About this home

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.

Facts and features

Schools

• San Mateo High School

  high · 9-12 · 0.4 mi

  9

• San Mateo Park Elementary School

  elementary · K-5 · 0.5 mi

  2

• Borel Middle School

  middle · 6-8 · 1.9 mi

  8

• Pacific Rim International School

  elementary · K-12 · 0.3 mi

• St. Catherine Of Siena Elementary School

  elementary · K-8 · 0.4 mi

• Stanbridge Academy

  elementary · K-12 · 0.4 mi

Price history

• Oct 20, 2026 · Listed$1,999,000
• Nov 14, 2023 · Sold$1,450,000
• May 15, 1972 · Sold$39,000

Tax history

• 2025$23,505 tax · $1,508,580 assessed
• 2024$23,124 tax · $1,479,000 assessed
• 2023$8,626 tax · $220,593 assessed
• 2022$8,350 tax · $216,268 assessed
• 2021$8,162 tax · $212,029 assessed
• 2020$7,523 tax · $209,856 assessed
• 2019$7,082 tax · $205,742 assessed
• 2018$6,161 tax · $201,709 assessed

Home value

$1,947,000

• Collateral Analytics$1,947,000

Where it is