94 E 39th Ave, San Mateo, CA 94403

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$2,048,000

bedrooms

bathrooms

square feet

2,520

Acreage

Open Houses

year built

1954

Full Baths

Half Baths

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94 East 39th Avenue is beautifully updated four (4) unit multifamily asset in a prime San Mateo location, ideal for investors or owner-users. Located in the quiet San Mateo Village neighborhood just five (5) blocks from Hillsdale Shopping Center, the property features four spacious 1-Bedroom/1-Bath units (~630 sqft), all tastefully renovated with quartz countertops, updated appliances, modern flooring, and upgraded electrical. His-and-hers closets and individual water heaters add comfort, ample hot water and convenience for the tenants. --- Situated on a 6,101 square foot lot, the building includes four (4) covered carport, a bonus side yard with potential for added parking or storage, and an on-site laundry room with owned washer/dryer machines for additional income. --- Tenants enjoy proximity to Hillsdale Mall, Trader Joes, Whole Foods, and multiple public parks. The property provides easy access and is a short walk to El Camino Real, Hwy 92, Hwy 101, and Caltrain. Current annual income exceeds $113,000/year with an in place 3.41% cap rate and 18.12 GRM. A strong rental location with upside potential in a desirable mid-Peninsula submarket.

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MLS number: -

Listing agent: Nate Gustavson

Listing broker: Compass

Last update: Monday, September 15 2025 at 5:28 a.m. EDT

Compass Broker