109-111 Hobart Ave, San Mateo CA 94402 — Sale in San Mateo, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: San Mateo, CA 94402

Photos

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Description

109-111 Hobart is a prime duplex investment opportunity located in the thriving city of San Mateo, California. Situated on a 8,752 square foot parcel of land, the subject property was originally constructed in 1948 and features a gross building size of 3,686 square feet, offering beautifully designed three-bedroom floor plans. Each unit is separately metered for utilities, providing flexibility to operate the property as either a traditional multifamily investment or an owner-user opportunity. The subject property is equipped with two attached car garages, one patio and a spacious backyard. San Mateo is strategically located between San Francisco and San Jose. The city is well situated and offers an ideal climate in a robust and successful community and region. San Mateo offers a vibrant business and retail environment with several major shopping centers and an active downtown area. Many notable attractions in the city include the many street retailers lined along North El Camino Real, the popular Hillsdale Shopping Center, and San Mateo Medical Center. 109-111 Hobart Ave is within one mile to San Mateo Central Park and Downtown San Mateo, featuring a myriad of high-end shopping, dining and entertainment options. The subject property is also located within close proximity to the major transportation corridors of U.S. Highway 101, California State Route 92, the San Mateo Caltrain Station, and the major thoroughfare of El Camino Real. These transportation hubs provide tenants and residents with convenient access to San Francisco and San Jose and provides close proximity to many of the nation's top tech employers including Google, Facebook, Stanford, Box Inc., Visa, Sony as well as many others. The investment appeal of this asset is driven by San Mateo's strong employment fundamentals and low vacancy levels. With a world class location in the heart of San Mateo, 109-111 Hobart Ave presents an attractive choice for renters due to its close proximity to shopping, dining

Market Context

This multifamily in San Mateo, CA is listed for sale. Compare it against other multifamily listings for sale in San Mateo, CA — view the full market.

As of Q4 2025, the San Francisco Peninsula multifamily market showed a 4.6% vacancy rate, average asking rents near $3300.00/unit/mo, rents up 5.9% year over year, and cap rates around 4.5%. Source: Matthews Q4 2025 market report.

Rising rents point to a competitive market where well-priced, well-located assets trade quickly.

Multifamily market FAQ

What is the typical cap rate for multifamily in San Francisco Peninsula?
About 4.5% as of Q4 2025, per Matthews.
Is the San Francisco Peninsula multifamily market tightening or softening?
Vacancy is around 4.6%, with asking rents rising year over year (Q4 2025).

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