422 Peninsula Avenue, San Mateo, California 94401, San Mateo, 94401 - bed, bath

422 Peninsula Avenue, San Mateo, California 94401 home-pic-0
ACTIVE$2,200,000
422 Peninsula Avenue, San Mateo, California 94401
0Bed
0Bath
3,450Sqft
6,098Lot
Year Built
1954
Close
-
List price
$2.2M
Original List price
$3.5M
Price/Sqft
$638
HOA
-
Days on market
-
Sold On
-
MLS number
ML82027074
Home ConditionPoor
Features
Patio
View-

About this home

We found 4 Cons,5 Pros. Rank: price - $2.20M(50th), sqft - 3450(50th), beds - undefined(50th), baths - undefined(50th).

Office building permissible for preschool, school, medical, lab, wide variety of purposes including 3 residential, new housing dev. Use as triplex requires adding showers, other improvements. For Lease or Sale. Reception, 9 Private Offices, 1 Large Conference Room, 3 x 2 Restrooms, Break Room, Outdoor Patio 1/2 mile, Walking Distance to Burlingame Caltrain. Zoning Summary: Administrative, executive, and professional offices, provided that the professional offices are limited to those professions listed in Section 5.24.160: accountant, appraiser, architect, assayer, attorney, auditor, bacteriologist, certified public accountant, chemist or laboratory specialist or operator, chiropodist, chiropractor, civil engineer, dental laboratory specialist or operator, dentist, electrical engineer, geologist, hydraulic engineer, medical laboratory specialist or operator, oculist, optician, optometrist, osteopath, physician, structural engineer, surgeon, surveyor, and veterinarian (check for kennel). Retail of goods and services, Restaurants, Health and recreation, Schools, day care, Financial, business offices, laboratories. Warehousing, storage, and distribution. Residential, R3 multi-family. Special Uses: clubs, hotels, religious, kennel, community center, schools.

Nearby schools

4/10
San Mateo Park Elementary School
Public,K-50.7mi
6/10
Baywood Elementary School
Public,K-51.8mi
2/10
Horrall Elementary School
Public,K-52.0mi
5/10
Meadow Heights Elementary School
Public,K-53.0mi
5/10
Beresford Elementary School
Public,K-53.1mi
4/10
Laurel Elementary School
Public,K-53.7mi
6/10
Borel Middle School
Public,6-82.1mi
7/10
Bayside S.T.E.M. Academy
Public,6-82.4mi
4/10
Abbott Middle School
Public,6-83.7mi
7/10
San Mateo High School
Public,9-120.3mi

Price History

Date
Event
Price
11/27/25
Price Change
$2,200,000-37.1%
11/07/25
Listing
$3,500,000
10/18/10
Sold
$885,000
04/04/97
Sold
$385,000
Condition Rating
Poor

Built in 1954, this property is currently configured as an office building. While maintained for commercial use, its conversion to residential (triplex) would require substantial repairs and rehabilitation. The existing 'kitchen' is a very basic commercial kitchenette, not a full residential kitchen, and the bathrooms are commercial-style lacking showers, which are explicitly noted as needing to be added. The property's description highlights 'Aging Infrastructure' and 'Substantial Residential Conversion Costs,' indicating major systems and amenities require significant updates to meet modern residential standards.
Pros & Cons

Pros

Exceptional Zoning Flexibility: The property boasts highly versatile zoning (R3 multi-family, commercial, medical, educational, retail) allowing for diverse income streams or redevelopment opportunities.
Strategic Transit-Oriented Location: Situated within walking distance (0.5 miles) of the Burlingame Caltrain station, offering excellent connectivity and appeal for both commercial and residential uses.
Significant Price Adjustment: A substantial price reduction from $3.5M to $2.2M presents a compelling value proposition and potential for a favorable acquisition.
Immediate Commercial Utility: The existing layout with 9 private offices, conference room, reception, and amenities makes it readily usable for various commercial tenants.
High Redevelopment Potential: The R3 multi-family zoning explicitly permits conversion to a triplex or new housing development, aligning with strong market demand for residential units in San Mateo.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 5929.
Substantial Residential Conversion Costs: Transforming the current office space into residential units (e.g., triplex) will necessitate significant capital expenditure for structural modifications and amenity additions (e.g., showers).
Aging Infrastructure: As a 1954-built property, it likely requires updates to systems (HVAC, electrical, plumbing) and general modernization to meet contemporary standards and tenant expectations.
Misalignment of Current Use and Listed Type: The property is listed as 'Residential Income / Triplex' but is currently an office building, which could create ambiguity and require clear communication regarding its current state and future potential.

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