500 Summit Avenue, Mill Valley, CA 94941, Mill Valley, 94941 - 3 bed, 2 bath
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Mill Valley, CA 94941
This 1938 Middle Ridge residence represents a High-Potential Investment Opportunity, listed at $2,295,000—positioned slightly above the $2,237,430 Fair Market Value. While requiring modernization, the property features a Condition Rating of 4, offering significant upside through customization. The versatile floor plan includes an independent in-law suite and a rare quarter-acre lot, situated near Top-Rated Schools like Mill Valley Middle and Park Elementary. This property is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking to build equity in a prime Mill Valley location.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 500 Summit Avenue Subject | $2,295,000* List Price | 3 | 2 | 2,860 | $782 | - |
A 195 Edgewood Avenue Pending | $2,195,000 List Price | 4 | 3 | 2,335 | $940 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1938, this home retains a 'vintage vibe' with dated elements such as older floor tiling, wood paneling, and exposed conduit. While the hardwood floors are well-maintained, the property is significantly older than 20 years without evidence of a recent major renovation, and the listing explicitly mentions 'potential to customize,' indicating a need for modern updates to kitchens, baths, and systems.
Elementary School: Tamalpais Valley Elementary School (9/10). Middle School: Mill Valley Middle School (9/10).
Situated in the prestigious Middle Ridge area, this property offers a rare level street-to-entry access and is conveniently located just five minutes from downtown Mill Valley and world-class hiking trails.
The home features a versatile floor plan including an independent lower-level in-law suite with a private entrance, ideal for rental income, guests, or an au pair.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2860, other record living area = 3168.
Built in 1938, the home's 'vintage vibe' and 'potential to customize' suggest that buyers may need to budget for significant updates to systems and finishes to meet modern luxury standards.
For a home spanning 2,860 square feet with up to four potential bedrooms, the current configuration of only two bathrooms may be insufficient for larger families or high-end market expectations.
With flexible fourth bedroom potential, this 1938 Middle Ridge home is sun-drenched and peaceful. Enjoy a bit of vintage vibe, excellent weather, world-class hiking trails, and top-tier schools, all with approximately 5 minute access via Summit Avenue to downtown Mill Valley. The level street-to-entry introduces an expansive, light-filled floor plan with hardwood floors and timeless character. At the heart of the home, generously scaled living spaces center around a fireplace and flow effortlessly onto an inviting deck. Versatile home office that easily serves as a fourth bedroom. The flexible lower level features an independent in-law suite with its own private entry ideal for guests, au pair, or rental income. Situated on a street-to-street quarter-acre lot, the property boasts a flat, grassy front lawn, two-car garage, and potential to customize.
No exterior & parking available.
Grades PK-5 • 0.3 mi
Grades K-5 • 0.6 mi
Grades K-5 • 1.9 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 4.0 | 40% |
| Baths | 2.0 | 3.0 | 35% |
| Square foot | 2,860 | 2,306 | 74% |
| Lot Size | 10,647 | 10,001 | 56% |
| Price | $2.29M | $2.23M | 51% |
| Price per sq ft | $802 | $1.0K | 26% |
| Built year | 1938 | 1959 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 25 | 142 | 2% |
Jun 5, 2026
$2,295,000
$2,450,000
-6% Price Drop
Initial Listing
May 19, 2026
$2,450,000
Initial Listing
Apr 6, 2012
$1,100,000
Public Record