NOT LISTED FOR SALE

933 Florence Ln Menlo Park, CA 94025

Downtown Menlo Park Neighborhood

Estimated Value: $3,107,000 - $3,262,000

8 Beds
8 Baths
4,080 Sq Ft
$786/Sq Ft Est. Value

Sale Details

Date Sold: September 8, 2025

Last sale price $3,250,000 $797 Per Sq Ft

Current estimated payment $18,564 / mo

97 Days on Market

Highlights

  • Deck
  • Balcony
  • 4 Car Attached Garage
  • Oak Knoll Elementary School Rated A
  • Enclosed Patio or Porch
  • 4-minute walk to Jack W. Lyle Park

About This Home

As of September 2025

Welcome to 933 Florence Lane, a 4,080 SqFt fourplex located in the heart of Downtown Menlo Park walking distance to Caltrain and Santa Cruz Avenue. All units are two-bedroom/two-bathroom and have private outdoor space and a one-car garage and tandem parking space. The current owner and his family built the property in 1964. Recent improvements include new electrical panels, copper plumbing, dual pane windows, central heating systems, and exterior paint. Opportunity to add value by renovating the unit interiors with luxury finishes and installing air conditioners, electric car chargers, and in-unit laundry to meet the demand of high-income technology employees. Additionally, a new owner can create accessory dwelling units through garage conversions. The property is located near to Stanford Shopping Center, Stanford University, Stanford Hospital, VC Firms on Sand Hill Road, and Meta's headquarters. The strong rent growth, shortage of housing units, proximity to hi-tech employers employers, and value-add and ADU potential make 933 Florence Lane a great opportunity for both the cash flow and appreciation-minded investor. Offering Memorandum available. Cap Rate: 2.42% (Current), 4.61% (Market). GRM: 24.2 (Current), 15.51 (Market). Monthly Rent: $12,050 (Current), $18,800 (Market).

Last Agent to Sell the Property

Ismael Benhamida

Compass License #01722847 Listed on: 04/28/2025

Compass

Co-Listed By

Hanna John Azar

Compass License #02005698

Last Buyer's Agent

Marshall Ward

Marcus & Millichap Real Estate License #01919391

Marcus & Millichap Real Estate

Property Details

Home Type

  • Multi-Family

Year Built

  • 1964

Lot Details

  • 7,436 Sq Ft Lot
  • Fenced
  • Grass Covered Lot
  • Back Yard

Parking

  • 4 Car Attached Garage
  • Off-Street Parking
  • Assigned Parking

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Shingle Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,080 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Storage Room

Flooring

  • Carpet
  • Tile

Laundry

  • Laundry Room
  • Washer and Dryer

Outdoor Features

  • Balcony
  • Deck
  • Enclosed Patio or Porch

Utilities

  • Forced Air Heating System
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $144,600

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $2,800
  • Maintenance Expense $3,000
  • Other Expense $1,161
  • Utility Expense $8,995
  • Trash Expense $3,188
  • Operating Expense $60,137
  • Gross Income $141,271

Property Details

Home Type

Multi-Family

Year Built

1964

Lot Details

7,436 Sq Ft Lot

Parking

4

Listing Details

  • Zoning: R3
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4080
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1964

Interior Features

  • Living Sq Ft: 4080
  • Stories: 2
  • Laundry: Washer / Dryer
  • Flooring: Carpet, Tile
  • Additional Rooms: Laundry Room, Storage

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition, Shingle
  • Yard/Grounds: Back Yard, Balcony / Patio, Deck, Fenced, Low Maintenance, Porch - Enclosed
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 4
  • Parking Spaces: 4
  • Garage Parking Features: Assigned Spaces, Attached Garage, Covered Parking, Off-Street Parking

Utilities

  • Cooling System: Ceiling Fan
  • Heating System: Central Forced Air - Gas
  • Sewer/Septic System: Sewer - Public

Schools

  • High School: 658

Lot Info

  • Lot Acres: 0.1707
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 7436.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 7436.00

Rental Info

  • Existing Lease Term(s): Lease Agreement - Written, Month To Month, Security Deposit
  • Gross Rent Multiplier: 24.03
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 2800
  • Expense Landscape: 1200
  • Expense Maintenance: 3000
  • Expenses Other: 1161
  • Expenses Total: 60137
  • Expenses Utility: 8995
  • Expense Trash: 3188
  • Income Annual Gross: 141271.00
  • Income Annual Rental: 144600
  • Income Gross Scheduled: 145640
  • Income Includes: Laundry, Owners Unit Rental, Parking, Rents
  • Income Other: 1040
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Contract Services, Depreciation, Equipment/Fixture Rental, Fee - Property Tax, Fee - Rent/Lease, Insurance, Maintenance, Maintenance - Capital Improvements, Services - Sewer, Services - Trash Removal, Utilities, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 28, 2025
Closed on
Aug 14, 2025
Sold by
Paul D Murphy Trust and Murphy Paul D
Bought by
Chan Kelvin K
Seller's Agent
Ismael Benhamida
Compass
Buyer's Agent
Marshall Ward
Marcus & Millichap Real Estate
List Price
$3,500,000
Sold Price
$3,250,000
Premium/Discount to List
-$250,000
-7.14%
Views
36
Current Estimated Value
$3,237,708

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$12,292
Avg. Annual Appreciation
-2.17%
Original Mortgage
$1,500,000
Outstanding Balance
$1,492,986
Interest Rate
6.38%
Mortgage Type
New Conventional
Estimated Equity
$1,713,811

Purchase Details

Closed on
May 14, 2021
Sold by
Murphy Linda K
Bought by
Murphy Paul D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,200,000
Interest Rate
3.1%
Mortgage Type
New Conventional

Purchase Details

Closed on
Mar 4, 2021
Sold by
Murphy Paul D
Bought by
Paul D Murphy Trust and Murphy

Purchase Details

Closed on
Apr 17, 2020
Sold by
Murphy Covert and Bypass Trust Under Paul C Murp
Bought by
Murphy Paul D

Purchase Details

Closed on
Feb 6, 2020
Sold by
Murphy Paul D and The Mildred Murphygst Exempt T
Bought by
Murphy Paul D

Purchase Details

Closed on
Aug 30, 2016
Sold by
Murphy Patsy Regin
Bought by
Murphy Patsy Regin

Purchase Details

Closed on
Jan 18, 2011
Sold by
Murphy Paul C
Bought by
Murphy Paul C and Murphy Patsy Regin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$408,000
Interest Rate
4.82%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 9, 2003
Sold by
Murphy Paul C and Murphy Patsy Regin
Bought by
Murphy Paul C and Murphy Patsy Regin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
5.61%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Jan 3, 2003
Sold by
Murphy Paul C and Murphy Patsy Regin
Bought by
Murphy Paul C and Murphy Patsy Regin

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$450,000
Interest Rate
6.06%

Purchase Details

Closed on
Mar 25, 2002
Sold by
Murphy Paul C
Bought by
Murphy Paul C and Murphy Patsy Regin

Purchase Details

Closed on
Oct 31, 2001
Sold by
Murphy Paul C and Murphy Covert J
Bought by
Murphy Paul C and Murphy Patsy Regin
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Chan Kelvin K $3,250,000 Chicago Title Company
Murphy Paul D -- New Title Company Name
Paul D Murphy Trust -- None Listed On Document
Murphy Paul D -- None Available
Murphy Paul D -- None Available
Murphy Patsy Regin -- None Available
Murphy Paul C -- Old Republic Title Company
Murphy Paul C -- Old Republic Title Company
Murphy Paul C -- Old Republic Title Company
Murphy Paul C -- Financial Title Company
Murphy Paul C -- Financial Title Company
Murphy Paul C -- Financial Title Company
Murphy Paul C -- Financial Title Company
Murphy Paul C -- --
Murphy Paul C -- --
Murphy Paul C -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Chan Kelvin K $1,500,000
Previous Owner Murphy Paul D $1,200,000
Previous Owner Murphy Paul C $408,000
Previous Owner Murphy Paul C $450,000
Previous Owner Murphy Paul C $450,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
09/08/2025 09/08/25 Sold $3,250,000 -7.1% $797 / Sq Ft
08/04/2025 08/04/25 Pending -- -- --
04/28/2025 04/28/25 For Sale $3,500,000 -- $858 / Sq Ft
Source: MLSListings

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $15,364 $758,966 $300,131 $458,835
2023 $15,364 $729,500 $288,479 $441,021
2022 $14,528 $715,198 $282,823 $432,375
2021 $14,086 $701,177 $277,279 $423,898
2020 $13,889 $693,991 $274,438 $419,553
2019 $13,588 $680,386 $269,058 $411,328
2018 $13,153 $667,048 $263,784 $403,264
2017 $12,798 $653,971 $258,613 $395,358
2016 $12,298 $641,150 $253,543 $387,607
2015 $11,990 $631,522 $249,736 $381,786
2014 $11,550 $619,153 $244,845 $374,308
Source: Public Records

Agents Affiliated with this Home

  • Ismael Benhamida

    Seller's Agent in 2025

    Ismael Benhamida

    Compass

    (408) 373-6195

    1 in this area

    42 Total Sales

    Ismael Benhamida
    Section Image
  • Hanna John Azar

    Seller Co-Listing Agent in 2025

    Hanna John Azar

    Compass

    (650) 314-7200

    1 in this area

    20 Total Sales

    Hanna John Azar
    Section Image
  • Marshall Ward

    Buyer's Agent in 2025

    Marshall Ward

    Marcus & Millichap Real Estate

    (415) 532-3161

    1 in this area

    4 Total Sales

    Marshall Ward
    Section Image
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Map

Source: MLSListings

MLS Number: ML82004513

MLSListings

APN: 071-302-040

California San Mateo County Menlo Park 94025 Downtown Menlo Park

933 Florence Ln, Menlo Park, CA

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