1931 Palm Avenue, San Mateo, California 94403, San Mateo, 94403 - bed, bath
1931 Palm Avenue
San Mateo, California 94403
Property Price
SUMMARY
Analysis of 1931 Palm Avenue, San Mateo, California 94403 is currently available with a list price of $1,688,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the San Mateo Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
Built in 1955, this duplex is well-maintained and functional but clearly dated, fitting the 'fair' criteria. The kitchens feature older oak-style cabinetry, tile countertops, and white appliances likely from a renovation 20+ years ago. Bathrooms show similar aged finishes. While the property benefits from dual-pane windows and new sewer laterals, the interior living spaces, flooring, and fixtures require modernization to meet current market standards, as noted in the listing's 'value-add' description.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Transit-Oriented Location
The property is ideally situated near downtown San Mateo, Central Park, CalTrain, and major highways (101 and 92), making it highly attractive to commuters.
- Separately Metered Utilities
Both PG&E and water are separately metered for each unit, significantly reducing owner overhead and simplifying property management.
- Value-Add Investment Potential
The duplex offers clear upside through interior upgrades and rental repositioning, allowing investors to capture higher market rents.
CONSRISKS & DEFICIENCIES
- Aging Construction
Built in 1955, the property may require more frequent maintenance and eventual modernization of core systems compared to newer builds.
- Limited Parking and Storage
Each two-bedroom unit only provides a one-car garage, which may be a limitation for multi-vehicle households in a high-density area.
- Shared Outdoor Space
The backyard is a common area rather than private, which can be a drawback for tenants seeking exclusive outdoor living space.
About 1931 Palm Avenue
1931-1933 Palm Ave Duplex represents a very attractive investment and outstanding opportunity for the savvy investor. Located in a very desirable and sought after rental submarket, this duplex offers value-add upside through unit upgrades and rental repositioning. The units have been well maintained and have superior tenant profiles affording stable income and worry free operation. All units feature spacious 2 bedroom and 1 bathroom units featuring their own water heater. There is a common backyard for relaxing and entertaining and separate 1 car attached garages which include washer and dryer hookups. The units also boast dual pane windows and all utilities (PG&E & Water) are separately metered. Near Central Park and the vibrant downtown scene with nearby dining and shopping. CalTrain, Highways 101 and 92 are just minutes away with SFO and Bart less than 10 miles away as well. 1927 & 1929 Palm Ave duplexes are just across the beautiful and functional paver driveway/courtyard and are also for sale by the same owner. These two duplexes can be sold in combination or separately via a driveway easement and maintenance agreement. This duplex is 100% leased up. NEW Sewer Laterals! Please DO NOT go on the property!
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1955
- Lot Size
- 4,750 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 2,137 | 2,495 | 25% |
| Lot Size | 4,750 | 5,562 | 25% |
| Price | $1.69M | $1.72M | 50% |
| Price per sq ft | $790 | $657 | 75% |
| Built year | 1955 | 1953 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 29 | 133 | 25% |
Pricing History
Listed for Sale
Feb 6, 2026
$1,688,000
Initial Listing
Sold
Sep 2, 2015
$1,075,000
Public Record