$2,350,000

674 Laine St Monterey, CA 93940

New Monterey Neighborhood

Estimated payment $15,329/month

Total Views 23,625
8 Beds
4 Baths
4,320 Sq Ft
$544 Price per Sq Ft

About This Home

674 Laine St is a stunning 4-unit apartment complex located in the thriving city of Monterey, California. Situated on a 5,750 square foot parcel of land, the subject property was originally constructed in 1964 and has a gross building area of approximately 4,320 square feet, offering its tenants beautifully designed two-bedroom floor plans. The subject property is strategically situated offering tenants easy access to Scholze Park, the Naval Postgraduate School, Monterey Peninsula College, and the Old Fisherman's Wharf. Additionally, Cannery Row is located within walking distance to 674 Laine St(0.3mi), and is home to a myriad of high-end shopping, entertainment and dining options including the Monterey Bay Aquarium, Ghirardelli Ice Cream & Chocolate Shop, Treasure Hunt the Ride, Lalla Grill as well as numerous others. Tenants also enjoy convenient access to transportation corridors including U.S. Route 1, California State Route 68, as well as other modes of transportation including the Monterey-Salinas Transit (MST), providing an inexpensive, hassle free commute to the regions major employers end entertainment centers on the Peninsula and throughout Monterey County.

Listing Agent

Robert Johnston

Marcus & Millichap License #01853816 Listed on: 02/14/2025

Co-Listing Agent

Adam Levin

Marcus & Millichap License #01462752

Property Details

Home Type

  • Multi-Family

Year Built

  • 1964

Lot Details

  • 5,750 Sq Ft Lot

Parking

  • 4 Carport Spaces

Home Design

  • Quadruplex
  • Wood Shingle Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,320 Sq Ft Home
  • 2-Story Property

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 3 Leased Units
  • Insurance Expense $3,608
  • Maintenance Expense $2,000
  • Other Expense $900
  • Utility Expense $4,316
  • Trash Expense $3,375
  • Operating Expense $39,966
  • Gross Income $109,765

Property Details

Home Type

Multi-Family

Year Built

1964

Lot Details

0

Listing Details

  • Zoning: R-4
  • Subclass: Fourplex
  • Age: 61
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4320
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1964

Interior Features

  • Living Sq Ft: 4320
  • Stories: 2

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Wood Shakes / Shingles

Garage/Parking

  • Garage Parking Features: Carport
  • Carport Min: 4

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • School District: Monterey Peninsula Unified

Lot Info

  • Lot Acres: 0.1320
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5750.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5750.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 20.77
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Expense Insurance: 3608
  • Expense Maintenance: 2000
  • Expenses Other: 900
  • Expenses Total: 39966
  • Expenses Utility: 4316
  • Expense Trash: 3375
  • Income Annual Gross: 109765.00
  • Income Annual Rental: 112200
  • Income Gross Scheduled: 113160
  • Income Includes: Laundry, Rents
  • Income Other: 960
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Insurance, Maintenance, Services - Gardener
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Map

Range of Values:

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Average Value
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/14/2025 02/14/25 For Sale $2,350,000 -- $544 / Sq Ft
Source: MLSListings

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Source: MLSListings

MLS Number: ML81994096

MLSListings

APN: 001-067-016

California Monterey County Monterey 93940 New Monterey

674 Laine St, Monterey, CA

This home is located at 674 Laine St, Monterey, CA 93940 and is currently priced at $2,350,000, approximately $543 per square foot. This property was built in 1964. 674 Laine St is a home located in Monterey County with nearby schools including Monte Vista Elementary School, Monte Vista Middle School, and Monterey High School.

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Robert Johnston
Listing Agent
Robert Johnston
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Marcus & Millichap
(831) 531-9847