117 N Delaware Street, San Mateo, CA 94401
List Price: $1.88M
Listing Status: Active
0Days on Market: 0
0 Bedrooms · 0 Bathrooms · 4,165 sq ft
Property Type: ResidentialIncome
Year Built: 1990
Lot Size: 5,750 sq ft
Garage Spaces: 4
Annual Property Tax: $25,839
MLS Number: ML82043896
About This Property
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 2.5 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!
Listing provided by: Tim Gilmartin DRE #00841354 (650) 348-2020 tim@thegilmartins.com, Gilmartin Group
Source: CRMLS, MLS #: ML82043896
Belmont Brokerage Inc. (DRE #02431308) is not the listing office for this property. We provide buyer representation and consultation. Any “Schedule a Tour” or “Contact” form on this page contacts a Belmont Brokerage agent — not the listing agent above.