Turnkey 7-Unit Apartment – Downtown San Mateo 518 19th Ave Immeuble residentiel 7 lots 2 085 171 € (297 882 €/Lot) Taux de capitalisation 4,03 % San Mateo, CA 94403

Fully renovated 7-unit multifamily in prime San Mateo location near Downtown & Caltrain. Strong in-place income, covered parking, and clear rent growth upside. Offered at $2.45 M | 4.27% Cap.
518 19th Avenue is a turnkey 7-unit apartment building in the heart of San Mateo, just minutes from Downtown and Caltrain. Built in 1958 and situated on a 7,841 SF lot, the 5,440 SF property features (4) spacious 1-bed/1-bath units and (3) large studio apartments, each with covered carport parking. Six of seven units have been fully renovated with modern finishes, dual-pane windows, and updated interiors that attract long-term tenants.
Current rents range from $1,795 – $2,350 with market potential to $2,995, providing a compelling rent-growth story and stable cash flow. At a 4.27% cap rate and $450 per SF, this asset delivers immediate returns with long-term value in one of the Peninsula’s strongest rental corridors.
• Quiet residential pocket south of Downtown San Mateo
• Near El Camino Real, Caltrain, and Hwy 101 / 280 / 92
• Close to Hillsdale Shopping Center & Bay Meadows employers
• Six of seven units renovated (turnkey condition)
• 1:1 covered parking for all units + laundry income
• Energy-efficient dual-pane windows and low-maintenance systems
• Membership to Fiesta Gardens Clubhouse and pool