120 Gramercy Drive, San Mateo, California 94402, San Mateo, 94402 - 4 bed, 4 bath
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San Mateo, California 94402
This Stunning Move-In Ready Home is a Prime Investment Opportunity, listed at $3,000,000—positioned well below the $3,070,162 Fair Market Value by 2%. This valuation gap offers $70,162 in Instant Equity for the buyer. Featuring a Condition Rating of 2, the home includes a gourmet kitchen, newer elevator, and mountain-view terraces. Located near Top-Rated Schools like South Hillsborough Elementary, this property offers a sophisticated lifestyle. It is an ideal acquisition for discerning professionals or owner-occupants seeking a turnkey sanctuary.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 120 Gramercy Drive Subject | $3,000,000* List Price | 4 | 4 | 2,850 | $1,077 | - |
A 74 Crystal Springs Road Sold | $3,625,000 | 5 | 3 | 3,730 | $972 | 0.3 mi |
B 429 Virginia Avenue Pending | $3,795,000 List Price | 5 | 4 | 3,270 | $1,161 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
While built in 1970, the property has undergone significant high-end renovations. The gourmet kitchen features premium stainless appliances and modern stone countertops, and the home includes recent major system updates such as a newer roof and elevator. The interior finishes are in mint condition, making it move-in ready with no immediate maintenance required.
Elementary School: South Hillsborough School (9/10). Middle School: Crocker Middle School (9/10).
The residence features a newer elevator connecting its striking vertical layout, complemented by significant recent capital improvements including a new roof, garage door, and reinforced retaining walls.
Set on a lush 10,113 sqft lot, the property offers a unique sanctuary with a private grotto, mountain-view terraces, and an expansive south-facing orchard featuring nearly 20 fruit trees.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2850, other record living area = 2690.
The steep, terraced hillside and vertical architectural design may present ongoing landscaping maintenance challenges and navigation difficulties for buyers sensitive to stairs, despite the elevator.
A substantial $500,000 price reduction immediately following the initial listing suggests a significant shift in market positioning that may affect buyer perception of value.
Set on a lush terraced hillside in one of San Mateos most desirable neighborhoods, this architecturally distinct 4BD/4BA residence offers a rare blend of privacy, natural beauty, and sophisticated indoor-outdoor living. Designed with a striking vertical layout connected by a newer elevator, the home maximizes both views and usable outdoor space. Expansive living and dining areas open seamlessly to multiple outdoor retreats, including a tranquil grotto, view terrace overlooking the Santa Cruz Mountains, and an enchanting top-floor patio with fountain reminiscent of a private treehouse sanctuary. Bathed in natural light, the home features designer finishes, a gourmet kitchen with premium appliances, generous entertaining spaces, and versatile bedroom arrangements. The secluded second-floor suite offers exceptional privacy while remaining easily accessible. The expansive south-facing grounds feature close to 20 fruit trees and are ideal for gardening, entertaining, or quiet relaxation amid mature landscaping. Recent improvements include a newer elevator, roof, fences, retaining walls, and garage door. Ideally located near downtown San Mateo, Burlingame Avenue, Caltrain, parks, dining, shopping, and major commuter routes.
No exterior & parking available.
Grades K-5 • 0.4 mi
Grades K-5 • 0.6 mi
Grades K-5 • 1.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 4.0 | 3.0 | 83% |
| Square foot | 2,850 | 1,890 | 83% |
| Lot Size | 10,113 | 6,499 | 82% |
| Price | $3.00M | $2.86M | 51% |
| Price per sq ft | $1.1K | $1.5K | 9% |
| Built year | 1970 | 1952 | 83% |
| HOA | $0 | $0 | 50% |
| Days on market | 10 | 101 | 2% |
Jun 5, 2026
$3,000,000
Initial Listing
Jun 4, 2026
$3,500,000
Initial Listing
Sep 2, 2020
$1,950,000
Public Record
Apr 30, 2015
$1,450,000
Public Record