728 Elm 205, San Carlos, California 94070, San Carlos, 94070 - 2 bed, 2 bath
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728 Elm 205
San Carlos, California 94070
ACTIVE
CONDITION: FAIR
2Beds
2Baths
1,070Sq Ft
1,237Lot Size
Property Price
LIST PRICE$718,000
EST. MARKET VALUE
$718,000
SUMMARY
This Condominium represents a Strong Value Opportunity, listed at a List Price of $718,000—positioned well below the $718,000 Fair Market Value. While the unit maintains a Condition Rating of 4, its prime downtown location and proximity to the 9/10-rated Central Middle School provide long-term stability. The property features a private balcony with pool views and offers significant potential for cosmetic updates to drive appreciation. This is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a walkable, transit-oriented lifestyle in San Carlos.
Estimated Market Value
$718,000
Based on Realkey algorithm analyzing recent comparable sales in San Carlos.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1966, the unit is functional but dated. While it features fresh paint and new carpet, the kitchen and bathrooms show signs of age exceeding 20 years, including white tile countertops with wide grout lines, older cabinetry, and basic appliances like a coil-top electric stove. The wall-mounted heating units also reflect the building's original era.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Middle School: Central Middle School (9/10).
- Prime Downtown Location
Situated in the heart of San Carlos, this property offers unparalleled walkability to top-rated schools, the Caltrain station, and the vibrant downtown dining and shopping district.
- Exceptional Value
As the lowest-priced two-bedroom, two-bathroom condo in downtown San Carlos, this unit represents a rare entry-level opportunity in a highly sought-after market.
CONSRISKS & DEFICIENCIES
- Extended Market Time
With 261 days on the market and multiple price reductions, the property may face perception challenges regarding its initial valuation or specific building constraints.
- High Monthly Carrying Costs
The monthly association fee of $772 is relatively high for a building constructed in 1966, which may impact the overall debt-to-income ratio for budget-conscious buyers.
About 728 Elm 205
***Exceptional Value in San Carlos! The Lowest-Priced 2 Bedroom, 2 Bathroom Condo in Downtown!*** Premier location in the heart of The City of Good Living's Downtown. Enjoy effortless access to shops, restaurants, the library, senior and youth centers, parks, top-rated schools, the train station, weekly Farmers' Market, and year-round festivals all just steps from your door. This charming end-unit condo offers privacy, natural light, and a thoughtfully designed layout. The kitchen is impeccably maintained and ideal for home chefs, flowing seamlessly into a dining area perfect for entertaining. Relax in the spacious living room or step out onto the generous balcony overlooking the sparkling pool. The primary suite features private balcony access and an en suite bath, while the sizable guest bedroom is served by a conveniently located second bath. A large hall closet provides potential for in-unit laundry. Enjoy beautifully landscaped grounds, a community pool, dedicated parking, and extra storage. Freshly painted with new carpet, this home is move-in ready. A must-see gem in an unbeatable location! Property is virtually staged.
Property Details
Public Facts
- Property Type
- Condominium
- Year Built
- 1966
- Lot Size
- 1,237 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $772.0 / Month
Neighborhood Insights
San Carlos Unified Schools
Central Middle School
Grades 6-8 • 0.2 mi
9/10
Sequoia High School
Grades 9-12 • 1.7 mi
6/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 1.7 |
| Baths | 2.0 | 1.7 |
| Square foot | 1,070 | 1,112.818 |
| Lot Size | 1,237 | 1,055.222 |
| Price | $718.0K | $996.7K |
| Price per sq ft | $671 | $905 |
| Built year | 1966 | 1991 |
| HOA | $772.0 | $734 |
| Days on market | 285 | 51 |
Pricing History
Listed for Sale
Sep 10, 2026
$718,000
$745,000
-4% Price Drop
Initial Listing
Price Change
Apr 18, 2026
$745,000
$798,000
-7% Price Drop
Initial Listing
Price Change
Jan 12, 2026
$798,000
Initial Listing