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119 E Poplar Avenue, San Mateo, California 94401, San Mateo, 94401 - bed, bath

119 E Poplar Avenue, San Mateo, California 94401 home-pic-0
ACTIVE$1,598,000
119 E Poplar Avenue, San Mateo, California 94401
0Bed
0Bath
2,490Sqft
7,314Lot

Price Vs. Estimate

The estimated value ($1,723,019.09) is $125,019.09 (7%) higher than the list price ($1,598,000). This property may be underpriced.

Key pros and cons

Top Pros:
Prime Location & Walkability: Ideally situated between Downtown Burlingame and Downtown San Mateo, offering convenient, walkable access to Caltrain, top schools, parks, trails, shops, and restaurants.
Top Cons:
Age of Property: Built in 1922, the property's age may imply potential for unforeseen maintenance or system updates beyond the recent renovations.

Compared to the nearby listings

Price:$1.60M vs avg $1.60M (+$0)50%
Size:2,490 sqft vs avg 2,560 sqft33%
Price/sqft:$642 vs avg $64250%

More Insights

Built in 1922 (103 years old).
Condition: The property, built in 1922, has undergone significant recent updates, including a composite roof, fresh interior/exterior paint, updated sewer lateral, and updated interiors with newer flooring (laminate, tile, and carpet). While the bathroom shown is clean and functional, its style is somewhat dated, and no kitchen images are provided, though the description mentions stainless steel appliances in select units. Overall, the property appears well-maintained and move-in ready, aligning with a 'Good' condition score due to these substantial and recent improvements that mitigate its age.
Year Built
1922
Close
-
List price
$1.6M
Original List price
$1.6M
Price/Sqft
$642
HOA
-
Days on market
-
Sold On
-
MLS number
ML82021482
Home ConditionGood
Features
View-

About this home

Rare Investment Opportunity in Prime San Mateo Location! Ideally located between Downtown Burlingame and Downtown San Mateo, this well-maintained duplex, with additional unit, offers flexibility for investors, multi-generational living, or owner-occupants. The property includes a 2BR/1BA upper unit, 3BR/1BA middle unit, and a 1BR/1BA studio all currently rented month-to-month with a combined monthly income of $7,350 (utilities not included). Features include updated interiors, newer carpet, tile flooring, crown molding, and abundant natural light. Select units offer stainless steel appliances. Recent upgrades: composite roof, skylights, fresh interior/exterior paint, and updated sewer lateral. Shared laundry, dedicated storage closets, and open parking for 3 vehicles enhance functionality. Large lot may offer ADU potential (buyer to verify with City of San Mateo). Convenient, walkable location near Caltrain, top schools, parks, trails, and a wide variety of shops and restaurants. Live in one unit and rent the others, or enjoy solid rental income from all three. A rare and versatile opportunity in a sought-after neighborhood!

Condition Rating
Good
The property, built in 1922, has undergone significant recent updates, including a composite roof, fresh interior/exterior paint, updated sewer lateral, and updated interiors with newer flooring (laminate, tile, and carpet). While the bathroom shown is clean and functional, its style is somewhat dated, and no kitchen images are provided, though the description mentions stainless steel appliances in select units. Overall, the property appears well-maintained and move-in ready, aligning with a 'Good' condition score due to these substantial and recent improvements that mitigate its age.
Pros & Cons

Pros

Prime Location & Walkability: Ideally situated between Downtown Burlingame and Downtown San Mateo, offering convenient, walkable access to Caltrain, top schools, parks, trails, shops, and restaurants.
Strong Income Potential: A multi-unit property (duplex with an additional studio) currently generating a combined monthly income of $7,350 from three rented units, providing immediate cash flow.
Recent Capital Improvements: Significant recent upgrades including a composite roof, skylights, fresh interior/exterior paint, and an updated sewer lateral, reducing immediate maintenance concerns for a buyer.
ADU Potential: The large lot offers potential for an Additional Dwelling Unit (ADU), providing future expansion and increased income opportunities.
Versatile Occupancy Options: Offers flexibility for various buyers, including investors, multi-generational families, or owner-occupants looking to live in one unit and rent the others.

Cons

Age of Property: Built in 1922, the property's age may imply potential for unforeseen maintenance or system updates beyond the recent renovations.
Month-to-Month Tenancies: All units are currently on month-to-month leases, which could lead to tenant turnover or require immediate lease renegotiations, potentially impacting stable income or owner-occupancy plans.
ADU Potential Requires Verification: While promising, the ADU potential is not guaranteed and requires the buyer to undertake due diligence with the City of San Mateo, adding an element of uncertainty and effort.

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