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Listed by Tim Gilmartin • Gilmartin Group, DRE#00841354
$ 1,880,000
Est. payment /mo
Active
117 N Delaware ST San Mateo, CA 94401
6 Beds
4 Baths
4,165 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,165 sqft
Price per Sqft $451
MLS Listing ID ML82043896
Bedrooms 6
Full Baths 4
Year Built 1990
Lot Size 5,750 Sqft
Property Sub-Type Duplex
Property Description
A high-quality Peninsula duplex with stable income, minimal expense drag, and clearly defined long-term upside.117 N. Delaware Street presents a rare opportunity to acquire a well-located duplex in the heart of San Mateo. The property consists of two large units, each configured as 3 bedrooms and 2 bathrooms with garage parking offering strong fundamentals for both owner-occupiers and long-term investors. With tenants in place for over 20 years, the asset provides stable in-place income and a clear path for predictable rent growth under California rent control guidelines. The property currently generates $7,610 per month ($91,320 annually), with a highly efficient expense. Market rents for comparable units are estimated at approximately $4,500+ per month, indicating meaningful long-term upside. At market levels, the property would generate approximately $108,000. Generous layouts, strong rental demand and a desirable unit mix support long-term growth and income optimization. Don't miss this rare opportunity whether as an investment or a property you could occupy!
Location
State CA
County San Mateo
Area Eastern Addition/Downtown Area
Zoning RM0004
Interior
Heating Central Forced Air
Cooling None
Flooring Carpet, Tile, Vinyl / Linoleum
Exterior
Parking Features Attached Garage, Carport , On Street
Garage Spaces 4.0
Utilities Available Public Utilities
Roof Type Shingle
Building
Story 2
Foundation Concrete Perimeter
Sewer Sewer - Public
Water Public
Level or Stories 2
Others
Tax ID 032-304-080
Security Features None
Horse Property No
Special Listing Condition Not Applicable
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