422 Peninsula Avenue, San Mateo, California 94401, San Mateo, 94401 - bed, bath
422 Peninsula Avenue
San Mateo, California 94401
Property Price
SUMMARY
Analysis of 422 Peninsula Avenue, San Mateo, California 94401 is currently available with a list price of $2,200,000. 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 1954, the property is currently maintained as a functional office space but shows clear signs of age. While move-in ready for commercial use, it requires significant modifications to function as the listed residential triplex, including the installation of showers. Interior features such as fluorescent tube lighting, commercial carpeting, and basic breakroom cabinetry are dated. Additionally, the exterior electrical panels show visible rust and significant age, suggesting that major systems are functional but nearing the end of their typical lifespan without recent comprehensive modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Versatile Zoning
The property features exceptionally flexible zoning that permits a wide range of uses including professional offices, medical labs, schools, retail, and R3 multi-family residential development.
- Transit-Oriented Location
Ideally situated within walking distance (0.5 miles) of the Burlingame Caltrain station, providing excellent connectivity for employees, clients, or future residents.
- Significant Price Improvement
A substantial price reduction from the original $3.5M to $2.2M offers investors a high-value entry point with significant potential for equity growth or higher yield.
CONSRISKS & DEFICIENCIES
- 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.
- Residential Conversion Costs
To utilize the property as a triplex as listed, the buyer must invest in significant improvements, including the installation of showers and other residential amenities not currently present.
- Aging Infrastructure
Built in 1954, the building may require modernization of its core systems, such as HVAC, electrical, and plumbing, to meet the standards of modern medical or laboratory tenants.
About 422 Peninsula Avenue
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.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1954
- Lot Size
- 6,098 Sq. Ft.
Interior
- Total Bedrooms
- -
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
San Mateo Unified Schools
San Mateo Park Elementary School
Grades K-5 • 0.7 mi
Baywood Elementary School
Grades K-5 • 1.8 mi
Horrall Elementary School
Grades K-5 • 2.0 mi
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 50% |
| Baths | - | - | 50% |
| Square foot | 3,450 | 2,776.5 | 75% |
| Lot Size | 6,098 | 6,835 | 50% |
| Price | $2.20M | $1.82M | 75% |
| Price per sq ft | $638 | $658 | 50% |
| Built year | 1954 | 1938 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 120 | 136 | 50% |
Pricing History
Listed for Sale
Nov 27, 2025
$2,200,000
$3,500,000
-37% Price Drop
Initial Listing
Price Change
Nov 7, 2025
$3,500,000
Initial Listing
Sold
Oct 18, 2010
$885,000
Public Record
Sold
Apr 4, 1997
$385,000
Public Record