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 is a High-Potential Investment Opportunity listed at $1,150,000—positioned well below the $1,281,636 Fair Market Value by 10%. This valuation gap offers $131,636 in Instant Equity. The property features a Move-In Ready Condition Rating with major infrastructure upgrades to electrical and plumbing systems. With the upper unit delivered vacant and featuring hillside views and private decks, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack near Downtown San Rafael and the SMART Train.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 46 Martens Boulevard Subject | $1,150,000* List Price | 5 | 3 | 2,218 | $578 | - |
A 32 Knight Drive Sold | $1,160,000 | 3 | 2 | 1,772 | $655 | 0.5 mi |
B 83 Cottonwood Drive Sold | $1,475,000 | 3 | 2 | 2,196 | $672 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
This 1915 duplex is in well-maintained, move-in ready condition. While the kitchen and bathrooms feature styles from a previous renovation (approximately 10-15 years ago), they are clean and fully functional. The property has received significant infrastructure upgrades, including new electrical panels, plumbing, drainage, and dual-pane windows, which offsets the age of the structure and interior finishes.
This well-maintained duplex offers a rare opportunity for owner-occupants to live in the vacant upper unit while generating rental income from the lower unit, or for investors to maximize returns in a high-demand rental market.
Ideally situated in Picnic Valley, the property is just steps away from Downtown San Rafael’s dining and shopping, the SMART Train, and major freeway access, making it highly attractive for commuters.
The property features critical capital improvements including new main electrical panels, retaining walls, plumbing, and drainage, significantly reducing the immediate risk of high-cost maintenance issues.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6451, other record lot size in square feet = 9800. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2218, other record living area = 2119. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 3.
Built in 1915, the age of the structure may necessitate ongoing specialized maintenance and potential updates to meet modern aesthetic preferences despite recent infrastructure improvements.
The assigned public schools carry average ratings (5-6), which may be a drawback for families specifically seeking the top-tier educational performance often associated with other Marin County neighborhoods.
Located in the sought-after Picnic Valley neighborhood, 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.
Grades K-5 • 0.7 mi
Grades 6-8 • 2.8 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 5.0 | 3.0 | 86% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,218 | 2,007 | 60% |
| Lot Size | 6,451 | 8,324 | 31% |
| Price | $1.15M | $1.36M | 37% |
| Price per sq ft | $518 | $662 | 24% |
| Built year | 1915 | 1955 | 11% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 203 | 1% |
Mar 26, 2026
$1,150,000
Initial Listing
May 31, 2024
$2,400,000
Public Record
May 14, 2010
$787,000
Public Record
May 1, 2000
$570,000
Public Record