
San Mateo, California 94402
This duplex presents a High-Potential Investment Opportunity with a List Price of $2,600,000—positioned well above the $2,026,037 Fair Market Value. While the property requires a full interior renovation due to its Condition Rating of 5, the oversized lot and ADU development potential provide significant long-term upside. Located near major tech hubs and transit corridors, this asset offers strong rental demand. This is a strategic acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to leverage a value-add duplex in a prime San Mateo location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 109 Hobart Avenue Subject | $2,600,000* List Price | 0 | 0 | 3,686 | $550 | - |
A 6 Avila Road Sold | $1,850,000 | 0 | 0 | 3,724 | $497 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1948, the property is over 75 years old and shows significant interior dating. The kitchen features aged cabinetry, old tile countertops, and checkerboard linoleum flooring, while the bathroom contains dated fixtures and a small corner shower. The interior requires a full rehab to meet modern standards, aligning with the >30-year criteria for poor condition.
Located in one of the most desirable residential neighborhoods in San Mateo, 109-111 Hobart Avenue offers a unique duplex opportunity with both investment appeal and owner-user flexibility. The property consists of two spacious three-bedroom units, each with generous layouts, and attached garages. The rear unit features a private outdoor area, enhancing tenant appeal and livability. Set on an oversized lot, the property also offers potential for future ADU development, creating additional income opportunities. 109-111 Hobart Ave is within one mile to San Mateo Central Park and Downtown San Mateo, featuring a myriad of high-end shopping, dining and entertainment options. The subject property is also located within close proximity to the major transportation corridors of U.S. Highway 101, California State Route 92, the San Mateo Caltrain Station, and the major thoroughfare of El Camino Real. These transportation hubs provide tenants and residents with convenient access to San Francisco and San Jose and provides close proximity to many of the nation's top tech employers including Google, Meta, Stanford, Box Inc., Visa, Sony as well as many others.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,686 | 2,799 |
| Lot Size | 8,750 | 4,800 |
| Price | $2.60M | $1.61M |
| Price per sq ft | $705 | $172.8K |
| Built year | 1948 | 1939 |
| HOA | $0 | $0 |
| Days on market | 27 | 79 |
Jun 25, 2026
$2,600,000
Initial Listing
Aug 7, 2023
$2,494,500
Public Record