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217 Madison Avenue, Redwood City, California 94061, Redwood City, 94061 - bed, bath

217 Madison Avenue, Redwood City, California 94061 home-pic-0
ACTIVE$1,888,000
217 Madison Avenue, Redwood City, California 94061
0Bed
0Bath
3,783Sqft
5,200Lot
Year Built
1969
Close
-
List price
$1.89M
Original List price
$2.1M
Price/Sqft
$499
HOA
-
Days on market
-
Sold On
-
MLS number
ML82013379
Home ConditionFair
Features
Good View: City Lights
ViewCity Lights

About this home

We found 3 Cons,5 Pros. Rank: price - $1.89M(67th), sqft - 3783(83th), beds - undefined(50th), baths - undefined(50th).

Great Starter Investment! Multi Unit Residential Building in very Convenient Location. Walk to Whole Foods, Starbucks and Redwood City Downtown entertainment, Shops and Restaurants, Bus and Train Station nearby. Value of Two 2 Bedroom apartments plus a Spacious 4 Bedroom 3 Bathroom ground floor Unit big enough for extended family and friends. Convenience of 3 Garages plus extra storage space and Coin Laundry Room. The large ground floor unit Produces 2 Rent payments and the upstairs Two 2 Bedroom Units Produces 2 more Rent payments! Excellent annual gross income.. And there is Solar on the Roof Save$! Great Income! And Price Just Reduced! (What can be better than retirement income and a place to live in future?)

Price History

Date
Event
Price
10/17/25
Price Change
$1,888,000-0.8%
10/05/25
Price Change
$1,903,000-9.4%
08/27/25
Listing
$2,100,000
Condition Rating
Fair
Built in 1969, this property is over 50 years old. While one bathroom shows recent updates with a modern vanity and tiled shower, the kitchen is significantly outdated with tile countertops, older cabinets, and basic appliances, indicating it has not been renovated in decades. Other areas show a mix of older and somewhat updated elements. The presence of solar panels is a positive upgrade, but the overall condition suggests the property is aged, maintained through regular upkeep, but requires substantial modernization, particularly in the kitchen, to meet current standards.
Pros & Cons

Pros

Strong Income Potential: This multi-unit triplex generates excellent annual gross income from two 2-bedroom apartments and a spacious 4-bedroom, 3-bathroom ground floor unit, offering four distinct rental payments.
Exceptional Walkability & Transit Access: Located in a very convenient area, tenants can walk to Whole Foods, Starbucks, Redwood City Downtown entertainment, shops, restaurants, and easily access bus and train stations.
Eco-Friendly & Cost-Saving Solar: The presence of solar panels on the roof reduces utility costs, enhancing the property's appeal and providing long-term savings for the owner and tenants.
Flexible Unit Configuration: The property offers versatile living arrangements with a large 4-bedroom unit suitable for owner-occupancy or extended family, alongside two additional 2-bedroom units, maximizing rental potential.
Ample Parking & Storage: A significant advantage in an urban setting, the property includes three garages plus additional storage space, providing convenience for residents.

Cons

Age of Property & Potential for Updates: Built in 1969, the property is over 50 years old, suggesting potential for aging systems and interiors that may require significant capital expenditures for modernization or deferred maintenance.
Lack of Renovation Details: The description does not specify any recent renovations or upgrades to the units, implying that interiors might be dated and could necessitate investment to attract premium tenants or maintain competitive rental rates.
Multiple Price Reductions: The property has undergone several price reductions from its original list price, which could indicate initial overpricing or underlying challenges affecting its market value or perceived condition.

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