117 N Delaware ST, San Mateo, CA 94401
- $1,825,000
- 6
- BD
- 4,165
- SqFt
Listed by Tim Gilmartin, 650-348-2020 from Gilmartin Group
(If provided) CoList: Kathryn Gerhardt from Gilmartin Group
Sold listing courtesy of Kathryn Gerhardt from GILM
- Sold Price
- $1,825,000
- List Price
- $1,880,000
- Closing Date
- Jun 26, 2026
- MLS#
- ML82043896
- Status
- SOLD
- Zoning
- RM0004
- Sqft. of Residence
- 4,165
- Lot Size
- 5,750
- Listing Area
- Eastern Addition/Downtown Area
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!
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Additional Information
- Cooling System
- None
- Floor Covering
- Carpet, Tile, Vinyl / Linoleum
- Foundation
- Concrete Perimeter
- Garage Parking
- Attached Garage, Carport, On Street
- Heating System
- Central Forced Air
- Living Area
- 4,165
- Lot Size
- 5,750
- Neighborhood
- Eastern Addition/Downtown Area
- Other Utilities
- Public Utilities
- Roof
- Shingle
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- RM0004
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