47
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345 21st
About This Property
Tucked along 21st Street is a detached studio-workshop with a half bath - a flexible bonus space that could easily become a guest suite or even a potential income producer down the road. Adding a shower could be a great next step, pending a quick check with the city. The workshop connects nicely to the enclosed garage, and there's also a covered carport plus plenty of additional parking. I'd highly recommend taking a quick drive up 21st onto Villa Lane to see the amazing potential waiting for you here in person.
With several separate outdoor living areas, this property is the perfect canvas for your DIY dreams. Drawing on 40 years of remodel and design experience, I can honestly say this is a wonderful bargain - it's genuinely rare to find anything under $700k on the West side these days.
And then there's the location itself, which is hard to beat. You're just a quick 4-minute drive, or a pleasant 20-minute walk, from Paso's fantastic downtown restaurants, shopping, and our beautiful City Park. Beyond that, this home is ideally positioned within easy walking distance of everyday conveniences, public transit, and quick freeway access - making day-to-day life remarkably easy no matter where you need to be.
This is a rare opportunity to put in a little love and sweat equity and unlock serious long-term value. The upside here is significant: with some thoughtful updates, there's real room to build equity and create lasting real estate security. And the best part? It's perfectly comfortable to enjoy exactly as it is in the meantime, so there's no pressure to do it all at once.
The list of possibilities here is truly remarkable - but if there's one thing to remember, it's this: location, location, location.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Price History
| Date / Event | Date | Event | Price |
|---|---|---|---|
| Oct 20, 2026 | In contract | - | |
| In contract | |||
| Aug 25, 2026 | Listed by Central Coast Sotheby's International Realty | $575,000 | |
| Listed by Central Coast Sotheby's International Realty | |||
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017