938 Alice Ln - Apartments FOR SALE


Menlo Park, CA 94025- Downtown Menlo Park
$3,200,000 USD
408-483-5040
938 Alice Ln, Menlo Park, CA for Sale
$3,200,000 USD
Apartments - FOR SALE
1/33
null | 3.77% Cap Rate

938 Alice Ln
Menlo Park, CA 94025
Downtown Menlo Park


HIGHLIGHTS

  • Premier Menlo Park Location
  • Two Duplexes + One Non-Conforming Cottage
  • Gut Renovation 20 Years Ago in Two Units
  • No City Rent Control Regulations
  • Original Owner-Builder, First Time Ever Offered for Sale

OVERVIEW

Contact jcastellanos@marcusmillichap.com for OM. Jimmy Castellanos is pleased to present 938 Alice Lane, a rare opportunity to acquire a well-located multifamily asset in the heart of Menlo Park, one of the Peninsula’s most affluent and supply-constrained rental markets. The property consists of four legal units plus one non-conforming unit across three separate structures. Originally built in 1922, the improvements include a spacious two-bedroom single-family home and four additional one-bedroom units, totaling approximately 4,162 square feet on a 15,301 square foot lot. The property benefits from a low-density residential setting, private garages, strong curb appeal, and long-term tenant demand.

FOR SALE DETAILS

PRICE

$3,200,000 USD

PRICE/SF

$769 USD /SF

# OF UNITS

5

PRICE/UNIT

$640,000

CAP RATE

3.77%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

938 Alice Lane

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1922

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

15,022 SF

ZONING

R3

APN/PARCEL ID

071-302-120

ASK ABOUT THIS PROPERTY

Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

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Jimmy CastellanosMarcus & MillichapMore Info
408-483-5040

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.