Traditional
For Sale
$2,075,000
65 Burbank Avenue, San Mateo, CA 94403
San Mateo duplex with central air, forced-air heating, and off-street assigned parking.
Property Size2,373 SF
Price / SF$874.42
Days on Market156
Property Features for 65 Burbank Avenue
General Information
Standard status
Active
Size
2,373 SF
Property subtype
Residential Income
Zoning
R10006
Taxes and HOA fees
Annual Taxes
$4,475
Amenities
Central Air, Ceiling Fan(s), Gas
Central, Forced Air, Natural Gas
Crawl Space
Oven, Range, Washer, Disposal, Washer/Dryer, Dishwasher, Microwave, Refrigerator, Range Hood, Self Cleaning Oven, Gas Range
Kitchen Island
Off Street, Assigned
Traditional
Building Details
Building Size
2,373 SF
Year Built
1940
Buildings
1
Stories
2
Listing Agency:
Intero Real Estate Services
(650) 622-1233
Listed By:
John S Reese · License #00838479
(650) 622-1233
Source:
Evrealestate
Added: Mar 30
Changed: Aug 31
Last Checked: Aug 31 at 2:40PM
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 Intero Real Estate Services
Investment Insights
Based on property information with market context.
This traditional duplex in San Mateo was built in 1940 and encompasses 2,373 square feet. Interior features include central air, ceiling fans, forced-air heating, natural gas service, and a crawl space. The kitchens are equipped with ovens, ranges, gas ranges, range hoods, refrigerators, dishwashers, microwaves, disposals, washers, dryers, and kitchen islands.
The property is located at 65 Burbank Avenue, San Mateo, CA 94403, and carries R10006 zoning. Exterior features include off-street assigned parking. The address is reached from El Camino via 41st Avenue, Beresford, and Burbank Avenue.
The property is located at 65 Burbank Avenue, San Mateo, CA 94403, and carries R10006 zoning. Exterior features include off-street assigned parking. The address is reached from El Camino via 41st Avenue, Beresford, and Burbank Avenue.
Key Highlights
- 2,373‑square‑foot duplex in San Mateo
- Built in 1940
- R10006 zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$59,336
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.86%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,186,720
$1.2M
Cap Rate 7%
$847,657
$847.7K
Cap Rate 9%
$659,289
$659.3K
Market Conditions
NOI Build-Up for 2,373 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$89.7K $37.80/SF
− Vacancy
−$4.9K −$2.08/SF
EGI
$84.8K $35.72/SF
− OpEx
−$25.4K −$10.72/SF
NOI
$59.3K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,186,720
Cap Rate 7%
$847,657
Cap Rate 9%
$659,289
Alternative Uses
Best Use
Multifamily LT 5
$847.7K
$741.7K – $988.9K
NOI $59,336 @ 7.0% cap · market cap 2.86%
Second Best
Apartment 5plus
$765.2K
$669.5K – $892.7K
NOI $53,563 @ 7.0% cap · market cap 2.58%
Theoretical Best
Office A
$938.6K
$821.3K – $1.10M
NOI $65,700 @ 7.0% cap · market cap 3.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,592
Businesses Nearby
Explore this area
Business Placement
Demographics for 94403, CA
45,057
Population
17,682
Households
2.5
Avg Household Size
38
Median Age
60%
College-Educated
92%
High-School Grad
5.6 sq mi
ZIP Area
8,046
Density / Sq Mi
$179,825
Median Household Income
$93,542
Median Earnings
$3,273
Median Rent
$1,725,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - San Mateo duplex with central air, forced-air heating, and off-street assigned parking.
Where is this duplex located?
The property is located at 65 Burbank Avenue San Mateo, CA.
What is the asking price?
The asking price for this property is $2,075,000.
What are key features of this property?
This property features: 2,373‑square‑foot duplex in San Mateo; Built in 1940; R10006 zoning
