414 E 16th Avenue, San Mateo, California 94402, San Mateo, 94402 - 0 bed, 0 bath
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414 E 16th Avenue
San Mateo, California 94402
ACTIVE
CONDITION: GOOD
0Beds
0Baths
3,325Sq Ft
5,789Lot Size
Property Price
LIST PRICE$1,900,000
EST. MARKET VALUE
$2,069,204
8% BelowMARKET VALUE
SUMMARY
This four-unit Strong Value Opportunity is a Quadruplex listed at $1,900,000—positioned well below the $2,069,205 Fair Market Value by 8%. This valuation gap offers $169,205 in Instant Equity. With a Condition Rating of 3, the asset features copper supply lines and dual-paned vinyl windows. The property offers significant upside through an interior renovation program to capture an 11.5% loss-to-lease. This is an ideal acquisition for Buy-and-Hold Investors or Value-Add Investors seeking a stable, income-producing asset in a prime Peninsula location.
Estimated Market Value
$2,069,204+$169,204 Equity Potential
Based on Realkey algorithm analyzing recent comparable sales in San Mateo.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 414 E 16th Avenue Subject 0 bd · 0 ba · 3,325 sqft · $622 | $1,900,000* List Price | 0 | 0 | 3,325 | $622 | - |
A 1017 10th Avenue Sold 0 bd · 0 ba · 2,799 sqft · $607 · 0.6 mi | $1,700,000 | 0 | 0 | 2,799 | $607 | 0.6 mi |
B 1028 S Idaho Street Sold 0 bd · 0 ba · 2,097 sqft · $736 · 0.5 mi | $1,543,000 | 0 | 0 | 2,097 | $736 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
While built in 1959, the property is well-maintained with significant system upgrades including copper supply lines and dual-paned vinyl windows. The kitchen shows a modern renovation with stainless steel appliances, shaker cabinets, and LVP flooring, though the listing suggests a light renovation budget is still applicable to reach peak market rents.
PROSSTRENGTHS & OPPORTUNITIES
- Significant Value-Add Potential
The property presents a substantial upside opportunity with an 11.5% loss-to-lease; a projected $18,750 per unit renovation could drive rents to $2,750, a 15.8% premium over current market rates.
- Prime Peninsula Location
Strategically located in Hayward Park near major employers like Meta, Oracle, and Sony, with excellent transit access via Highway 101, I-280, and the nearby Hillsdale Caltrain station.
- Updated Building Systems
The asset features durable copper supply lines and building-wide dual-paned vinyl windows, offering a solid infrastructure foundation that reduces immediate deferred maintenance for a new investor.
CONSRISKS & DEFICIENCIES
- Below-Market Cash Flow
Current in-place rents average only $2,129 per unit, meaning the asset is currently underperforming its income potential until lease expirations or renovations occur.
- Immediate Capital Requirement
To achieve the projected pro-forma rents, a new owner must be prepared to deploy significant upfront capital for the interior renovation program across all four units.
About 414 E 16th Avenue
414 E 16th Ave (the Property) is a four-unit multifamily asset built in 1959, situated on a two-story, slab-on-grade structure of stucco and wood construction in San Mateo's Hayward Park submarket. The Property features a unit mix of two (2) studio floorplans and two (2) one-bedroom/one-bathroom floorplans, averaging 775 square feet. The Property is 100% occupied as of August 2026. The Property offers a new owner a rare combination in this submarket: a fully occupied, free and clear fourplex with copper supply lines, dual-paned vinyl windows building-wide, on-site laundry, and covered tuck-under parking. In-place rents average $2,129 per unit, against market rents of $2,375 per unit, a loss-to-lease of 11.5%. A light interior renovation program, budgeted at $18,750 per unit, supports renovated rents of $2,750 per unit, or a 15.8% premium to current market. The Property's location places residents between Highway 101 and Interstate 280, within a short drive of Peninsula employers including Sony Interactive Entertainment, Roblox, GoPro, and Franklin Templeton in San Mateo, Oracle in Redwood Shores, and Meta in Menlo Park. Hillsdale Caltrain and the Bay Meadows mixed-use development are both nearby, and Hillsdale Shopping Center provides additional dining and retail options.
Property Details
Public Facts
- Property Type
- Quadruplex
- Year Built
- 1959
- Lot Size
- 5,789 Sq. Ft.
Interior
- Total Bedrooms
- 0
- 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 |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,325 | 2,799 |
| Lot Size | 5,789 | 4,800 |
| Price | $1.90M | $1.60M |
| Price per sq ft | $571 | $517.1K |
| Built year | 1959 | 1939 |
| HOA | $0 | $0 |
| Days on market | 38 | 39 |
Pricing History
Listed for Sale
Sep 16, 2026
$1,900,000
Initial Listing
Sold
May 1, 2024
$2,925,000
Public Record