NEW! Buy and sell safely with virtual options - Learn More
About the Listing ML39596 - ML5083273
Excellent five-unit investment opportunity ideally located between Downtown San Mateo and Downtown Burlingame, offering convenient access to shopping, dining, Caltrain, major transportation routes, and Peninsula employment centers. The property features two one-bedroom units, one two-bedroom unit, and two studios, with current annual rents of approximately $122,580. Several units are rented below current market levels, creating significant long-term upside through future rent growth and thoughtful renovations. Renovated market rents are projected at approximately $181,800 annually, highlighting the property's compelling value-add potential. A rare opportunity to acquire a well-located Peninsula multifamily asset with strong in-place income, below-market rents, and meaningful future upside.
Listing Highlights for 228 State St
Interior Details
- Appliances:
- Air Cond:
- Heating: Floor Furnace,Wall Furnace
- Fireplaces:
- Floor:
- Basement:
- Other:
- Water: Public
Exterior Details
- Lot Description: No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 1
- Zoning: RM0000
- Roof:
- Others:
- Sewer:
Financial Details
- Tax Amount: $22,989
- Taxes w/Assessments: N/A
- Tax/Property ID: 032151050
- Tax Year: N/A
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Listing Location
Questions About..
228 State St San Mateo, CA 94401
Never Miss A New Property
Get notified any time there's a new home on the market in this neighborhood!
Don't worry! We'll never spam you or sell your details. You can unsubscribe whenever you'd like.
Listing Courtesy of -
