Triplex Property with Detached
For Sale
$2,098,000
220 Madison Avenue, Redwood City, CA 94061
Three-unit property combines a front residence with two rear apartments and detached garage spaces.
Property Size3,732 SF
Price / SF$562.17
Days on Market411
Property Features for 220 Madison Avenue
General Information
Standard status
Active
Size
3,732 SF
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 4BR/2BA, 2 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
1930
Buildings
2
Listing Agency:
Berkshire Hathaway HomeServices DrysdaleProperties
(650) 365-9200
Listed By:
Lucy Paludeti · License #02153172
Source:
Exitrealty
Added: Aug 31, 2025
Changed: Sep 2
Last Checked: Sep 15 at 5:34AM
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 Berkshire Hathaway HomeServices DrysdaleProperties
Investment Insights
Based on property information with market context.
This triplex includes a 3,732-square-foot front home and two rear apartments, providing six bedrooms and four bathrooms across the property. The primary residence has four bedrooms and two bathrooms, a front porch, hardwood flooring, fireplace, dual-pane windows, dining room, and a rear porch. Recent updates include fresh interior paint, new bedroom carpeting, an updated kitchen with granite countertops, an electric cooktop, and dishwasher, along with two updated bathrooms. The rear one-bedroom apartments are positioned above a four-car detached garage.
Built in 1930, the property is located at 220 Madison Avenue in Redwood City’s Central neighborhood near downtown. Restaurants, shopping, transportation, CalTrain, HWY 101, and schools are identified as nearby access points and amenities.
Built in 1930, the property is located at 220 Madison Avenue in Redwood City’s Central neighborhood near downtown. Restaurants, shopping, transportation, CalTrain, HWY 101, and schools are identified as nearby access points and amenities.
Key Highlights
- Triplex configuration with 6 bedrooms and 4 bathrooms
- 3,732 square feet built in 1930
- Front residence offers 4 bedrooms and 2 bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,451
Cap Rate
5.17%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,020
$2.2M
Cap Rate 7%
$1,549,300
$1.5M
Cap Rate 9%
$1,205,011
$1.2M
Market Conditions
NOI Build-Up for 3,732 SF
Gross rent
$165.7K $44.40/SF
− Vacancy
−$10.8K −$2.89/SF
EGI
$154.9K $41.51/SF
− OpEx
−$46.5K −$12.45/SF
NOI
$108.5K $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 Rate 5%
$2,169,020
Cap Rate 7%
$1,549,300
Cap Rate 9%
$1,205,011
Alternative Uses
Best Use
Multifamily LT 5
$1.55M
$1.36M – $1.81M
NOI $108,451 @ 7.0% cap · market cap 5.17%
Second Best
Apartment 5plus
$1.45M
$1.27M – $1.69M
NOI $101,574 @ 7.0% cap · market cap 4.84%
Theoretical Best
Warehouse
$2.96M
$2.59M – $3.46M
NOI $207,506 @ 7.0% cap · market cap 9.89%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,035
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property combines a front residence with two rear apartments and detached garage spaces.
Where is this triplex located?
The property is located at 220 Madison Avenue Redwood City, CA.
What is the asking price?
The asking price for this property is $2,098,000.
What are key features of this property?
This property features: Triplex configuration with 6 bedrooms and 4 bathrooms; 3,732 square feet built in 1930; Front residence offers 4 bedrooms and 2 bathrooms
