Under Contract

117 N Delaware Street

San Mateo, CA 94401

$1,880,000 $7,926/Mo

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Overview

Bed

Bath

4,165

Sqft

5,750

Sqft(Lot)

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 up side. 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!

Property Details

Property Type : Residential Income

Price : $1,880,000

AD Id : 77638153

MLS Id : ML82043896

Beds : 6

Lot Size : 5,750 Sqft

Living Area Size : 4,165

Year Built : 1990

Garage : 4

County : San Mateo

Map

What's Nearby

Nearby Areas

Features

Bathroom Information

Total Baths: 0

Water/Sewer

Water Source: Public Sewer: Public Sewer
Interior Features

Roof: Shingle Flooring: Carpet,Tile
Cooling Features

None Air Conditioning

Heating Source

Central Has Heating

Building Information

Year Built: 1990 Building Area Total: 4,165 Roof: Shingle
Foundation

Concrete Perimeter
Accessibility Features

None

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.132
Lot Size Source: Assessor Lot Size Square Feet: 5750

Listing Price Information

Original List Price: 1,880,000 Listing Contract Date: 2026-04-21
Lease Information

Listing Agreement: Seller Reserved

Tax Information

Parcel Number: 032304080 Annual Tax: 25839

Garage and Parking

Garage Description: Carport

Homeowners Association

Other Property Info

Source Listing Status: Active Under Contract Source Neighborhood: 699 - Not Defined Zoning: RM0004 Source Property Type: Residential Income Area: 699 - Not Defined Property SubType: Duplex
Building and Construction

Property Age: 36 Structure Type: Duplex Year Built Source: Assessor Total Square Feet Living: 4165

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
315 Grand Boulevard, San Mateo, CA, 94401	$1,950,000	2	--	2,410	2,410 SqFt
422426 Peninsula Avenue, San Mateo, CA, 94401	$1,999,999	8	--	3,456	3,456 SqFt

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ByOwner last updated this listing 06/12/2026 @ 14:11

MLS: ML82043896 LISTED BY: Tim Gilmartin, Gilmartin Group 650-348-2020 SOURCE: CRMLS