158-160 E Blithedale Avenue, Mill Valley, CA 94941, Mill Valley, 94941 - 6 bed, 2 bath

158-160 E Blithedale Avenue
Mill Valley, CA 94941
Property Price
SUMMARY
Analysis of 158-160 E Blithedale Avenue, Mill Valley, CA 94941 is currently available with a list price of $2,800,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Mill Valley Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Condition Analysis
OVERALL CONDITION SCORE
Property is moderate renovation needed.
The property, built in 1914, is described as 'well-maintained with updates to units.' However, the images reveal kitchens with dated tile countertops, older appliances (some white, some stainless but not high-end), and painted cabinets. The one residential bathroom shown features a pink tub and dated tile, indicating it is functional but significantly outdated. These elements suggest that while the property is maintained, the 'updates' are likely cosmetic refreshes from 15-30 years ago rather than recent, extensive modern renovations. Minor updates are required to modernize the aesthetics and improve overall appeal, aligning with the 'Fair' condition criteria.
PROSSTRENGTHS & OPPORTUNITIES
- Exceptional Mixed-Use Investment
This is an extremely rare mixed-use opportunity in downtown Mill Valley, featuring 12 total units (six apartments and six office/retail suites) across three buildings, providing diversified income streams and combining lifestyle appeal with strong investment fundamentals.
- Strong Financial Fundamentals & Upside
The property boasts a 5.2 CAP rate, a long history of stable tenancy, and offers significant upside potential through rent growth and modernization. The immediate vacancy of one unit allows for strategic rent adjustment or owner-occupancy.
- Prime Downtown Mill Valley Location
Situated in the heart of Mill Valley, the property benefits from excellent street visibility on a high-traffic corridor for commercial spaces, while residential units are privately tucked away, enhancing tenant desirability in a highly sought-after area.
CONSRISKS & DEFICIENCIES
- Historic Property Age
Built in 1914, despite being well-maintained and having some updates, the property's age may imply potential for future capital expenditures related to aging core infrastructure (e.g., plumbing, electrical systems beyond what's explicitly updated).
- Potentially Low Bathroom-to-Unit Ratio
The listing indicates only 2 bathrooms for 6 residential units, which is an unusually low ratio. This could be a significant functional drawback for tenants, potentially impacting rental appeal or requiring future renovations to improve livability.
- Recent Price Reduction
A recent price reduction from $3,000,000 to $2,800,000 could suggest that the initial pricing was too aggressive or that there has been a lack of strong buyer interest at the higher price point, potentially indicating market resistance.
About 158-160 E Blithedale Avenue
Price reduced! One unit will now be delivered vacant; now a 5.2 CAP. 158-160 E. Blithedale Avenue is an extremely rare mixed-use opportunity in downtown Mill Valley. The property consists of 12 total unitssix apartments and six office/retail suitesacross three buildings totaling approximately 5,760 SF. With a long history of stable tenancy and a strong mix of residential and commercial uses, this asset combines steady in-place income with significant upside potential through rent growth and modernization. Apartments are tucked away off the street for privacy, while retail and office spaces enjoy excellent street visibility on a high-traffic corridor. The property has been well-maintained with updates to units, dual-pane windows, and modern features. Amenities include covered parking, private decks, in-unit laundry in select apartments, and a communal pergola-shaded picnic area that creates a sense of community. Some units enjoy views of the redwoods and surrounding hillsides. This is a rare chance to own a private-feeling income property in the heart of Mill Valley, combining lifestyle appeal with investment fundamentals.
Property Details
Public Facts
- Property Type
- Mixed Use
- Year Built
- 1914
- Lot Size
- 4,138.2 Sq. Ft.
Interior
- Total Bedrooms
- 6
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1914 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Pricing History
Listed for Sale
Jan 31, 2026
$2,800,000
$3,000,000
-7% Price Drop
Initial Listing
Price Change
Sep 19, 2025
$3,000,000
Initial Listing


























