518 19th Ave, San Mateo, CA 94403

518 19th Avenue is a 7-unit turnkey apartment building in the heart of San Mateo, just minutes from Downtown and Caltrain. Built in 1958 and situated on a 7,841 SF lot, the 5,440 SF property features four spacious one-bedroom units and three large studio apartments, each with covered carport parking. Six of seven units have been fully renovated with modern finishes, dual-pane windows, and updated interiors that attract long-term tenants.

Current rents range from $1,795 – $2,350 with market potential to $2,995, providing a compelling rent-growth story and stable cash flow. At a 4.27% cap rate and $450 per SF, this asset delivers immediate returns with long-term value in one of the Peninsula’s strongest rental corridors.

**Location Highlights**

• Quiet residential pocket just south of Downtown San Mateo

• Near El Camino Real, Caltrain Station, and Highways 101/280/92

• Close to Hillsdale Shopping Center and Bay Meadows employers

• Walkable to parks, cafés, and top-rated schools

**Investment Highlights**

• Six of seven units fully renovated (turnkey condition)

• 1:1 covered parking for all units + laundry income

• Strong in-place rents with clear upside to market

• Energy-efficient dual-pane windows and low-maintenance systems

• Membership to Fiesta Gardens Clubhouse and pool

• Proven tenant demand and consistent occupancy

**Financial Summary**

Price: $2,450,000

Cap Rate: 4.27%

GRM: 14.4×

NOI: $104,685

Price/Unit: $350,000

Price/SF: $450