401 E Poplar Ave
San Mateo, CA 94401
Station 401 @ Poplar · Multifamily Property For Sale · 31 Units

Marcus & Millichap has been selected to exclusively market for sale Station 401 @ Poplar, a stunning, extensively renovated, 31 unit apartment community located at 401 East Poplar Avenue in the thriving city of San Mateo, California. Situated on 0.69 acres of land, the subject property was originally constructed in 1962 and has a gross livable area of 23,026 total square feet, offering its tenants quality studio and one bedroom apartments to call home. The unit mix consists of fourteen (14) standard studio units, one (1) studio unit with a private backyard, twelve (12) standard one-bedroom/one-bathroom units, one (1) one-bedroom/one-bathroom unit with a private patio and three (3) one-bedroom/one bathroom units with private backyards. Station 401 @ Poplar has recently undergone extensive exterior and interior renovations. The exterior renovations include a spacious new barbeque area, a convenient new playground, new high-end gates, new monument signage, brand new exterior paint scheme with a modern wood facade, and an updated on-site laundry facility. Interior renovations include designer paint schemes, updated kitchens & bathrooms, new dual pane windows, LVT flooring, new doors, recessed lighting, and new wall heaters. San Mateo is among the most affluent and prosperous counties in the nation with the median home price exceeding $1,267,800, placing home ownership out of reach for most residents. Station 401 @ Poplar is centrally located just over half a mile from downtown San Mateo and downtown Burlingame. Downtown San Mateo boasts more than 150 restaurants and bars, nearly 100 shops, a dozen specialty grocers, a movie theater, and the San Mateo Caltrain Station. The downtown area is a cultural, entertainment and economic hub on the Peninsula, offering a vibrant setting for locals and visitors alike to enjoy the weekend farmers’ markets, destination restaurants, and exciting entertainment. Downtown Burlingame is home to over 500 businesses including high-end retailers, the Burlingame Caltrain Station, elegant dining options, and exciting entertainment such as the Sunday Farmer’s Market, Sidewalk Sales, First Friday Live Music, and Fall Fest. Burlingame’s vibrant downtown features unique and upscale shops and restaurants such as the Apple Store, Vineyard Vines, J. Crew, Lululemon, Sur la Table, Pottery Barn, Farm & Vine American Bistro, and Stella Alpina Osteria. Many of the nation’s top tech employers are also within close proximity of the subject property including Oracle, Salesforce, GoPro, Genentech, Thermo Fisher Scientific, Electronic Arts, Inc. (EA), Facebook, Cisco Systems, Visa, Sony as well as many others. The investment appeal of Station 401 @ Poplar is driven by San Mateo’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of the San Francisco Bay Area Peninsula, this asset presents an attractive choice for Peninsula renters due to the close proximity to major employers, transportation corridors, shopping, dining and entertainment.