Property Overview:
206 Sequoia Ave is a single-family home and an entitled development site in Redwood City, CA 94061. The existing home was built in 1978, featuring 3 bedrooms, 2 bathrooms, and 1,050 sq. ft. of living space on a 19,401 sq. ft. lot. The property is currently for sale for $1,700,000. It is also approved for a 23-unit condominium development as of May 2023.
Neighborhood Highlights:
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Schools:
- In the attendance area of Selby Lane Elementary, Woodside High School, and John F. Kennedy Middle School.
- Other nearby schools: Henry Ford Elementary, North Star Academy.
- Average SAT score: 1069 (higher than CA state average of 975).
- Nearby schools are above average.
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Crime Rate:
- Personal crime risk: 6.1% (lower than state average of 11.8%).
- Property crime risk: 8.4% (lower than state average of 10.8%).
- Moderate overall crime risk; 3 criminal/sex offenders within 1 mile.
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Job Market:
- 62.3% white-collar jobs, 37.7% blue-collar jobs.
- Unemployment rate: 2.5% (lower than state average of 4.7%).
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Demographics:
- Community population: 35,340 (3% growth since 2000).
- 64% families with children.
- Largest age groups: 35-44 (15.98%) and 25-34 (15.44%).
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Cost of Living:
- Median household income: $74,862.
- Average annual spending: $56,499.
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Natural Disaster Risk:
- Very high earthquake risk.
- Very low tornado risk.
- Minimal flood risk.
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Weather:
- Average temperature: 52.0°F (January), 83.5°F (July).
- Average rainfall: 18.4 inches/year.
- Average snowfall: 0 inches/year.
Property Features:
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Single-family home:
- 3 bedrooms, 2 bathrooms, 1,050 sq. ft.
- Parking garage and central heating system.
- Estimated home value: $900,200 (recent sale: $1,700,000 in 2019).
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Development Opportunity:
- Entitled for 23 new condominiums (approved May 2023).
- 20 market-rate units (2 bed/2 bath, ~1,100 sq. ft. each).
- 3 below-market units (medium tier AMI).
- 1 one-bedroom + den, 2 one-bedroom units (~1,000 sq. ft. each).
- Secured parking and common area amenities for all units.
- Open-concept floor plans, large windows, and natural light.
Location Benefits:
- Prime location in a highly sought-after neighborhood near downtown Redwood City.
- Walkable to a variety of restaurants, retail shops, and entertainment options.
- Excellent commuter access:
- Close to Caltrain station (easy access to Silicon Valley & San Francisco).
- Quick access to Highway 280.
- Strong long-term investment potential due to Redwood City’s growth, urban revitalization, and proximity to major tech hubs.