Prevu by reAlpha
BuySellBlogBrowse Listings
State, San Mateo CA 94401
State, San Mateo CA 94401
California>San Mateo>Downtown San Mateo

StateSan Mateo, CA 94401

For Sale

$1,999,000

Smart Buyer Rebate $19,990

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.

Listed by John Sayage

·

License #02068974

·

Compass

·

650-346-9480

Last updated September 09, 2026

·

Source: MLSListings #ML82060377

Listing Facts

  • TypeMulti-family
  • NeighborhoodDowntown San Mateo
  • Days on Prevu7
  • Size4,556 sqft
  • Price per sqft$439

Amenities

  • Pets Allowed
  • Parking

Location

Mortgage Calculator

Listing History

09/09/2026
Listed by Compass
$1,999,000
  1. 09/09/2026$1,999,000
    Listed by Compass

Property Details for State

Association

General

  • Number Of Units In Community: 5

Exterior

Construction

  • Roof: Rolled/Hot Mop
  • Year Built: 1926

Measurements

  • Building Area Total: 4,556
  • Lot Size Area: 7,500
  • Lot Size Square Feet: 7,500

Financial

Taxes

  • Parcel Number: 032-151-050

Interior

Measurements

  • Living Area: 4,556

Parking

Parking

  • Carport: Yes
  • Parking Features: Assigned Spaces
  • Parking Total: 1

Schools

Elementary School

  • Elementary School District: San Mateo-Foster City Elementary

High School

  • High School District: San Mateo Union High

Utilities

Equipment

  • Heating: Floor Furnace, Wall Furnace
  • Sewer: Public Sewer
  • Utilities: Public Utilities, Water - Public
  • Water Source: Public

Frequently Asked Questions

How many bedrooms does this multi-family home have?

There is bedrooms in this multi-family home at State.

Does this multi-family home have parking?

Yes, there is 1 parking space available for State.

How does State compare to other multi-family homes in Downtown San Mateo?

This multi-family home is listed 0% below the average price for multi-family homes in Downtown San Mateo and has been on the market for 126 less days than the typical home in this area.

What is the square footage on this multi-family home?

According to the MLS, this listing is 4,556 sqft.

State is a -bedroom multi-family home for sale in San Mateo CA 94401. Listed on Prevu for 7 days at $1,999,000. This residence features 4,556 square feet of living space, located in Downtown San Mateo. The median listing price for multi-family homes in this area is $998,500. The home offers pets allowed and parking. Explore more multi-family home listings in San Mateo.

The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListings™️ MLS system. Real estate listings held by brokerage firms other than Prevu Real Estate are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents. Based on information from the MLSListings MLS) as of 09/09/2026. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Data Services by Constellation Data Labs. IDX display powered by Prevu Real Estate. Copyright 2026 MLSListings Inc. All rights reserved.

Full MLS Disclaimers

Rebate estimate is indicative only and based on listing price and estimated buyer's agent commission paid by owner, if applicable. Final rebates are subject to Terms of Use and may vary due to final negotiated transaction terms.