NOT LISTED FOR SALE

934 Oak Ln Menlo Park, CA 94025

Downtown Menlo Park Neighborhood

Estimated Value: $3,170,000 - $3,622,435

8 Beds
4 Baths
4,156 Sq Ft
$819/Sq Ft Est. Value

Last Sold October 11, 2023

Last sale price $3,150,000 $758 Per Sq Ft

Est. 8% increase in value since last sale

Current estimated payment $21,591/month

8 Days on Market

Highlights

  • Wood Flooring
  • Tandem Parking
  • Floor Furnace
  • Oak Knoll Elementary School Rated A

About This Home

As of October 2023

TROPHY FOURPLEX IN DOWNTOWN MENLO PARK! 934 Oak Lane offers an investor an outstanding apartment property or an owner-occupier an ideal opportunity in the heart of downtown Menlo Park in a quiet residential neighborhood. All units are spacious Two-Bedroom / One-Bath apartments over 1,000 SF with great in-place rents. There are significant recent interior & common area capital improvements including all new kitchens & baths within the past 5 years. All units benefit from gorgeous hardwood floors. A rear patio area is accessible to all units and tenants enjoy extra storage lockers and an on-site laundry facility. A new owner can add value through the addition of an ADU and R3 Zoning with the city's commitment to more housing allows for more density in this district. 934 Oak is strategically positioned in an irreplaceable location in one of the most sought after locations in the country.

Last Agent to Sell the Property

Matthew Thomson

Newmark Cornish & Carey License #01471708 Listed on: 09/12/2023

Newmark Cornish & Carey

Co-Listed By

Bryan Danforth

Newmark Cornish & Carey License #01789680

Last Buyer's Agent

Matthew Thomson

Newmark Cornish & Carey License #01471708 Listed on: 09/12/2023

Newmark Cornish & Carey

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $41,539

Year Built

  • 1948

Lot Details

  • 8,625

Home Design

  • Quadruplex
  • Shingle Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,156 Sq Ft Home
  • 2-Story Property
  • Wood Flooring
  • Security Lights

Parking

  • 6 Parking Spaces
  • 4 Carport Spaces
  • Tandem Parking

Utilities

  • Floor Furnace
  • Wall Furnace
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $164,940

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $2,800
  • Insurance Expense $2,238
  • Maintenance Expense $2,000
  • Other Expense $1,000
  • Utility Expense $5,387
  • Operating Expense $55,145
  • Gross Income $159,992

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$41,539

Year Built

1948

Lot Details

0

Listing Details

  • Zoning: R30000
  • Subclass: Fourplex
  • Age: 75
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4156
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1948

Interior Features

  • Living Sq Ft: 4156
  • Stories: 2
  • Security: Security Lights
  • Flooring: Hardwood

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition, Shingle
  • Construction Type: Wood

Garage/Parking

  • Parking Spaces: 6
  • Garage Parking Features: Carport, Tandem Parking
  • Carport Min: 4

Utilities

  • Heating System: Floor Furnace, Gas, Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Sequoia Union High

Lot Info

  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 8526.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 8526.00

Rental Info

  • Existing Lease Term(s): Less Than 1 Yr
  • Gross Rent Multiplier: 19.55
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 2238
  • Expense Landscape: 2800
  • Expense Maintenance: 2000
  • Expenses Other: 1000
  • Expenses Total: 55145
  • Expenses Utility: 5387
  • Income Annual Gross: 159992.00
  • Income Annual Rental: 164940
  • Income Gross Scheduled: 164940
  • Income Includes: Rents
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Sep 12, 2023
Closed on
Oct 3, 2023
Sold by
Oak Lane Investments Llc
Bought by
Dakin Towers Llc
Seller's Agent
Matthew Thomson
Newmark Cornish & Carey
Buyer's Agent
Matthew Thomson
Newmark Cornish & Carey
List Price
$3,225,000
Sold Price
$3,150,000
Premium/Discount to List
-$75,000
-2.33%
Views
17
Current Estimated Value
$3,402,609

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$252,609
Avg. Annual Appreciation
3.68%

Purchase Details

Closed on
Jun 10, 2013
Sold by
Pollock John H and Lannin Sara P
Bought by
Oak Lane Investments Llc

Purchase Details

Closed on
Jul 28, 2011
Sold by
Lannin Sara P
Bought by
Lannin Sara P

Purchase Details

Closed on
Apr 12, 2011
Sold by
Pollock Norma Haegg
Bought by
Pollock John H and Lannin Sara P

Purchase Details

Closed on
Dec 31, 2008
Sold by
Pollock Norma Haegg
Bought by
Pollock John H and Lannin Sara P

Purchase Details

Closed on
Jun 20, 2007
Sold by
Pollock Donald W and Pollock Norma H
Bought by
Pollock Donald W
Source: Public Records

Range of Values:

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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
Dakin Towers Llc $3,150,000 Lawyers Title Company
Oak Lane Investments Llc -- None Available
Lannin Sara P -- None Available
Pollock John H -- None Available
Pollock John H -- None Available
Pollock Donald W -- None Available
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/11/2023 10/11/23 Sold $3,150,000 -2.3% $758 / Sq Ft
09/21/2023 09/21/23 Pending -- -- --
09/12/2023 09/12/23 For Sale $3,225,000 -- $776 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

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 $41,539 $3,213,000 $2,458,200 $754,800
2023 $41,539 $761,284 $370,942 $390,342
2022 $14,874 $746,358 $363,669 $382,689
2021 $14,428 $731,725 $356,539 $375,186
2020 $14,230 $724,223 $352,884 $371,339
2019 $13,924 $710,023 $345,965 $364,058
2018 $13,482 $696,102 $339,182 $356,920
2017 $13,123 $682,454 $332,532 $349,922
2016 $12,617 $669,073 $326,012 $343,061
2015 $12,307 $659,023 $321,115 $337,908
2014 $11,863 $646,114 $314,825 $331,289
Source: Public Records

Agents Affiliated with this Home

  • M

    Seller's Agent in 2023

    Matthew Thomson

    Newmark Cornish & Carey

    Section Image

  • B

    Seller Co-Listing Agent in 2023

    Bryan Danforth

    Newmark Cornish & Carey

    Section Image
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Map

Source: MLSListings

MLS Number: ML81941647

MLSListings

APN: 071-272-470

California San Mateo County Menlo Park 94025 Downtown Menlo Park

934 Oak Ln, Menlo Park, CA

This home is located at 934 Oak Ln, Menlo Park, CA 94025 since 12 September 2023 and is currently estimated at $3,402,609, approximately $818 per square foot. This property was built in 1948. 934 Oak Ln is a home located in San Mateo County with nearby schools including Oak Knoll Elementary School, Hillview Middle School, and Menlo-Atherton High School.

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