Four-Unit Residential
For Sale
$3,100,000
929 Alice LN, Menlo Park, CA 94025
The property includes tenant-paid utilities and residences ranging from one to three bedrooms.
Property Size3,168 SF
Days on Market52
Property Features for 929 Alice LN
General Information
Standard status
Active
Size
3,168 SF
Property subtype
Fourplex
Units
Unit Mix
1 x 3BR/2BA, 2 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$13,364
Building Details
Building Size
3,168 SF
Year Built
1949
Listing Agency:
Coldwell Banker Realty
Listed By:
Hossein Jalali · License #01215831
(650) 740-2233
Source:
Lynnnorth
Added: Sep 14
Changed: Oct 31
Last Checked: Nov 3 at 12:05PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
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Investment Insights
Based on property information with market context.
Built in 1949, this four-unit residential property offers a varied unit mix: one three-bedroom, two-bath residence, two one-bedroom, one-bath residences, and one two-bedroom, one-bath residence. Utility costs are paid by the tenants. The property has remained in the same family for approximately 42 years.
The building sits on a cul-de-sac in Menlo Park, within walking distance of Downtown Menlo Park and with access to Downtown Palo Alto. Stanford University, Menlo College, Sacred Heart Preparatory, and Menlo-Atherton High School are also located nearby. The property is suitable for an investor or an owner-occupier based on the uses identified in the listing information.
The building sits on a cul-de-sac in Menlo Park, within walking distance of Downtown Menlo Park and with access to Downtown Palo Alto. Stanford University, Menlo College, Sacred Heart Preparatory, and Menlo-Atherton High School are also located nearby. The property is suitable for an investor or an owner-occupier based on the uses identified in the listing information.
Key Highlights
- Four residential units with one 3‑bedroom, 2‑bath unit, two 1‑bedroom, 1‑bath units, and one 2‑bedroom, 1‑bath unit
- Tenants pay utility costs
- Built in 1949
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,061
Cap Rate
2.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,220
$1.8M
Cap Rate 7%
$1,315,157
$1.3M
Cap Rate 9%
$1,022,900
$1.0M
Market Conditions
NOI Build-Up for 3,168 SF
Gross rent
$140.7K $44.40/SF
− Vacancy
−$9.1K −$2.89/SF
EGI
$131.5K $41.51/SF
− OpEx
−$39.5K −$12.45/SF
NOI
$92.1K $29.06/SF
Area
San Mateo County, CA
Vacancy
6.50%
Lease Rate
$44.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,841,220
Cap Rate 7%
$1,315,157
Cap Rate 9%
$1,022,900
Alternative Uses
Best Use
Multifamily LT 5
$1.32M
$1.15M – $1.53M
NOI $92,061 @ 7.0% cap · market cap 2.97%
Second Best
Apartment 5plus
$1.23M
$1.08M – $1.44M
NOI $86,224 @ 7.0% cap · market cap 2.78%
Theoretical Best
Warehouse
$2.52M
$2.20M – $2.94M
NOI $176,147 @ 7.0% cap · market cap 5.68%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
3,640
Businesses Nearby
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Business Placement
Demographics for 94025, CA
42,354
Population
16,259
Households
2.6
Avg Household Size
39
Median Age
73%
College-Educated
94%
High-School Grad
8.4 sq mi
ZIP Area
5,042
Density / Sq Mi
$215,871
Median Household Income
$98,160
Median Earnings
$3,169
Median Rent
$2,000,001
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - The property includes tenant-paid utilities and residences ranging from one to three bedrooms.
Where is this quadplex located?
The property is located at 929 Alice LN Menlo Park, CA.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Four residential units with one 3‑bedroom, 2‑bath unit, two 1‑bedroom, 1‑bath units, and one 2‑bedroom, 1‑bath unit; Tenants pay utility costs; Built in 1949
