Single-Level
For Sale
$1,688,000
450452 State Street, San Mateo, CA 94401
Two residences offer separate utilities, attached garages, and private laundry facilities.
Property Size2,070 SF
Price / SF$815.46
Days on Market21
Property Features for 450452 State Street
General Information
Standard status
Active
Size
2,070 SF
Total Parking Spaces
2
Property subtype
Residential Income
Zoning
R200
Site & Location
Public Transit
Yes
Utilities to Site
Yes
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Individually Metered Utilities
gas, electricity, water
Taxes and HOA fees
Annual Taxes
$21,830
Amenities
washer/dryer
Building Details
Building Size
2,070 SF
Year Built
1948
Buildings
1
Stories
1
Construction
mid-century modern
Listed By:
Shaun Marie Howe · License #01332439
(760) 702-4823
Source:
Desertareaproperty
Added: Oct 8
Changed: Oct 25
Last Checked: Oct 26 at 3:33AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Shaun Marie Howe
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Investment Insights
Based on property information with market context.
Built in 1948, this 2,070-square-foot duplex contains two single-level residences arranged side by side. The front unit has two bedrooms and one bathroom; the rear unit has one bedroom and one bathroom. Each residence includes an attached garage, a washer and dryer, and separate gas, electric, and water meters. Electrical and heating systems have been updated, and the kitchens and bathrooms have contemporary finishes. Laminate flooring and ample storage serve both units, with patios at the rear and a private driveway in front. The property is zoned R200.
The property is situated between the downtown areas of San Mateo and Burlingame. Caltrain, SFO, San Francisco, Silicon Valley, Coyote Point Park, and local cafes, restaurants, and fitness studios are identified as nearby destinations. The residences may be occupied separately or together, with no stairs in either unit.
The property is situated between the downtown areas of San Mateo and Burlingame. Caltrain, SFO, San Francisco, Silicon Valley, Coyote Point Park, and local cafes, restaurants, and fitness studios are identified as nearby destinations. The residences may be occupied separately or together, with no stairs in either unit.
Key Highlights
- Duplex totals 2,070 square feet
- Front residence: 2 bedrooms and 1 bathroom; rear residence: 1 bedroom and 1 bathroom
- Each unit has an attached garage and its own washer and dryer
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,760
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,035,200
$1.0M
Cap Rate 7%
$739,429
$739.4K
Cap Rate 9%
$575,111
$575.1K
Market Conditions
NOI Build-Up for 2,070 SF
Gross rent
$78.2K $37.80/SF
− Vacancy
−$4.3K −$2.08/SF
EGI
$73.9K $35.72/SF
− OpEx
−$22.2K −$10.72/SF
NOI
$51.8K $25.00/SF
Area
San Mateo, CA
Vacancy
5.50%
Lease Rate
$37.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,035,200
Cap Rate 7%
$739,429
Cap Rate 9%
$575,111
Alternative Uses
Best Use
Multifamily LT 5
$739.4K
$647.0K – $862.7K
NOI $51,760 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$667.5K
$584.1K – $778.7K
NOI $46,724 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$818.7K
$716.4K – $955.2K
NOI $57,311 @ 7.0% cap · market cap 3.40%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
932
Businesses Nearby
Explore this area
Business Placement
Demographics for 94401, CA
35,249
Population
13,798
Households
2.6
Avg Household Size
37
Median Age
45%
College-Educated
85%
High-School Grad
3.1 sq mi
ZIP Area
11,371
Density / Sq Mi
$121,258
Median Household Income
$57,724
Median Earnings
$2,713
Median Rent
$1,123,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Two residences offer separate utilities, attached garages, and private laundry facilities.
Where is this duplex located?
The property is located at 450452 State Street San Mateo, CA.
What is the asking price?
The asking price for this property is $1,688,000.
What are key features of this property?
This property features: Duplex totals 2,070 square feet; Front residence: 2 bedrooms and 1 bathroom; rear residence: 1 bedroom and 1 bathroom; Each unit has an attached garage and its own washer and dryer
