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32034782
32034783

34 W 38th Avenue, San Mateo, CA 94403

BD
CA CA 01789680
Compass Commercial
MT
CA CA 01471708
compass
Listed by Compass Commercial, compass
$1,650,000
36 days on market
Updated 36 days ago

34 & 36 W 38th Ave DUPLEX

Details
APN 042-161-220
Property Type Multifamily
Sub Type Apartment Building
Square Footage 2,553
Units 2
NOI $22,071
Occupancy 100%
Tenancy Multi
Pro-Forma NOI $47,271
Price per SqFt $646
Year Built 1947
Buildings 1
Lot Size (SqFt) 5,079
Zoning R3-M
Investment Type Owner/User
Sale Condition 1031 exchange

Multifamily | 2 Units

Marketing description

Prime Southeast Hillsdale duplex — walking distance to Hillsdale Shopping Center and the newly improved Hillsdale Caltrain station. Best-in-class neighborhood amenities, easy commuter access, and major planned redevelopment activity create durable rental demand and long-term value capture. Hillsdale is a full-service retail destination with 130+ stores, a modern dining terrace and a luxury cinema, offering everyday conveniences and lifestyle retail minutes from the property. This retail gravity drives foot traffic, convenience for tenants, and long-term area desirability. The Hillsdale Caltrain Station has been modernized and provides direct Peninsula train service to job centers up and down the corridor (very attractive to commuting tech/professional tenants). The City is actively planning and implementing station-area improvements to strengthen pedestrian/bicycle links and transit-oriented development. San Mateo and the surrounding Peninsula host a dense cluster of technology, healthcare and professional employers (local tech/software firms, medical centers and regional corporate offices). The local employer base supports strong demand for high profile rentals that are salaried, commuting professionals.

Investment highlights

  • Pride of Ownership Duplex in Prestigious Hillsdale Neighborhood
  • Ideal for Owner-Occupiers and Investors
  • Attractive Oversized Corner Lot
  • Beautiful Mature Landscaping Creates Excellent Curb Appeal
  • Two Well-Maintained Homes
  • Private Yard Areas
  • Private Garages for Each Home
  • Laundry Hook-Ups in Both Garages
  • Upgraded Electrical System & New Water Heaters
  • Opportunity to Convert Garage Space to ADU!
  • Rentability / Tenant demand — Walkable retail, frequent Caltrain service and proximity to Peninsula employers produce steady demand from commuting professionals and small families.
  • Rent growth potential — Transit & mall redevelopment activity, plus constrained Bay Area housing supply, support above-market rent resilience over time.
  • Stability & low vacancy risk — Hillsdale is a well-established micro-market with everyday retail amenities and grocery options that help retain tenants.
  • Upside from area projects — Large-scale redevelopment of Hillsdale Mall and station-area TOD will likely raise neighborhood profile and rental comps over a 3–7 year horizon.

Listing Contacts

BD
CA CA 01789680
Compass Commercial
MT
CA CA 01471708
compass
Listed by Compass Commercial, compass

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$22,071.00
$1,839.25/mo

Valuation Metrics

0
DSCR
1.34%
Cap Rate
1.34%
ROI

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Additional Information

Name
Bryan Danforth
License
CA 01789680
Brokerage Address
270 3rd Street
Name
Matt Thomson
License
CA 01471708
Brokerage
Compass Commercial
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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