
Mill Valley, CA 94941
This Historic Development Asset is a High-Potential Investment Opportunity located in Mill Valley’s Almonte neighborhood. Listed at $2,095,000 with a $2,038,956 Fair Market Value, the property’s primary value is derived from its rare 11,750 Sq Ft Lot and Panoramic Bay Views. Currently holding a Poor Condition Rating, this 1917 farmhouse requires extensive rehabilitation but offers massive upside through a luxury rebuild or the addition of an ADU Potential. This project is a strategic acquisition for Developers or Contractors seeking a high-reward development in Marin.
Property is extensive renovation needed.
The property is explicitly marketed as a 'fixer' and requires substantial rehabilitation. Built in 1917, it exhibits significant deferred maintenance, including visible water damage on the ceilings and blue tarps on the roof indicating active leaks. The kitchen and bathrooms are severely outdated with vintage appliances, exposed plumbing, and aging cabinetry. While the home retains some historic charm, the structural and system-wide needs place it in the poor category.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 11648, living area = 2678.
The property offers sweeping, unobstructed views of the San Francisco Bay and Sausalito, a premium feature that significantly enhances the home's desirability and long-term investment value.
Situated on a rare 11,750+ sq ft lot with substantially level yard areas, this property provides a unique canvas for a luxury restoration, a complete rebuild, or the addition of an ADU in a coveted location.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
Explicitly marketed as a fixer, the property requires a significant capital investment to address modernization, repairs, or a total rebuild to meet contemporary luxury standards.
Built in 1917, the home likely necessitates comprehensive and costly upgrades to major systems, including electrical, plumbing, and insulation, to align with modern building codes and efficiency.
Quintessential vintage Mill Valley farmhouse set on a huge 11,750+- sq ft lot with substantially level areas of yard and panoramic views of the Bay! This home is a fixer with incredible potential. It's an amazing opportunity. It could be lovingly restored or someone might want to tear it down and build a new home and ADU. Set in Tam Valley's Almonte neighborhood, 238 California is one of Mill Valley's well-known historic farmhouses that everyone has driven by at one time or another. This is a special property defined as much by its setting as by its story. Framed by mature Monterey Cypress trees, the home captures sweeping views of the Bay and Sausalito, with natural light pouring through multi-paned windows and a balcony positioned to take in the scenery. The main residence carries the warmth, charm, and character of an earlier era that's rare to find, with hardwood floors, a living room fireplace, formal dining room, and a kitchen lined with large windows overlooking the views. Upstairs, three bedrooms offer walk-in closets and outlooks toward nature. The lower level includes storage, laundry, and an in-law suite complete with its own kitchen and full bath, creating flexibility within the existing footprint. An additional wing built with a mid-century vibe expands the layout further, could be a master suite but currently shows as a family room with fireplace, office space, full bath, and access to a spacious back deck that opens to the substantially level yard. Whether envisioned as a full restoration of a historic Mill Valley farmhouse or a new chapter entirely, this is a rare opportunity to reimagine a well-positioned property in one of Southern Marin's most desirable locations. Living in the Almonte neighborhood of Tam Valley offers a rare balance of privacy, nature, and accessibility. Surrounded by open space yet close to Mill Valley and San Francisco, days can begin enjoying Bay views from your home, followed by an easy commute or time spent on nearby coastal trails. Known for its relaxed community feel and close connection to both Mill Valley and Sausalito, Tam Valley places beaches, trailheads, and local favorites just minutes away. For those seeking a property with history, presence, and exceptional potential, 238 California represents an opportunity to shape something truly special in one of Marin's most coveted settings.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 4.0 | 50% |
| Baths | 3.0 | 3.0 | 50% |
| Square foot | 2,678 | 2,227.5 | 71% |
| Lot Size | 11,648 | 9,173.5 | 68% |
| Price | $2.10M | $2.00M | 53% |
| Price per sq ft | $782 | $984 | 24% |
| Built year | 1917 | 1958 | 8% |
| HOA | $0 | $0 | 50% |
| Days on market | 68 | 188 | 16% |
Feb 13, 2026
$2,095,000
Initial Listing
Mar 23, 2000
$1,018,000
Public Record
Dec 14, 1993
$484,500
Public Record