NOT LISTED FOR SALE

1149 Forest Ave Pacific Grove, CA 93950

New Monterey Neighborhood

Estimated Value: $4,035,081

-- Bed
4 Baths
3,441 Sq Ft
$1,173/Sq Ft Est. Value

Last Sold April 03, 2017

Last sale price $1,210,000 $352 Per Sq Ft

Est. 233% increase in value since last sale

Current estimated payment $25,236/month

18 Days on Market

About This Home

As of April 2017

Rare offering for this Ocean View Pacific Grove Location. 2 separate buildings, consisting of 5 units total. There's a 2024 sqft commercial office in a fantastic location that was once a real estate office, with two 600 sqft 1br 1ba units above the commercial space. Second building towards back of lot, is a duplex with two 2br 1ba units with peeks of the ocean! Needs a significant amount of fixing, but this fantastic opportunity won't come around again! Priced for quick, as is sale! Cash or hard money only. 3 units are occupied, do not disturb occupants. Agent accompanied showings only.

Last Agent to Sell the Property

Mark Delano Vincent

Coldwell Banker Realty License #01436652 Listed on: 03/11/2017

Coldwell Banker Realty

Last Buyer's Agent

Mark Kavanaugh

Montgomery Company License #00841494

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $41,037

Year Built

  • 1960

Lot Details

  • 9,409 Sq Ft Lot

Parking

  • 1 Car Detached Garage
  • 1 Carport Space
  • Off-Street Parking
  • Assigned Parking

Home Design

  • 3,441 Sq Ft Home
  • Slab Foundation
  • Composition Roof

Listing and Financial Details

  • Total Actual Rent $89,400

Community Details

Overview

  • 3,441 Sq Ft Building

Building Details

  • 3 Leased Units
  • Insurance Expense $1,000
  • Operating Expense $8,249
  • Gross Income $89,400

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$41,037

Year Built

1960

Lot Details

0

Parking

1

Listing Details

  • Zoning: N/A
  • Subclass: Multiple Dwellings / Structures
  • Age: 57
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3441
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1960

Interior Features

  • Living Sq Ft: 3441

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 12
  • Garage Parking Features: Assigned Spaces, Carport, Common Parking Area, Detached Garage, Off-Street Parking, Parking Area
  • Carport Min: 1

Utilities

  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Pacific Grove Unified

Lot Info

  • Lot Acres: 0.2160
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 9399.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 9399.00

Rental Info

  • Existing Lease Term(s): Lease(s)
  • Gross Rent Multiplier: 14.54
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 1000
  • Expenses Total: 8249
  • Income Annual Gross: 89400.00
  • Income Annual Rental: 89400
  • Income Gross Scheduled: 89400
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 2

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Oct 25, 2023
Sold by
Ka Residential Llc
Bought by
Alamo Farms
Current Estimated Value
$4,035,081

Purchase Details

Listed on
Mar 11, 2017
Closed on
Mar 22, 2017
Sold by
Hollyvale Rental Holdings Llc
Bought by
Ka Residential Llc
Seller's Agent
Mark Delano Vincent
Coldwell Banker Realty
Buyer's Agent
Mark Kavanaugh
Montgomery Company
List Price
$1,299,900
Sold Price
$1,210,000
Premium/Discount to List
-$89,900
-6.92%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
15.34%
Original Mortgage
$750,000
Interest Rate
4.15%
Mortgage Type
Commercial
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Alamo Farms $3,850,000 Chicago Title
Ka Residential Llc $1,210,000 Fidelity National Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Ka Residential Llc $750,000
Previous Owner Hollyvale Rental Holdings Llc --
Previous Owner Coleman Marie $506,000
Previous Owner Coleman Rose Marie $350,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/03/2017 04/03/17 Sold $1,210,000 -6.9% $352 / Sq Ft
03/30/2017 03/30/17 Pending -- -- --
03/11/2017 03/11/17 For Sale $1,299,900 -- $378 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $41,037 $3,927,000 $2,550,000 $1,377,000
2024 $41,037 $3,850,000 $2,500,000 $1,350,000
2023 $17,966 $3,850,000 $2,500,000 $1,350,000
2022 $16,435 $1,588,557 $1,093,646 $494,911
2021 $15,953 $1,455,586 $1,072,202 $383,384
2020 $15,635 $1,402,061 $1,061,208 $340,853
2019 $13,887 $1,258,884 $1,040,400 $218,484
2018 $13,613 $1,234,200 $1,020,000 $214,200
2017 $11,437 $1,030,000 $800,000 $230,000
2016 $7,249 $379,712 $140,384 $239,328
2015 $6,651 $374,010 $138,276 $235,734
2014 $4,980 $366,685 $135,568 $231,117
Source: Public Records

Agents Affiliated with this Home

  • Mark Delano Vincent

    Seller's Agent in 2017

    Mark Delano Vincent

    Coldwell Banker Realty

    (831) 295-3446

    67 Total Sales

    Mark Delano Vincent
    Section Image

  • M

    Buyer's Agent in 2017

    Mark Kavanaugh

    Montgomery Company

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Map

Source: MLSListings

MLS Number: ML81641989

MLSListings

APN: 006-713-024-000

California Monterey County Pacific Grove 93950 New Monterey

1149 Forest Ave, Pacific Grove, CA

This home is located at 1149 Forest Ave, Pacific Grove, CA 93950 since 11 March 2017 and is currently estimated at $4,035,081, approximately $1,172 per square foot. This property was built in 1960. 1149 Forest Ave is a home located in Monterey County with nearby schools including Forest Grove Elementary School, Pacific Grove Middle School, and Pacific Grove High School.

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