938 Alice Lane Menlo Park, CA ^$ 3,200,000

938 Alice Lane

^$ 3,200,000

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Recently Listed

Open House 6/5 12pm - 1pm

938 Alice Lane

Menlo Park, CA, 94025

^$ 3,200,000

Studio Baths0.0 Sq 4,162

Monthly Estimate*

^$ 19,703

Listed by Marcus & Millichap

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Studio

Multi-Family Home for sale in Menlo Park, CA

for $3,200,000. This 4,162 square foot home was built in 1922 on a lot size of 0.3513.

4-unit cottage style multifamily property + 1 non-conforming 5th unit (two duplexes and one cottage on large 15K+ SF lot in the heart of Menlo Park). 938 Alice Lane is a rare opportunity to acquire a well-located multifamily asset in the heart of Menlo Park, one of the Peninsulas most affluent and supply-constrained rental markets. The property consists of four legal units plus one non-conforming unit across three separate structures. Offered for sale by the original owner/builder, this well-maintained property has been carefully cared for over the years. Two of the units have undergone extensive renovations within the past 20 years, while the remainder of the property continues to showcase its timeless charm and character. It is conveniently located next to University Drive and a short walk to Downtown Menlo Park.

Open House

6/5/2026 12:00 PM - 1:00 PM

6/6/2026 11:00 AM - 1:00 PM

938 Alice Lane Menlo Park, CA

* Some states or local ordinances may prohibit Open Houses at this time, please confirm with your Weichert agent or local rep to confirm

Multi-Family Active

Price

^$ 3,200,000

Bedrooms

Studio

Property Type

Multi-Family

Taxes

^$ 35,065

Style

Lot Size

0.3513

Year Built

1922

Town/City

Menlo Park

County/Region

San Mateo

MLS | Web ID

ML82049437

Days on Market

Features

General

Living Area 4162

Sewer Public Sewer

Heating Central Wall Furnace

Cooling Central Air Wall/Window Unit(s)

Possession Close Of Escrow

Roof Composition Shingle

Zoning R3

Garage Spaces 2

Year Built 1922

Property Subtype Quadruplex

Accessibility None

County San Mateo

Insurance Expense 5500

Property Type Residential Income

HOA false

MaintenanceExpense 3750

Garage Y/N true

Special Listing Conditions Standard

Status Active

High School Menlo-Atherton

City Menlo Park

High School District Other

MLS Area 699 - Not Defined

Lot Size Units Square Feet

Lot Size Square Feet 15301

Carport Spaces 2

Carport Y/N true

Elementary School Oak Knoll

Tax Annual Amount 35065

Middle/Junior High School Hillview

Trash Expense 4869

Standard Status Active

Occupancy Type Tenant

Year Built Source Assessor

Property Sub Type Additional Quadruplex

Cap Rate 3.77

Interior

Total Stories 1

Air Conditioning Y/N true

Heating Y/N true

Total Baths 0

Exterior

Parking Features Carport

Water Source Public

Total Parking 3

Lot Size Area 15301

Foundation Details Concrete Perimeter

Number of Buildings 3

Building Area Total 4162

Lot Size Acres 0.3513

Lot Size Source Assessor

* Excluded Features

List By

Marcus & Millichap

Broker

jimmy.castellanos@marcusmillichap.com

Affordability Calculator

$22,625

Per Month

Monthly Principal & Interest: $19,703
Monthly Property Taxes: $2,922
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Multi-family listings in Menlo Park, CA

Average List Price ^$2,388,000

Percent of Sale Price 25%

About Menlo Park, CA

34,126 Population

10% Since 2002

^$137,641 Median Income

40.44 Median Age

33% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

0 Elementary School

0 Middle School

Menlo-Atherton High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
6/2/2026	$3,200,000		Listed Price

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938 Alice Lane, Menlo Park, CA, 94025 is a Multi-Family Home for sale at $3,200,000 with 4,162 sqft and a lot size of 0.3513. 938 Alice Lane is a studio with 0.0 baths and was built in 1922. The property's zip code is 94025 which is in Menlo Park, CA

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

Listing data provided courtesy of the Internet Data Exchange Program of the California Regional Multiple Listing Service, Inc..

Based on information from California Regional Multiple Listing Service, Inc. as of 6/3/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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938 Alice Lane

Multi-Family Home for sale in Menlo Park, CA

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