137 Elm Street, San Mateo, California 94401, San Mateo, 94401 - 4 bed, 3 bath
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San Mateo, California 94401
This 1907 Queen Anne Victorian represents a High-Potential Investment Opportunity, listed at $2,175,000—positioned well above the $1,742,323 Fair Market Value by -24%. While the property requires significant interior rehabilitation, its Fair Condition Rating is offset by a massive 9,000 sqft lot and a detached carriage house, providing an ideal footprint for an ADU. This Value-Add Asset offers substantial long-term appreciation potential through strategic renovation. It is an ideal acquisition for Fix-and-Flip Investors or Contractors seeking a historic project in a prime San Mateo location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 137 Elm Street Subject | $2,175,000* List Price | 4 | 3 | 2,380 | $765 | - |
A 124 S Idaho Street Sold | $1,680,000 | 3 | 2 | 2,230 | $753 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1907, this Victorian is over 100 years old and explicitly marketed as needing a remodel. While the roof and sewer lateral are newer, the interior is significantly dated with 30+ year old finishes, worn carpeting, and peeling paint in the bathrooms. The kitchen and baths require a full rehab to meet modern standards.
This classic 1907 Queen Anne Victorian is the birthplace of Claire Giannini Hoffman and features grand architectural details, offering a unique opportunity to own a piece of San Mateo history.
The oversized 9,000 sqft lot includes a detached two-car garage and original carriage house, providing an ideal footprint for a potential Accessory Dwelling Unit (ADU) to increase property value.
Situated with easy access to downtown San Mateo's shops, parks, and transportation, the property offers high walkability and convenience in a highly desirable neighborhood.
The property is explicitly noted as waiting for a remodel and upgrades, suggesting that substantial additional investment is required to bring the interior up to modern standards.
With 114 days on the market and a $200,000 price reduction, the property has struggled to find a buyer, which may indicate concerns regarding the scale of work versus the current asking price.
Own a piece of History in this Classic 1907 Queen Anne Victorian with large open living room, kitchen/dining, separate front office, sun room and secluded yard on oversized 9,000 sqft lot. Birthplace of Claire Giannini Hoffman, daughter of A.P. Giannini, founder of Bank of Italy/BofA. Traditional bench seat entry welcomes guests to this grand estate waiting for your remodel and upgrades. Kitchen features built-in oven, dishwasher, gas range with custom hood and large walk-in pantry. Separate laundry room, hardwood floors, rear patio. Detached two car garage with original carriage house would be ideal for an ADU. Newer shingled roof and new sewer lateral. Easy access to downtown shops, parks & transportation. Property may qualify for the Mills Act.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,380 | 1,840 |
| Lot Size | 9,000 | 6,059 |
| Price | $2.17M | $2.27M |
| Price per sq ft | $914 | $1.4K |
| Built year | 1907 | 1950 |
| HOA | $0 | $600 |
| Days on market | 166 | 29 |
Mar 9, 2026
$2,175,000
$2,375,000
-8% Price Drop
Initial Listing
Feb 6, 2026
$2,375,000
Initial Listing