
San Rafael, CA 94901
This High-Potential Investment Opportunity is a versatile Multi-Unit Residential Asset listed at $1,399,000, positioned slightly above the $1,359,941 Fair Market Value. While currently tenant-occupied, the property features a 3-unit configuration (3/1, 2/1, 1/1) with updated kitchens and a Condition Rating of 3. With 5 parking spaces, a spacious basement, and an expansive deck with mountain views, this property offers significant rental income potential. It serves as a stable, income-generating acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through supplemental rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 31 Valencia Avenue Subject | $1,399,000* List Price | 6 | 3 | 3,264 | $417 | - |
A 338 Paloma Avenue Sold | $1,100,000 | 4 | 3 | 2,400 | $458 | 0.7 mi |
B 338 Paloma Avenue Active | $1,195,000 List Price | 4 | 3 | 2,400 | $498 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1928, the property has undergone significant updates within the 5-15 year range. The kitchens feature stone countertops and updated cabinetry, and the hardwood floors are in well-maintained condition. The home is move-in ready and reflects consistent maintenance suitable for a multi-unit investment.
Configured as three separate income-producing units (3/1, 2/1, and 1/1), this property offers exceptional versatility for investors or owner-occupants seeking significant rental offsets.
The 1928 architecture features original hardwood floors and classic craftsmanship paired with updated kitchens and an expansive deck offering stunning mountain views.
Rare for a property of this vintage, the site includes five dedicated parking spaces and a spacious basement for storage, significantly increasing its functional appeal.
The property is currently fully tenant-occupied, which may complicate immediate owner-occupancy plans and requires careful coordination for showings and inspections.
Despite being well-maintained, the 1928 construction may necessitate ongoing maintenance of older infrastructure and systems compared to more modern residential builds.
Beautifully maintained 1928 property, where classic architectural details and warm hardwood floors blend seamlessly with thoughtful modern updates. Rich in character, the home showcases the craftsmanship and charm of a bygone era while offering today's comforts and conveniences. Currently configured with three income-producing units, this versatile property presents an exceptional opportunity for investors, owner-occupants, or multi-generational living. Each unit has been well cared for and features updated kitchens, creating an attractive and functional living environment for residents. The outdoor deck with an amazing view is an inviting space for relaxing, entertaining, or enjoying morning coffee, while the property's excellent condition reflects years of attentive maintenance. Whether you're seeking a strong investment, supplemental rental income, or a unique property with flexibility and historic charm, this rare offering delivers the best of both worlds. This property, currently tenant-occupied, has a 3-bedroom, 1-bath unit, a 2-bedroom, 1-bath unit, and a 1-bedroom, 1-bath unit. In addition, it has a spacious basement for storage, a separate laundry room, and 5 parking spaces. Close to shopping, schools, and public transportation. Well-maintained and currently occupied. Photos do not reflect tenants' belongings.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.6 |
| Baths | 3.0 | 2.6 |
| Square foot | 3,264 | 2,044.835 |
| Lot Size | 5,998 | 8,527.785 |
| Price | $1.40M | $1.70M |
| Price per sq ft | $429 | $812 |
| Built year | 1928 | 1958 |
| HOA | $0 | $278 |
| Days on market | 85 | 35 |
Jun 16, 2026
$1,399,000
Initial Listing
Jan 15, 1998
$390,000
Public Record