RealKey
‪(213) 433-7766‬

320 Villa Terrace, San Mateo, California 94401, San Mateo, 94401 - bed, bath

320 Villa Terrace, San Mateo, California 94401 home-pic-0
ACTIVE$1,998,888
320 Villa Terrace, San Mateo, California 94401
0Bed
0Bath
3,880Sqft
7,563Lot
Year Built
1907
Close
-
List price
$2M
Original List price
$2.19M
Price/Sqft
$515
HOA
-
Days on market
-
Sold On
-
MLS number
ML82008039
Home ConditionGood
Features
Good View:
View-

About this home

We found 3 Cons,5 Pros. Rank: price - $2.00M(50th), sqft - 3880(50th), beds - undefined(50th), baths - undefined(50th).

Welcome to 320 Villa Terrace, a rare opportunity to own a historic 1907 triplex with a bonus studio in the heart of San Mateo. This beautifully maintained property offers 3,880 sqft of living space on a 7,500 sqft lot. It includes two 1BD/1BA units, one 2BD/1BA unit, and a non-conforming basement studio ideal for added rental income or flexible use. Unit #1 features a bright living room, two spacious bedrooms with hardwood floors, and updated kitchen & bathroom. Unit #2 offers a sunny living room with fireplace, updated kitchen & bath, and newer appliances. Unit #3 includes a cozy bedroom, large eat-in kitchen, and bonus office/living space. Each unit comes with its own attached one-car garage. The property also features a shared laundry area, ample storage, and a full basement. The expansive backyard offers potential for an ADU - buyers to verify with the City of San Mateo. Conveniently located between Burlingame and Downtown San Mateo, it's minutes to shopping, dining, the Japanese Tea Garden, Coyote Point, and San Mateo Arboretum. A perfect blend of historic charm, central location, and rental upside. 320 Villa Terrace is a true San Mateo gem!

Price History

Date
Event
Price
10/25/25
Price Change
$1,998,888-8.6%
05/22/25
Listing
$2,188,000
Condition Rating
Good
Despite being built in 1907, the property has undergone significant recent updates, particularly in the kitchens and bathrooms, as confirmed by the listing description and images. The bathroom shown features modern tiling, a glass shower enclosure, and a contemporary vanity, indicating a renovation within the last 5-15 years. Interior rooms display modern grey wood-plank laminate flooring and fresh paint. The description highlights 'updated kitchen & bathroom' in Unit #1 and 'updated kitchen & bath, and newer appliances' in Unit #2, suggesting these crucial areas are move-in ready and meet current quality standards for tenants. While the property's age (1907) implies potential for older underlying systems and higher maintenance costs, the visible and described updates, along with the 'beautifully maintained' status, position it as a well-kept property with modern amenities in its key living spaces, making it 'Good' rather than 'Fair' which would imply more outdated components.
Pros & Cons

Pros

Strong Income Potential: A triplex with an additional non-conforming studio offers diversified rental income streams and significant cash flow opportunities.
Exceptional Location: Situated ideally between Burlingame and Downtown San Mateo, providing residents with convenient access to urban amenities, transportation, and local attractions.
Historic Charm with Modern Updates: The 1907 build offers unique character, complemented by updated kitchens and bathrooms in individual units, enhancing tenant appeal.
ADU Development Opportunity: The expansive 7,500 sqft lot and backyard present a clear potential for adding an Accessory Dwelling Unit (ADU), subject to city verification, to further boost income and property value.
Tenant-Friendly Amenities: Each unit benefits from an attached one-car garage, alongside shared laundry facilities and ample storage, adding significant convenience and desirability for renters.

Cons

Age-Related Maintenance & Costs: As a 1907 build, the property may incur higher ongoing maintenance expenses and potential for unexpected repairs related to its historic infrastructure.
Non-Conforming Studio Status: The basement studio's 'non-conforming' designation could present legal or permitting challenges for its rental use, potentially affecting its income reliability or requiring future investment for compliance.
Recent Price Reduction: A notable price drop from the original listing price suggests potential overpricing or market resistance, which might warrant further investigation into the property's condition or market valuation.

Best solution for experienced home buyers!

Data-driven home buying experience with our licensed real estate agents and cutting-edge AI

Browse Properties by State Browse housing market trends by state