We are pleased to present 321 Grand Boulevard, San Mateo, a rare triplex investment opportunity in one of the Bay Area’s most desirable markets. 

This well-maintained property, under the same ownership for over 50 years, combines stable in-place income with significant upside potential through unit renovations and the addition of accessory dwelling units (ADUs).

Strategically located near Downtown Burlingame, Downtown San Mateo, SFO, and major commuter routes, this property is ideal for investors, owner-users, or developers seeking long-term appreciation.

Property Highlights:

• Offered at $1,495,000

• Three units: (2) 1-Bed/1-Bath & (1) 2-Bed/1-Bath — all with private yards

• Lot Size: 7,631 SF | Building Size: 1,852 SF

• Current Cap Rate: 3.41% | Pro Forma Cap Rate: 4.95%

• Price per Unit: $498,333 | Price per SF: $807

• Potential to add up to 4 ADUs per feasibility study

• Two buildings on one lot with a carport and off-street parking

• Convenient access to Caltrain, Highway 101, and top employment centers

• Surrounded by vibrant retail, dining, and cultural amenities in San Mateo & Burlingame

This is a unique opportunity to acquire a North Central San Mateo multifamily property with strong current cash flow and multiple value-add strategies.

Contact us today for the full Offering Memorandum or to schedule a private tour.