Two-Unit Duplex with Attached
New
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 Market1
Property Features for 1661 Kansas ST
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Duplex
Bedrooms
5
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 3, Bedroom 1
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
Amenities
private patios
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
Last Checked: Aug 22 at 6:06PM
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.
Built in 1985, this Redwood City duplex contains 4,098 square feet on a 7,970-square-foot lot. The property includes two separate residences, with the larger offering 3 bedrooms and 2.5 baths and the second offering 2 bedrooms and 2 baths. Each residence has its own outdoor area, while attached garages provide four total parking spaces. Additional on-street parking is available.
The property is located near Woodside Plaza in Redwood City, close to shopping, dining, entertainment, parks, and everyday amenities. Major freeways and transportation serving the Bay Area are also accessible from the property. Zoning is designated Duplex. Building features include forced-air heating, public water service, and a composition and shingle roof.
The property is located near Woodside Plaza in Redwood City, close to shopping, dining, entertainment, parks, and everyday amenities. Major freeways and transportation serving the Bay Area are also accessible from the property. Zoning is designated Duplex. Building features include forced-air heating, public water service, and a composition and shingle roof.
Key Highlights
- 4,098 square feet on a 7,970‑square‑foot lot
- Two residences with 3 bedrooms and 2.5 baths, plus 2 bedrooms and 2 baths
- Four total attached garage spaces, with additional on‑street parking
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
Yes
Highway access
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 distinct layouts, outdoor areas, and dedicated 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 7,970‑square‑foot lot; Two residences with 3 bedrooms and 2.5 baths, plus 2 bedrooms and 2 baths; Four total attached garage spaces, with additional on‑street parking
