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    Charming Duplex in Sunnybrae Neighborhood Title is generated by Realmo AI

    515 S Fremont ST, San Mateo 94402

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    Claim this Listing
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    For Sale
    $1,899,000

    MULTI_FAMILY - SAN MATEO

    Property size:
    2,220 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $855/SF
    Added:
    Jun 1, 2026
    Days on Market:
    1
    Last Refresh:
    Jun 1 at 9:06 am

    Property Features for 515 S Fremont ST

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    RM0000
    Bedrooms
    4
    Rooms
    Bedroom 1, Bedroom 3, Bedroom 4, Bedroom 2
    Parking
    1
    Parking features
    Garage - Attached
    Appliances
    Cooktop - Electric, Countertop - Granite, Dishwasher, Garbage Disposal, Microwave, Oven - Electric, Pantry, Refrigerator
    Standard status
    Active
    Size
    2,220 SF
    Lot size
    0.14 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas, Central
    Water source
    Public

    Building Details

    Year built
    1920
    Number of units
    2
    Flooring type
    Laminate, Tile, Carpet, Hardwood
    Roof type
    Shingle

    We can help!

    Listing Contact
    Bret Evans
    Bret Evans

    Listing agent Bret Evans License #01223530

    Listing office RE/MAX Gold Redwood Shores. 3 Twin Dolphin Dr, suite 175, Redwood City, CA

    Listing date Jun 1, 2026

    MLS# ML82042066 Listing URL

    Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Highly desirable Sunnybrae neighborhood location with excellent access to transportation, shopping, and dining.
    • Two units: Front residence (2 bed/2 bath) and rear unit (2 bed/1 bath) offering flexibility.
    • Front residence features original oak hardwood floors, two fireplaces, and updated classic character.
    • Detached 2‑car garage and additional driveway parking.
    • Located in a strong local school district.
    • Rear unit has a new roof and its own kitchen and laundry room.

    Overview

    Located in the highly desirable Sunnybrae neighborhood of San Mateo, this charming duplex is situated on a wide, tree-lined street. The exterior has been repainted, and the rear unit features a new roof. The front residence includes 2 bedrooms and 2 bathrooms, two fireplaces, original oak hardwood floors, and a large welcoming entryway. The separate dining room flows into a spacious kitchen with pantry space and an in-unit washer and dryer. A detached 2-car garage and additional parking at the end of the driveway are available. The rear unit offers a private 2-bedroom, 1-bath layout with its own kitchen and laundry room. Sunnybrae is known for its unique, solidly built homes and excellent access to transportation, shopping, and dining. The property is also located in a strong local school district. This versatile duplex presents an opportunity for both owner-occupants and investors. The property size is 2220 square feet and the lot size is 0.1383 acres.
    Property Profile Location Intelligence

    Current Use by Public Records

    Budget Auto Insurance Financial Advisor

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Hair Salon Dental Office Nail Salon Food Market Grocery & Convenience Store Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    San Mateo
    County
    San Mateo
    State
    Longitude
    -122.316016
    Latitude
    37.566701

    FAQs

    What type of property is this?
    Duplex - Desirable San Mateo duplex with income potential in prime location.
    Where is this duplex located?
    The property is located at 515 S Fremont ST San Mateo.
    What is the asking price?
    The asking price for this property is $1,899,000.
    What are key features of this property?
    This property features: Highly desirable Sunnybrae neighborhood location with excellent access to transportation, shopping, and dining.; Two units: Front residence (2 bed/2 bath) and rear unit (2 bed/1 bath) offering flexibility.; Front residence features original oak hardwood floors, two fireplaces, and updated classic character.
    (650) 722-6555
    We can help!
    Listing Contact
    Bret Evans
    Bret Evans
    Real Estate License ID: 01223530
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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