Duplex with Four-Car
New
For Sale
$2,200,000
1661 Kansas Street, Redwood City, CA 94061
Two residences offer separate living areas, private outdoor space, and dedicated garage parking.
Property Size4,098 SF
Price / SF$536.85
Days on Market7
Property Features for 1661 Kansas Street
General Information
Standard status
Active
Size
4,098 SF
Property subtype
Multi Family
Building Details
Year Built
1985
Listing Agency:
Christie's International Real Estate Sereno
(408) 205-1467
Listed By:
Eileen Giorgi · License #01252318
(408) 205-1467
Source:
Exitrealty
Added: Aug 23
Changed: Aug 28
Last Checked: Aug 29 at 8:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Christie's International Real Estate Sereno
Investment Insights
Based on property information with market context.
This duplex contains 4,098 square feet on a 7,970-square-foot lot, with two distinct residences and four total garage spaces. The larger unit includes 3 bedrooms and 2.5 baths, while the second offers 2 bedrooms and 2 baths. Each residence has its own two-car garage and outdoor space, and the smaller unit includes two private patios.
Located near Woodside Plaza in Redwood City, the property is close to shopping, dining, entertainment, parks, and daily amenities. Major freeways and regional transportation provide access throughout the Bay Area. The separate layouts support a range of ownership arrangements, including occupying one residence while renting the other, accommodating extended family, or operating the property as a two-unit investment.
Located near Woodside Plaza in Redwood City, the property is close to shopping, dining, entertainment, parks, and daily amenities. Major freeways and regional transportation provide access throughout the Bay Area. The separate layouts support a range of ownership arrangements, including occupying one residence while renting the other, accommodating extended family, or operating the property as a two-unit investment.
Key Highlights
- 4,098 sf duplex on a 7,970 sf lot
- Two residences with 3‑bedroom/2.5‑bath and 2‑bedroom/2‑bath layouts
- Each unit includes its own 2‑car garage
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
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 residences offer separate living areas, private outdoor space, and dedicated garage parking.
Where is this duplex located?
The property is located at 1661 Kansas Street 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 sf duplex on a 7,970 sf lot; Two residences with 3‑bedroom/2.5‑bath and 2‑bedroom/2‑bath layouts; Each unit includes its own 2‑car garage
