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Eric Sandate

eric.sandate@exprealty.com +1(650) 576-5580

Listed by Tim Gilmartin • Gilmartin Group, DRE#00841354

$ 1,880,000

Est. payment | -/mo

6 Beds

4 Baths

4,165 SqFt

Save

$ 1,880,000

Est. payment | -/mo

Save

6 Beds

4 Baths

4,165 SqFt

Open House

Thu Apr 30, 4:00pm - 6:00pm

Sat May 02, 2:00pm - 4:00pm

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

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(650) 576-5580

eric.sandate@exprealty.com

1641 Laurel St, San Carlos, CA, 94070-5216, USA

117 N Delaware ST San Mateo, CA 94401

Eric Sandate

Open House

Key Details

Location

Interior

Exterior

Building

Others

Nearby Locations

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117 N Delaware ST