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Jenn Smart

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228 State St , San Mateo, CA 94401
$1,999,000
Est. Payment: $4,442.22/mo
4556 Sqft
0.17 Acres
Status: active | Days on site: 13
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ML39596 - ML5083273
By proceeding you are providing Jenn Smart with your express written consent to send you marketing and promotional communications via calls or prerecorded messages dialed by a natural person or by using an artificial or automated telephone dialing system.

By checking the box, you consent to receive marketing text messages. If checked, you consent to receiving texts including marketing and promotional communications, from Jenn Smart. Messages and data rates may apply. Message frequency varies. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms & Conditions and Privacy Policy.
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Jenn Smart
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House Description

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.
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Highlights

Listed by John Sayage , 650-346-9480 Compass , (650) 375-1111. CRMLS/Multi-Regional MLS mls logo

Property Type

Commercial Sale
Lot/Acreage
0.17

Year Built

1926

County

San Mateo

Area

699 - Not Defined

 School District

Other

Listing ID

ML82060377

Questions about this listing?

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Interior Features

Water:Public

Exterior Features

Lot:No Land Lease
Garage Capacity:1
Zoning:RM0000
Principal Interest
$4,442
Taxes
$1,916

Home Price

$1,999,000

Loan Details

30 yrs
0%

Down Payment

20%
$399,800
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$4,442.22

Principal

Taxes

Principal Taxes HOA Total
Monthly $4,442.22 $1,915.75 $0.00 $6,357.97
Yearly $53,306.67 $22,989.00 $0.00 $76,295.67
Total $1,599,200.00 $689,670.00 $0.00 $2,288,870.00
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So-Crates Johnson
Dust, Wind, Dude
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Market insight data is pulled from the same city as the listing being viewed (San Mateo, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-11-14T17:38:50.000Z

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