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 Strong Value Opportunity, listed at $1,750,000—positioned well below the $1,830,522 Fair Market Value by 4%. This valuation gap provides $80,522 in Instant Equity for the incoming owner. While maintaining a functional Condition Rating of 4, the property features a massive 4-bedroom primary unit and two 2-bedroom units within walking distance to Sequoia Station and Whole Foods. Boasting a City Lights View and detached garages, this asset offers significant rental upside in a high-demand transit corridor. It is an ideal acquisition for Owner-Occupants seeking mortgage offsets 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 | $439 | - |
A 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 shows signs of partial renovations likely completed 15-25 years ago, including oak cabinetry and stone countertops. While functional and currently occupied, the property is dated with popcorn ceilings, older flooring, and mid-range appliances, requiring cosmetic updates to meet modern standards.
The triplex configuration, featuring a large 4-bedroom primary unit and two 2-bedroom units, offers an ideal opportunity for an owner-occupant to offset their mortgage with rental income or for an investor to maximize yield.
Situated within walking distance to Sequoia Station, Whole Foods, and Downtown Redwood City, the property benefits from high tenant demand due to its proximity to major transit hubs, dining, and shopping.
The inclusion of a separate three-car garage with automatic doors and on-site coin-operated laundry provides essential conveniences that enhance tenant retention and provide additional utility for the owner.
Built in 1969, the property may require significant capital expenditures for modernizing systems beyond the existing forced air gas heaters, as it likely lacks contemporary energy-efficient features or central cooling.
With nearly 3,800 square feet of living space on a 5,200 square foot lot, the property has a high building-to-land ratio, resulting in very limited private or shared outdoor space for residents.
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 Versatile/flexible ground unit floorplan plus 2 x 2Br. Units with well designed kitchens complete with ample space for meal preparation and entertaining. The Property features comfortable room layouts providing private space for everyone; gives warmth to the living area. Spacious with Large Rooms, this multi-family home is designed to complement any life style. With 3 Garages and a Coin-Op Laundry benefiting 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. Solar on the roof. And the separate 3 car garage features automatic garage doors. Live in one unit and enjoy the Benefit of monthly Rental Income from the other Units! Don't miss the opportunity to explore this Income Property in Redwood City, offering a blend of comfort, space, and practicality in a very Convenient Location. This is a good Producer and makes a Great Starter Investment!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,783 | 2,590 |
| Lot Size | 5,200 | 8,986.5 |
| Price | $1.75M | $1.79M |
| Price per sq ft | $463 | $755 |
| Built year | 1969 | 1954 |
| HOA | $0 | $0 |
| Days on market | 134 | 65 |
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