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Listed by Gilmartin Group
$ 1,880,000
Est. payment | /mo
4,165 SqFt
$ 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
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
Lot Size 5,750 Sqft
Property Sub-Type Duplex
Source Datashare MLSListings
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
Interior
Heating Forced Air
Cooling No Air Conditioning
Flooring Tile
Fireplace No
Schools
School District San Mateo Union High, San Mateo-Foster City Elementary
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