117 Delaware, San Mateo CA 94401 | $1,880,000

  • 0 bedrooms
  • 0 bathrooms
  • 0 Sq Ft
  • 5750 Lot Sq Ft
  • Type: Duplex
  • Stories: 2
  • Year Built: 1990
  • MLS#: ML82043896
  • Community: 699 - Not Defined

Listing provided courtesy of Tim Gilmartin of Gilmartin Group. Last updated 2026-04-22 08:11:29.000000. Listing information © 2025 SANDICOR.

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!

More Details

0.13 Acres
2 Stories

David Piper

Call or Text: 858-525-5007

DRE# 02021985