San Mateo, California, United States 1 - 18823535
San Mateo, California, United States 2 - 18823535 San Mateo, California, United States 3 - 18823535
San Mateo, California, United States 4 - 18823535 San Mateo, California, United States 5 - 18823535
$1,999,000

Multi Family In San Mateo

  • 4,556 Sqft
  • 7,500 Sqft lot
  • Updated: Today
  • Source:
    bridgeMLS  MLS#ML82060377

About the Property

Excellent five-unit investment opportunity ideally located between Downtown San Mateo and Downtown Burlingame, offering convenient access to shopping, dining, Caltrain, major transportation routes, and Peninsula employment centers. The property features two one-bedroom units, one two-bedroom unit, and two studios, with current annual rents of approximately $122,580. Several units are rented below
Excellent five-unit investment opportunity ideally located between Downtown San Mateo and Downtown Burlingame, offering convenient access to shopping, dining, Caltrain, major transportation routes, and Peninsula employment centers. The property features two one-bedroom units, one two-bedroom unit, and two studios, with current annual rents of approximately $122,580. Several units are rented below current market levels, creating significant long-term upside through future rent growth and thoughtful renovations. Renovated market rents are projected at approximately $181,800 annually, highlighting the property’s compelling value-add potential. A rare opportunity to acquire a well-located Peninsula multifamily asset with strong in-place income, below-market rents, and meaningful future upside.
…

  • Property type

    Other

  • Year built

    1926

  • Price/sqft

    $438

Features

  • Investment Property

Explore the Area

228 State Street, San Mateo, California, United States View on Google Maps
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Joined 10 months ago
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California, United States
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45
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2025
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California, United States
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Last updated
Today
First listed
Sep 10
Listing reference
ML82060377
Listing status

Bay East ©2026. CCAR ©2026. bridgeMLS ©2026. Information Deemed Reliable But Not Guaranteed. This information is being provided by the Bay East MLS, or CCAR MLS, or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website. This information is intended for the personal use of consumers and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated at 2026. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

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