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$9,450,000

Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Constructed in 1960 and situated on a 24,944 sqft lot, with approximately 24,592 sqft of gross building area across two (2) buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure obligation and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports + 4 uncovered assigned spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS), a strategy not currently utilized under existing ownership. The pro forma reflects an estimated $45,600 in additional RUBS income upon implementation.Current rents averaging approximately $1,610/month for studios and $2,085/month for 1-Bed/1-Bath units reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apartments at 420 N. Bayshore Boulevard.

ML82050464 MLS ⋅ Knights Inn Apartments BLDG.

Knights Inn Apartments, located at 100-106 N. Bayshore Boulevard in San Mateo, presents a rare 38-unit multifamily investment opportunity in San Mateo. The property offers a unit mix of thirty-four (34) studios (~381 sqft) and four (4) 1-Bedroom/1-Bath units (~570 sqft). Constructed in 1960 and situated on a 24,944 sqft lot, with approximately 24,592 sqft of gross building area across two (2) buildings. SB-721 COMPLIANT, BALCONY REBUILD COMPLETED, eliminating a significant capital expenditure obligation and providing investors with a clean compliance profile at close. The property further features a secured fenced-in pool, on-site coin-operated laundry, and 36 covered carports + 4 uncovered assigned spaces. Gas and electric utilities are master metered for each building, presenting a direct value-add opportunity through implementation of a Ratio Utility Billing System (RUBS), a strategy not currently utilized under existing ownership. The pro forma reflects an estimated $45,600 in additional RUBS income upon implementation.Current rents averaging approximately $1,610/month for studios and $2,085/month for 1-Bed/1-Bath units reflect meaningful upside to market rents of $2,100 and $2,395 respectively, as validated by the nearby Country Club Apartments at 420 N. Bayshore Boulevard.

100-106 N Bayshore BLVD, San Mateo

Listed by Nate Gustavson, 415-786-9410 from Compass
(If provided) CoList: Cameron Foster from Compass

$2,499,000

Fantastic investment property in ideal Peninsula location. Six large one bedroom, one bath units. New roof, exterior paint, and landscaping. Easy property to manage and lease. Tremendous upside. Pro forma income of over $200,000 per year. Approximately 7,500 sq ft property on a 4,885 sq ft lot. Three garage spaces, each with tandem parking. Great west side San Mateo asset with easy access to Caltrain, Freeways, and SamTrans. Separate PG&E and water meters.

ML82037914 MLS

Fantastic investment property in ideal Peninsula location. Six large one bedroom, one bath units. New roof, exterior paint, and landscaping. Easy property to manage and lease. Tremendous upside. Pro forma income of over $200,000 per year. Approximately 7,500 sq ft property on a 4,885 sq ft lot. Three garage spaces, each with tandem parking. Great west side San Mateo asset with easy access to Caltrain, Freeways, and SamTrans. Separate PG&E and water meters.

4111 Beresford ST, San Mateo

Listed by John F. Britton, (650) 208-6518 from W. J. Britton & Company
(If provided) CoList: from

$5,650,000

Price reduced 4/29/2026. Crystal Springs Apartments is a generational multifamily asset, held by the same family for decades after establishing deep roots in San Mateo County more than 90 years ago. Constructed in 1978 by the developer of the adjacent Crystal Springs Village Shopping Center, the property reflects a level of care, intention, and permanence that is increasingly rare. Both in construction and interior character, the residences offer an experience more akin to a single-family home than a conventional rental property. It is 10-units consisting of (2) 2 bed / 2.5-bath townhouses, (5) 2 bed / 2 bath, and (3) 1 bed / 1 bath units. The property is two separate buildings located in a primarily single family residential neighborhood. It is situated on two separate parcels (041-203-010 and 041-203-020) that combine for ~0.35 acres of land. Residents enjoy amenities such as enclosed garage and covered parking, vaulted ceilings in second floor units, fireplace in each unit, and balconies and/or patios. The property's Peninsula location is near the midpoint of San Francisco and the Silicon Valley allowing for easy access to all major Bay Area employment centers. The neighboring multifamily property at 2005 Parrott Dr sold for $769,533 per unit on 2/20/2026.

ML82036937 MLS ⋅ Crystal Springs Apartments BLDG.

Price reduced 4/29/2026. Crystal Springs Apartments is a generational multifamily asset, held by the same family for decades after establishing deep roots in San Mateo County more than 90 years ago. Constructed in 1978 by the developer of the adjacent Crystal Springs Village Shopping Center, the property reflects a level of care, intention, and permanence that is increasingly rare. Both in construction and interior character, the residences offer an experience more akin to a single-family home than a conventional rental property. It is 10-units consisting of (2) 2 bed / 2.5-bath townhouses, (5) 2 bed / 2 bath, and (3) 1 bed / 1 bath units. The property is two separate buildings located in a primarily single family residential neighborhood. It is situated on two separate parcels (041-203-010 and 041-203-020) that combine for ~0.35 acres of land. Residents enjoy amenities such as enclosed garage and covered parking, vaulted ceilings in second floor units, fireplace in each unit, and balconies and/or patios. The property's Peninsula location is near the midpoint of San Francisco and the Silicon Valley allowing for easy access to all major Bay Area employment centers. The neighboring multifamily property at 2005 Parrott Dr sold for $769,533 per unit on 2/20/2026.

2001-2003 Parrott DR, San Mateo

Listed by Carlos Azucena, 408-205-2679 from Marcus & Millichap
(If provided) CoList: from

Sold listing courtesy of Carlos Azucena from M&MKW

$5,200,000

Marcus & Millichap is pleased to present 24 Baytree Way, a ten-unit multifamily community located in the highly sought-after El Cerrito Manor neighborhood of San Mateo. Built in 1950, the property sits adjacent to Hillsborough Heights, where the average home value exceeds $4,000,000. This rare investment opportunity allows an investor to curate a boutique residential community surrounded by well-established single-family homes. The unit mix features a combination of one- and two-bedroom floor plans, each notably larger than typical apartment homes constructed during the 1950's. The property also offers two vacant, rent-ready units, providing immediate access for tours and a seamless transition for new ownership.

ML82026751 MLS ⋅ Baytree Way Apartments BLDG.

Marcus & Millichap is pleased to present 24 Baytree Way, a ten-unit multifamily community located in the highly sought-after El Cerrito Manor neighborhood of San Mateo. Built in 1950, the property sits adjacent to Hillsborough Heights, where the average home value exceeds $4,000,000. This rare investment opportunity allows an investor to curate a boutique residential community surrounded by well-established single-family homes. The unit mix features a combination of one- and two-bedroom floor plans, each notably larger than typical apartment homes constructed during the 1950's. The property also offers two vacant, rent-ready units, providing immediate access for tours and a seamless transition for new ownership.

24 Baytree WAY, San Mateo

Listed by Jimmy Castellanos, 408-483-5040 from Marcus & Millichap
(If provided) CoList: from

Sold listing courtesy of Mary Bee from NTERO

$8,225,000

Magnify is pleased to present the opportunity to acquire 2830 Flores St, a fully stabilized, turnkey 17-unit apartment building in the thriving city of San Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix of large, spacious units ideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with 15 of 17 units renovated to modern standards. With 8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.

ML82024663 MLS

Magnify is pleased to present the opportunity to acquire 2830 Flores St, a fully stabilized, turnkey 17-unit apartment building in the thriving city of San Mateo. Located just steps from the Hillsdale Shopping Center and Caltrain Station, this well-maintained asset offers a compelling mix of large, spacious units ideal for attracting long-term tenants in a high-demand rental market. Constructed in 1961 and fully renovated in 2020-2021, the property consists of (7) two-bedroom/one-bathroom units, (8) one-bedroom/one-bath units, and (2) studios on a 18,499 square foot lot. The property has undergone significant capital improvements, with 15 of 17 units renovated to modern standards. With 8.8% immediate upside in rents and 21% total upside in rents, investors can benefit from strong in-place income and future growth potential. This is a low-vacancy, high-performing asset in one of the Bay Areas most resilient and supply-constrained submarkets.

2830 Flores ST, San Mateo

Listed by Eric Katz, 408-317-0187 from Magnify Real Estate
(If provided) CoList: David Katz from Magnify Real Estate

Sold listing courtesy of David Katz from DYNA8

$3,900,000

ML82007777 MLS

231 Villa TER, San Mateo

Listed by Jefrey Henderson, 408-893-8063 from Jefrey Henderson, Broker
(If provided) CoList: from

Sold listing courtesy of Jefrey Henderson from BRESJ

$15,570,000

San Mateo Garden Apartments is a stunning 39-unit apartment community located at 22 N San Mateo Dr in the thriving city of San Mateo, California. Situated on a parcel of land totaling 46,252 square feet, the subject property was originally constructed in 1950 and has a gross building area of approximately 23,893 square feet, offering its tenants beautifully designed two-bedroom, one-bedroom, and studio floor plans. San Mateo Garden Apartments offers residents attractive community amenities including a shared grill, a community pool, and a laundry facility. San Mateo Garden Apartments is located in Downtown San Mateo, a popular area featuring a myriad of diverse retail shops, fine dining, and entertainment options. The subject property is also located nearby many major transportation corridors including U.S. Route 101, California State Route 92 and the San Mateo Caltrain Station. These transportation hubs provide tenants close proximity to both San Francisco and the South Bay providing quick access to many of the nation's top employers including Google, Facebook, Apple, Stanford Medicine, Box Inc., Visa, Sony as well as many others.

ML81988875 MLS

San Mateo Garden Apartments is a stunning 39-unit apartment community located at 22 N San Mateo Dr in the thriving city of San Mateo, California. Situated on a parcel of land totaling 46,252 square feet, the subject property was originally constructed in 1950 and has a gross building area of approximately 23,893 square feet, offering its tenants beautifully designed two-bedroom, one-bedroom, and studio floor plans. San Mateo Garden Apartments offers residents attractive community amenities including a shared grill, a community pool, and a laundry facility. San Mateo Garden Apartments is located in Downtown San Mateo, a popular area featuring a myriad of diverse retail shops, fine dining, and entertainment options. The subject property is also located nearby many major transportation corridors including U.S. Route 101, California State Route 92 and the San Mateo Caltrain Station. These transportation hubs provide tenants close proximity to both San Francisco and the South Bay providing quick access to many of the nation's top employers including Google, Facebook, Apple, Stanford Medicine, Box Inc., Visa, Sony as well as many others.

22 N San Mateo DR, San Mateo

Listed by Robert Johnston, 650-391-1744 from Marcus & Millichap
(If provided) CoList: Jessica Tomasetti from Marcus & Millichap

Sold listing courtesy of Cole Simpson from M&MKW

$6,400,000

Marcus & Millichap is honored to present 22 E 20th Avenue, a *15-unit gated complex, located in San Mateo, CA. Constructed in 1972, this asset sits upon a 14,500 square foot lot and commands 13,862 square feet of building area. 22 E 20th Avenue otters fourteen (14) exceptionally large one bed, one-bath units and one non-conforming studio unit which can be utilized for its current income or as an Airbnb unit. The units have received extensive capital improvements and include hardwood flooring, new granite counter tops, new cabinetry, appliances, recessed lighting and more. To further add to their high-quality condition, the units boast recessed lighting throughout, spacious living rooms and large bedrooms.

ML81909356 MLS

Marcus & Millichap is honored to present 22 E 20th Avenue, a *15-unit gated complex, located in San Mateo, CA. Constructed in 1972, this asset sits upon a 14,500 square foot lot and commands 13,862 square feet of building area. 22 E 20th Avenue otters fourteen (14) exceptionally large one bed, one-bath units and one non-conforming studio unit which can be utilized for its current income or as an Airbnb unit. The units have received extensive capital improvements and include hardwood flooring, new granite counter tops, new cabinetry, appliances, recessed lighting and more. To further add to their high-quality condition, the units boast recessed lighting throughout, spacious living rooms and large bedrooms.

22 E 20th AVE, San Mateo

Listed by Fred Rubio, 408-314-3009 from Marcus & Millichap
(If provided) CoList: Mitchell Zurich from Marcus & Millichap

Sold listing courtesy of Cole Simpson from M&MKW