Property Details
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!
MLS Listing Information
MLS #
ML82043896
MLS Source
MLSListings, Inc.
Days on Site
0
Interior Features
Flooring
Carpet, Tile, Vinyl/Linoleum
Cooling
None
Heating
Central Forced Air
Exterior Features
Roof
Shingle
Foundation
Concrete Perimeter
Parking, School, and Other Information
Garage/Parking
Attached Garage, Carport, On Street, Garage: 4 Car(s)
Elementary District
San Mateo-Foster City Elementary
High School District
San Mateo Union High
Sewer
Public Sewer
Water
Public
Zoning
RM0004
Contact Information
Listing Agent
Tim Gilmartin
Gilmartin Group
License #: 00841354
Phone: (650) 348-2020
Co-Listing Agent
Kathryn Gerhardt
Gilmartin Group
License #: 01958832
Phone: (650) 773-3595
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 1 | 2 | 2 |
| Unit # | Sq Ft | Beds | Baths | Rent |
|---|---|---|---|---|
| 1 | – | 3 | 2/1 | $3,760 |
| 2 | – | 3 | 2/1 | $3,850 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
117 N Delaware St is a Duplex in San Mateo, CA 94401. This 4,165 square foot property sits on a 5,750 Sq Ft Lot and features – bedrooms & – full bathrooms. It is currently priced at $1,880,000 and was built in 1990. This address can also be written as 117 N Delaware St, San Mateo, CA 94401.
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This listing information is up-to-date as of April 21, 2026. For the most current information, please contact Tim Gilmartin, (650) 348-2020
