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$1,880,000
Est. payment /mo
4,165 SqFt
Open House
Thu Apr 30, 4:00pm - 6:00pm
Sat May 02, 2:00pm - 4:00pm
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
HOA Y/N No
Year Built 1990
Annual Tax Amount $25,839
Lot Size 5,749 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 699 - Not Defined
Zoning RM0004
Interior
Heating Central
Cooling None
Flooring Carpet, Tile
Fireplace No
Exterior
Parking Features Carport
Garage Spaces 4.0
Carport Spaces 2
Garage Description 4.0
View Y/N No
Roof Type Shingle
Accessibility None
Total Parking Spaces 2
Building
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
School District Other
Others
Tax ID 032304080
Special Listing Condition Standard
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Listed by Tim Gilmartin Gilmartin Group #00841354
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