1990 S El Camino Real 0.32 Acres of Commercial Land Offered at $8,880,000 in San Mateo, CA 94403

Property Description: Prime Mixed-Use Development with In-Place Income | 1990 S. El Camino Real, San Mateo, CA 94403 Presenting a rare "covered land play" in the heart of the San Francisco Peninsula. This high-visibility corner lot offers the unique combination of immediate cash flow and a clear, high-density development path. While the property currently operates as a successful location for a well-known, high-traffic taco truck chain, it is simultaneously advancing through the City of San Mateo’s entitlement process for a flagship mid-rise community. Current Operations & Income The site is currently leased to a premier, well-known taco trunk business, providing the owner with steady rental income to offset holding costs during the entitlement phase. This established use ensures consistent daily foot and vehicle traffic, highlighting the site’s strategic importance along the El Camino Real commercial corridor. Development Vision: "El Camino Terraces" The property is in the advanced stages of the entitlement process (PA-2026-0004) under SB 330 and the State Density Bonus, shielding the developer from density reductions and providing a streamlined approval timeline. Total Units: 43 Modern Residential Units (9 1BR, 30 2BR, 4 3BR). Affordability: 5 Low-Income units included to maximize density and streamline permitting. Retail Component: ~2,640 SF of ground-floor retail space designed to activate the corner of 20th Avenue. Parking: 3 levels of subterranean parking (38 stalls) engineered for maximum site efficiency. Transit-Oriented: Walking distance to Hillsdale Caltrain Station, providing a direct link to San Francisco and Silicon Valley tech hubs. Lifestyle & Amenities: Steps away from the Hillsdale Shopping Center, a premier destination for luxury dining, cinema, and retail (Shake Shack, Apple, Cinépolis).