$1,800,000
$100K PRICE DROP

Estimated payment $11,741/month

Total Views 54,719
8 Beds
4 Baths
3,436 Sq Ft
$524 Price per Sq Ft

About This Home

Discover an incredible investment opportunity with this amazing 4-plex in sought-after New Monterey! Featuring approved plans for an additional 2-bed accessory dwelling unit, this property offers immense potential. Each unit is a spacious 2-story townhouse with tasteful upgrades, ensuring comfortable and modern living. Perfectly situated near Cannery Row, Pacific Grove, and the Taylor Street gate to the DLI, the location is ideal for attracting renters. Enjoy a fantastic rent roll with room for growth in this prime spot above the iconic Monterey Bay. Just minutes from downtown Monterey, Cannery Row, and Downtown Pacific Grove, this property combines convenience and charm in one of the most desirable areas. Don't miss out on this unique investment in a truly unbeatable location!

Listing Agent

The C Group

Real Brokerage Technologies License #70010221 Listed on: 07/30/2024

Property Details

Home Type

  • Multi-Family

Year Built

  • 1969

Home Design

  • Quadruplex
  • Wood Shingle Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,436 Sq Ft Home
  • 2-Story Property

Parking

  • 2 Parking Spaces
  • 4 Carport Spaces

Additional Features

  • 5,001 Sq Ft Lot
  • Wall Furnace

Community Details

Overview

Building Details

  • 4 Leased Units
  • Insurance Expense $2,342
  • Maintenance Expense $175
  • Manager Expense $3,880
  • Utility Expense $2,952
  • Trash Expense $1,790
  • Operating Expense $31,139
  • Gross Income $105,840

Property Details

Home Type

Multi-Family

Year Built

1969

Lot Details

0

Listing Details

  • Zoning: R1
  • Subclass: Fourplex
  • Age: 55
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3436
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1969

Interior Features

  • Living Sq Ft: 3436
  • Stories: 2

Exterior Features

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

Garage/Parking

  • Parking Spaces: 2
  • Garage Parking Features: Covered Parking
  • Carport Min: 4

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Monterey Peninsula Unified

Lot Info

  • Lot Acres: 0.1148
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5000.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5000.00

Rental Info

  • Existing Lease Term(s): Security Deposit
  • Gross Rent Multiplier: 16.67
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 2342
  • Expense Maintenance: 175
  • Expense Management: 3880
  • Expenses Total: 31139
  • Expenses Utility: 2952
  • Expense Trash: 1790
  • Income Annual Gross: 105840.00
  • Income Annual Rental: 106800
  • Income Gross Scheduled: 108000
  • Income Includes: Laundry
  • Income Other: 1200
  • Number Of Buildings: 1
  • Operating Expenses Include: Accounting/Legal, Fee - Professional Services, Fee - Property Management, Fee - Property Tax
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 2

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
12/11/2024 12/11/24 Price Changed $1,800,000 -5.3% $524 / Sq Ft
07/30/2024 07/30/24 For Sale $1,900,000 +18.8% $553 / Sq Ft
12/05/2021 12/05/21 Sold $1,600,000 0.0% $466 / Sq Ft
12/05/2021 12/05/21 Pending -- -- --
12/05/2021 12/05/21 For Sale $1,600,000 -- $466 / Sq Ft
Source: MLSListings

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Source: MLSListings

MLS Number: ML81974937

MLSListings

APN: 001-179-035