Price | 0 | 0 | 3,732 | $562 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1969, this triplex is in functional condition but shows significant signs of age and dated finishes. While kitchens and bathrooms have received partial updates such as stone countertops and oak-style cabinetry (likely 15-20 years ago), the property retains popcorn ceilings, older white appliances, and dated gold-framed shower doors. The building systems are original or aged, and the overall interior aesthetic requires modernization to meet current market standards for an 'excellent' or 'good' rating.
This triplex features a large 4-bedroom owner's unit and two 2-bedroom units, offering exceptional versatility for house-hacking or a pure investment strategy with multiple revenue streams.
Ideally situated near Sequoia Station, Whole Foods, and Downtown Redwood City, the property boasts high walkability and excellent access to public transit, ensuring strong tenant demand.
The property includes a rare three-car garage with automatic doors and on-site coin-operated laundry, providing significant convenience and value-add for both residents and the landlord.
Constructed in 1969, the property may require upcoming capital improvements or modernization to its original infrastructure to maintain competitive market rental rates.
With a substantial 3,783 square foot building footprint on a 5,200 square foot lot, there is minimal yard or private outdoor space available for the three separate households.
Welcome to this spacious 3,783 square foot, approx. 3 Unit home located in the vibrant city of Redwood City. This property boasts 4 Br 3 Ba ground floor unit plus 2 x 2Br. Units with well designed kitchens complete with ample space for meal preparation and entertaining. The Property features comfortable family style rooms with space for everyone, adding warmth and charm to the living area. Thoughtfully laid out, this multi-family home is designed to complement any life style. With 3 Garages and a coin op laundry to please everyone. Well Located and Conveniently near to Starbucks, Whole Foods, Sequoia Station Train and Bus, Downtown Restaurants and occasional Lively Entertainment at Courthouse Square! Additional amenities include forced air gas heaters, insuring comfort during the cooler months. And the separate 3 car garage features automatic garage doors. These three homes are served by the Redwood City Elementary School District. Make your residence in one unit and enjoy the Benefit of monthly Rental Income from the other two Units! Don't miss the opportunity to explore this versatile Income Property in Redwood City, offering a blend of comfort, space, and practicality in a very good Location. A great Starter Investment!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,783 | 3,096.5 | 50% |
| Lot Size | 5,200 | 4,763 | 50% |
| Price | $1.75M | $1.53M | 50% |
| Price per sq ft | $463 | $504 | 50% |
| Built year | 1969 | 1946 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 43 | 150 | 50% |
Mar 10, 2026
$1,750,000
Initial Listing
Apr 17, 2013
$860,000
Public Record
Feb 1, 2005
$850,000
Public Record
Apr 25, 2003
$730,000
Public Record