117 N Delaware Street, San Mateo, CA 94401

• 6 beds
• 4,165 sqft

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!

Listing Status:

Active

Date Added:

April 21, 2026

Data Last Updated:

May 20, 2026 at 11:09PM

Listing Office:

Gilmartin Group : 650-348-2020

Listing Agent:

Tim Gilmartin : 650-348-2020

MLS ID:

ML82043896

Interior

• Flooring: Tile
• A/C: No Air Conditioning
• Heating: Forced Air

Location

• School District: San Mateo Union High
• County: San Mateo

Lot

• Zoning: RM00032304080

Utilities

• Water: Public
• Sewer: Public Sewer