46 Martens Boulevard, San Rafael, CA 94901, San Rafael, 94901 - 5 bed, 3 bath
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San Rafael, CA 94901
This well-maintained duplex represents a Strong Value Opportunity, listed at $1,099,000—positioned well below the $1,207,919 Fair Market Value by 9%. This valuation gap offers $108,919 in Instant Equity. Featuring a Condition Rating of 3, the property includes major infrastructure upgrades and scenic hillside views. This "Single Family Alternative" is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to offset mortgage costs through rental income in a prime, walkable downtown location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 46 Martens Boulevard Subject | $1,099,000* List Price | 5 | 3 | 2,218 | $545 | - |
A 1422 Nye Street Sold | $1,363,000 | 5 | 3 | 2,180 | $625 | 0.8 mi |
B 501 5th Avenue Sold | $1,127,000 | 4 | 2 | 2,001 | $563 | 0.8 mi |
C 338 Paloma Avenue Sold | $1,100,000 | 4 | 3 | 2,400 | $458 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Despite the 1915 build date, the property is well-maintained with major system upgrades including new electrical panels, plumbing, and drainage. Interior images show a functional kitchen with 10-15 year old cabinetry, updated flooring, and dual-pane windows, making it move-in ready.
This well-maintained duplex offers a rare 'Single Family Alternative' opportunity, allowing an owner-occupant to live in the vacant upper unit while generating rental income from the lower unit to offset the mortgage.
Boasting exceptional walkability, the property is situated just steps from Downtown San Rafael’s dining, shopping, the SMART Train, and transit hubs, ensuring high demand and convenience.
The property features major recent upgrades including new main electrical panels, plumbing, drainage, and retaining walls, significantly reducing the immediate need for costly infrastructure repairs.
Built in 1915, the property may require the ongoing specialized care and maintenance typical of century-old structures, which can be more demanding than newer builds.
The lower unit is currently occupied and was not pictured in the listing, which may limit immediate full-property access for buyers and requires navigating existing tenant rights.
Single Family Home Alternative asking $495/sqft! This well-maintained duplex presents a rare opportunity for both investors and owner-occupants. Upper Unit #46 (delivered vacant) offers 2 bedrooms plus possible 3rd bedroom and office/sunroom, 1.5 bathrooms, private deck, two driveway parking spaces and detached garage. Light-filled floor plan with dual-pane windows and Downtown San Rafael and hillside views. Lower Unit #44 (not pictured) features 2 bedrooms, 1 bathroom, stainless steel appliances, expansive deck and yard space, two dedicated parking spaces, and similar views. Each unit includes its own washer/dryer and additional storage. Major upgrades include new main electrical panels, retaining walls, plumbing, drainage and more. Prime location just steps to Downtown San Rafael dining, shops, farmers market, SMART Train, transit and easy freeway access.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 4.0 | 82% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,218 | 2,197.5 | 51% |
| Lot Size | 6,451 | 8,287 | 32% |
| Price | $1.10M | $1.39M | 29% |
| Price per sq ft | $495 | $648 | 21% |
| Built year | 1915 | 1955 | 12% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 188 | 1% |
May 20, 2026
$1,099,000
Initial Listing