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55 61 Park Road, Fairfax, CA 94930, Fairfax, 94930 - 3 bed, 4 bath

55 61 Park Road, Fairfax, CA 94930 home-pic-0
ACTIVE$2,500,000$4,716/sqft
Est. Value: $2,381,245
-4%
AboveEstimate
55 61 Park Road, Fairfax, CA 94930
3Beds
4Baths
4,716Sqft
20,700Lot

Price Vs. Estimate

The estimated value ($2,381,244.72) is $118,755.28 (4%) lower than the list price ($2,500,000). This property may be overpriced.

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 20700, living area = 4716.
Top Cons:
Age-Related Maintenance & Upgrades: Constructed in 1938, the property likely requires ongoing maintenance and potential significant investment for system upgrades (e.g., plumbing, electrical, roofing) across all units, beyond the noted kitchen update in one unit.

Compared to the nearby listings

Price:$2.50M vs avg $1.05M (+$1,451,000)97%
Size:4,716 sqft vs avg 1,466 sqft97%
Price/sqft:$530 vs avg $75227%

More Insights

Built in 1938 (88 years old).
Condition: This is a multi-unit compound built in 1938. While unit #57 features a recently updated kitchen with modern appliances, white shaker cabinets, and updated bathrooms with contemporary fixtures and tiling, other units within the compound are significantly dated. Images reveal kitchens with older wood cabinets, linoleum flooring, and appliances that appear 15-30+ years old, some even older with wood paneling. The overall property, despite some updates, shows its age and would likely require ongoing maintenance and system upgrades across multiple units, aligning with the 'Fair' condition criteria for properties built over 20 years ago with renovations between 15-30 years ago, or aged but maintained with outdated components.
Year Built
1938
Close
-
List price
$2.5M
Original List price
-
Price/Sqft
$530
HOA
$0
Days on market
-
Sold On
-
MLS number
325093261
Home ConditionFair
Features
Deck
Patio
View-

About this home

Just one block from vibrant Downtown Fairfax, 55-61 Park Road offers a rare opportunity to own a versatile five-unit compound on a sprawling 20,000+ sq. ft. lot. Ideal for investors or those seeking a multi-home retreat, this unique property includes three detached houses and a duplex, each with distinct character and income potential. An ideal owner's residence, #57, features 3BD/2BA, wide-plank oak floors, a spacious living room with fireplace, updated kitchen with skylight, dining area opening to a covered deck and an additional room. #55 is a 2BD/1.25BA charmer with hardwood floors, built-ins, fireplace, and classic period detail. The duplex at #61 includes a 2BD/1BA lower unit with private deck and a sunlit 3BD/1.5BA upper unit with covered deck and carport. A 1BD/1BA cottage with loft and garden patio completes the ensemble. With ample parking, inviting outdoor spaces, and flexible layouts, this exceptional property balances lifestyle and investment possibilities live in one, rent the rest, or create your own Fairfax compound.

R
Robin Corey
Listing Agent
Condition Rating
Fair
This is a multi-unit compound built in 1938. While unit #57 features a recently updated kitchen with modern appliances, white shaker cabinets, and updated bathrooms with contemporary fixtures and tiling, other units within the compound are significantly dated. Images reveal kitchens with older wood cabinets, linoleum flooring, and appliances that appear 15-30+ years old, some even older with wood paneling. The overall property, despite some updates, shows its age and would likely require ongoing maintenance and system upgrades across multiple units, aligning with the 'Fair' condition criteria for properties built over 20 years ago with renovations between 15-30 years ago, or aged but maintained with outdated components.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 20700, living area = 4716.
High Income & Lifestyle Versatility: A unique five-unit compound (three detached homes, a duplex, and a cottage) provides exceptional rental income potential or flexible multi-generational living options.
Premier Downtown Location: Unbeatable proximity, just one block from vibrant Downtown Fairfax, offering unparalleled walkability to local amenities, dining, and entertainment.
Generous Lot Size: An expansive 20,000+ sq. ft. lot provides significant outdoor space, privacy, and potential for future landscaping or development.
Quality Owner's Residence: Unit #57 stands out with 3BD/2BA, wide-plank oak floors, a fireplace, and an updated kitchen, offering a premium living experience for an owner-occupant.
Abundant Parking & Outdoor Amenities: The property boasts ample parking and inviting outdoor spaces, enhancing convenience and quality of life for residents across all units.

Cons

Age-Related Maintenance & Upgrades: Constructed in 1938, the property likely requires ongoing maintenance and potential significant investment for system upgrades (e.g., plumbing, electrical, roofing) across all units, beyond the noted kitchen update in one unit.
Complex Property Management: Operating a five-unit compound demands considerable time and expertise in property management, including tenant relations, maintenance coordination, and legal compliance.
Zoning/Classification Ambiguity: Listed as a 'Single Family Residence' despite being a 'five-unit compound,' this classification discrepancy could present challenges with financing, insurance, or local zoning regulations, necessitating thorough investigation.
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