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523 B Street, San Rafael, CA 94901, San Rafael, 94901 - 7 bed, 4 bath

523 B Street, San Rafael, CA 94901 home-pic-0
ACTIVE$1,885,000$2,707/sqft
Est. Value: $1,558,069
-17%
AboveEstimate
523 B Street, San Rafael, CA 94901
7Beds
4Baths
2,707Sqft
5,001Lot

Price Vs. Estimate

The estimated value ($1,558,069.375) is $326,930.625 (17%) lower than the list price ($1,885,000). This property may be overpriced.

Key pros and cons

Top Pros:
Great Schools: Middle School: Ross Elementary School (9/10).
Top Cons:
Age of Core Structure: Despite extensive renovations, the property's original build year of 1928 means the underlying structural components and potentially some older systems (e.g., original plumbing lines, foundation) may still require consideration for long-term maintenance.

Compared to the nearby listings

Price:$1.89M vs avg $1.40M (+$485,500)81%
Size:2,707 sqft vs avg 2,091 sqft76%
Price/sqft:$696 vs avg $73946%

More Insights

Built in 1928 (98 years old).
Condition: Despite the 1928 build year, the property has been extensively and recently renovated, as confirmed by the listing description and images. All three units feature brand-new kitchens with sleek gray shaker cabinetry, contemporary white countertops, and new stainless steel appliances. Bathrooms are stylishly updated with new vanities, modern fixtures, and new tiled showers or tub surrounds. Flooring is a mix of new luxury vinyl plank, new carpet, and what appears to be refinished hardwood. The property also boasts a new roof and gutters, indicating a comprehensive update. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Year Built
1928
Close
-
List price
$1.89M
Original List price
-
Price/Sqft
$696
HOA
$0
Days on market
-
Sold On
-
MLS number
325061935
Home ConditionExcellent
Features
Patio
View-

About this home

Situated in the charming and sought-after Gerstle Park neighborhood of San Rafael, this fully remodeled triplex presents a rare opportunity in the heart of Marin County. Offering excellent versatility for both owner-occupiers and investors, the property features one spacious 3BR/2BA unit and two well-appointed 2BR/1BA unitseach thoughtfully upgraded with modern finishes and conveniences. All three units have been extensively renovated, including brand-new kitchens with sleek cabinetry, contemporary countertops, and new appliances. Bathrooms have been stylishly updated with new vanities, tiled showers or tubs, and upgraded fixtures. Each unit showcases a blend of luxury vinyl plank flooring and new carpet along with its own designated laundry machines. Additional highlights include carport parking, extra storage, and separate meters for gas, electric, and waterideal for ease of management and utility control. A brand-new roof and gutters complete this turnkey property, all set in a prime location just blocks from downtown San Rafael. This rarely available triplex offers a unique opportunity to create a family compound, live in one unit while generating income from the others, or invest in a high potential cash flowing property.

S
Steven Level
Listing Agent

Nearby schools

7/10
Laurel Dell Elementary School
Public,•K-5•0.4mi
8/10
Sun Valley Elementary School
Public,•K-5•1.6mi
5/10
James B. Davidson Middle School
Public,•6-8•0.3mi
9/10
Ross Elementary School
Public,•K-8•1.5mi
5/10
San Rafael High School
Public,•9-12•0.9mi
8/10
Redwood High School
Public,•9-12•2.1mi
6/10
Terra Linda High School
Public,•9-12•2.4mi

Price History

Date
Event
Price
02/20/98
Sold
$474,000
04/24/24
Sold
$1,125,000
Condition Rating
Excellent
Despite the 1928 build year, the property has been extensively and recently renovated, as confirmed by the listing description and images. All three units feature brand-new kitchens with sleek gray shaker cabinetry, contemporary white countertops, and new stainless steel appliances. Bathrooms are stylishly updated with new vanities, modern fixtures, and new tiled showers or tub surrounds. Flooring is a mix of new luxury vinyl plank, new carpet, and what appears to be refinished hardwood. The property also boasts a new roof and gutters, indicating a comprehensive update. All components appear new or virtually new, meeting current quality standards with no deferred maintenance.
Pros & Cons

Pros

Great Schools: Middle School: Ross Elementary School (9/10).
Prime Location & Desirable Neighborhood: Situated in the highly sought-after Gerstle Park neighborhood of San Rafael, Marin County, just blocks from downtown, offering strong demand and appreciation potential.
Extensive & Modern Renovation: The property is fully remodeled and turnkey, featuring brand-new kitchens with sleek cabinetry and new appliances, stylishly updated bathrooms, new flooring, and a new roof and gutters, minimizing immediate capital expenditures for the buyer.
Versatile Income-Generating Triplex: Comprising one 3BR/2BA unit and two 2BR/1BA units, this triplex offers excellent versatility for owner-occupancy with rental income, a family compound, or a pure investment property, enhanced by separate utility meters for ease of management.
Tenant-Friendly Amenities: Each unit includes designated laundry machines, and the property provides carport parking and extra storage, significantly enhancing tenant appeal and convenience.
Strong Investment Potential: Positioned in a high-demand Marin County market, this property is explicitly described as a 'high potential cash flowing property,' appealing to a broad range of investors and owner-occupiers.

Cons

Age of Core Structure: Despite extensive renovations, the property's original build year of 1928 means the underlying structural components and potentially some older systems (e.g., original plumbing lines, foundation) may still require consideration for long-term maintenance.
Significant Price Appreciation in Short Period: The current list price of $1.885M represents a substantial increase from its last recorded sale of $1.125M in April 2024, which may require thorough justification to potential buyers regarding current market value and future equity growth.
Lack of Explicitly Mentioned Private Outdoor Space: The property description does not highlight dedicated private outdoor living areas or yards for individual units, which could be a drawback for tenants or owner-occupiers seeking such amenities.
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