Duplex with Four-Car
For Sale
$2,200,000
1661 Kansas ST, Redwood City, CA 94061
Residential Income (2-4 units), REDWOOD CITY, CA
Property Size4,098 SF
Lot Size0.18 Acres
Price / SF$536.85
Days on Market8
Property Features for 1661 Kansas ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Duplex
Bedrooms
5
Rooms
Bedroom 2, Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 5
Parking
4
Parking features
Garage - Attached, On Street
Subdivision
Central Park Etc.
Standard status
Active
Size
4,098 SF
Lot size
0.18 Acres
Utilities
Heating system
Forced Air
Water source
Public
Building Details
Year built
1985
Number of units
2
Roof type
Composition, Shingle
Listing Agency:
Christie's International Real Estate Sereno
(408) 335-1400
Listed By:
Eileen Giorgi · License #01252318
(408) 205-1467
Added: Aug 22
Changed: Aug 26
Last Checked: Aug 29 at 9:06PM
MLS# ML82058656
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This Redwood City duplex contains 4,098 square feet on a 0.183-acre lot, with two separate residences and four total attached garage spaces. The larger unit includes 3 bedrooms and 2.5 baths, while the second provides 2 bedrooms and 2 baths along with two private patios. Forced-air heating, a composition and shingle roof, public water service, and 1985 construction complete the principal property details.
Located at 1661 Kansas ST, the property is near Woodside Plaza, shopping, dining, entertainment, parks, and daily amenities. The setting also provides access to major freeways and transportation serving the Bay Area. Duplex zoning supports the property's two-residence configuration.
Located at 1661 Kansas ST, the property is near Woodside Plaza, shopping, dining, entertainment, parks, and daily amenities. The setting also provides access to major freeways and transportation serving the Bay Area. Duplex zoning supports the property's two-residence configuration.
Key Highlights
- 4,098 square feet on a 0.183‑acre lot
- Two residences with 3‑bedroom and 2.5‑bath and 2‑bedroom and 2‑bath layouts
- Four total attached garage spaces
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$119,087
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.41%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,381,740
$2.4M
Cap Rate 7%
$1,701,243
$1.7M
Cap Rate 9%
$1,323,189
$1.3M
Market Conditions
NOI Build-Up for 4,098 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$182.0K $44.40/SF
− Vacancy
−$11.8K −$2.89/SF
EGI
$170.1K $41.51/SF
− OpEx
−$51.0K −$12.45/SF
NOI
$119.1K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,381,740
Cap Rate 7%
$1,701,243
Cap Rate 9%
$1,323,189
Alternative Uses
Best Use
Multifamily LT 5
$1.70M
$1.49M – $1.98M
NOI $119,087 @ 7.0% cap · market cap 5.41%
Second Best
Apartment 5plus
$1.59M
$1.39M – $1.86M
NOI $111,536 @ 7.0% cap · market cap 5.07%
Theoretical Best
Warehouse
$3.26M
$2.85M – $3.80M
NOI $227,856 @ 7.0% cap · market cap 10.36%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
883
Businesses Nearby
Explore this area
Business Placement
Demographics for 94061, CA
36,704
Population
14,122
Households
2.6
Avg Household Size
38
Median Age
51%
College-Educated
87%
High-School Grad
3.9 sq mi
ZIP Area
9,411
Density / Sq Mi
$141,599
Median Household Income
$66,388
Median Earnings
$2,818
Median Rent
$1,938,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two distinct residences offer flexible occupancy, private outdoor areas, and attached garage parking.
Where is this duplex located?
The property is located at 1661 Kansas ST Redwood City, CA.
What is the asking price?
The asking price for this property is $2,200,000.
What are key features of this property?
This property features: 4,098 square feet on a 0.183‑acre lot; Two residences with 3‑bedroom and 2.5‑bath and 2‑bedroom and 2‑bath layouts; Four total attached garage spaces
