608 Peninsula Avenue, Burlingame, California 94010, Burlingame, 94010 - 4 bed, 2 bath
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Burlingame, California 94010
This R-3 Zoned Development Asset represents a Prime Investment Opportunity with a List Price of $1,650,000—positioned well below the $1,703,982 Fair Market Value by 3%. This valuation gap offers $53,982 in Instant Equity for buyers. With a Condition Rating of 5, the property requires a complete rehabilitation but offers massive upside via its multi-unit zoning and 5,026 sqft lot. Located steps from downtown Burlingame, this is a rare value-add acquisition for Developers or Fix-and-Flip Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 608 Peninsula Avenue Subject | $1,650,000* List Price | 4 | 2 | 1,590 | $1,072 | - |
A 105 Arundel Road Pending | $1,800,000 List Price | 4 | 2 | 1,598 | $1,126 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1912 and offered for the first time in 50 years, this property is in mostly original condition and requires a complete rehabilitation. The interior features highly outdated pink tile countertops, vintage bathroom fixtures, aged wood-paneled walls, and old carpeting. The presence of ceiling tiles and dated wall heaters suggests that major systems (electrical, plumbing, and HVAC) likely need full replacement to meet modern standards. The listing itself emphasizes the property's 'good bones' and R-3 development potential, confirming that the value lies in the land or a total renovation rather than its current state.
The R-3 zoning offers a rare and lucrative opportunity for multi-unit development or high-density residential projects in a premier Burlingame corridor.
Situated steps from vibrant downtown Burlingame with immediate access to Highway 101, El Camino Real, and SFO, providing exceptional convenience for commuters.
Offered for the first time in 50 years, this property represents a unique 'blank canvas' with significant long-term appreciation potential in a highly coveted area.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1590, other record living area = 1200.
Built in 1912 and held for decades, the home likely requires substantial capital investment to modernize its systems and interior finishes to current market standards.
Located on Peninsula Avenue, a major thoroughfare, the property is subject to higher noise levels and traffic volume compared to more secluded residential streets.
Once-in-a-generation opportunity on the Peninsula. 608 Peninsula Ave hits the market for the first time in 50 years, offering an exceptional R-3 zoned parcel in one of Burlingames most coveted corridors. Good bones, ideal for investors, developers, or an owner-occupant looking to capitalize on future upside. Steps to vibrant downtown Burlingame, with effortless access to Hwy 101, El Camino Real, and SFO. Don't miss this one, opportunities like this don't come twice.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 2.0 | 3.0 | 29% |
| Square foot | 1,590 | 2,735 | 20% |
| Lot Size | 5,026 | 8,265 | 9% |
| Price | $1.65M | $3.85M | 4% |
| Price per sq ft | $1.0K | $1.6K | 6% |
| Built year | 1912 | 1947 | 5% |
| HOA | $0 | $0 | 50% |
| Days on market | 32 | 94 | 12% |
Mar 21, 2026
$1,650,000
Initial Listing