NOT LISTED FOR SALE
5 Beds
5 Baths
3,650 Sq Ft
0.36 Acres

Last Sold January 23, 2024

Last sale price $1,600,000 $438 Per Sq Ft

6 Days on Market

Highlights

  • Ridge View
  • Deck
  • Mediterranean Architecture
  • Tularcitos Elementary School Rated A
  • Vaulted Ceiling
  • Balcony

About This Home

As of January 2024

Welcome to beautiful, sunny Carmel Valley Village. Rare TRIPLEX OPPORTUNITIY in a wonderful location. Walkable to the Village shops, restaurants, wine tasting, and the river! Not to mention 20 minutes to downtown Carmel-By-The-Sea, Carmel Beach and world renowned Pebble Beach Golf Links. Well maintained building with 2 of the 3 units currently rented. There are two 2 bedroom/1.5 baths and one 1 bedroom 1 bath. Units could continue to be rented or remodeled/upgraded to maximize rents and cap rate projections. Current renters have been long term and great and because of that have subsidized rents currently for the area. They would ideally like the opportunity to stay but that will ultimately be up to the new owner. Currently each tenant is month to month and the sellers are keeping the other unit vacant for ease of showings. Both two bedrooms are mirror images of each other. 48 hour notice requested to allow tenants ample time for showings. Call to set up your appointment today!

Last Agent to Sell the Property

Cory Otterness

KW Coastal Estates License #02016158 Listed on: 11/08/2023

KW Coastal Estates

Co-Listed By

Ben Beesley

KW Coastal Estates License #70010212

Last Buyer's Agent

Doug Steiny

Sotheby’s International Realty License #00681652

Sotheby’s International Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • 1977

Lot Details

  • 0.36 Acre Lot
  • Sprinkler System

Property Views

  • Ridge
  • Mountain
  • Forest
  • Garden

Home Design

  • Triplex
  • Mediterranean Architecture
  • Tile Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,650 Sq Ft Home
  • 2-Story Property
  • Vaulted Ceiling
  • Storage Room
  • Washer and Dryer
  • Fire and Smoke Detector

Kitchen

  • Electric Oven
  • Dishwasher
  • Disposal

Flooring

  • Carpet
  • Vinyl

Parking

  • 2 Parking Spaces
  • 1 Carport Space
  • No Garage
  • On-Street Parking
  • Off-Street Parking
  • Assigned Parking

Outdoor Features

  • Balcony
  • Deck

Utilities

  • Heating Available
  • Separate Meters
  • Individual Gas Meter
  • Septic Tank

Listing and Financial Details

  • Total Actual Rent $59,940

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 2 Leased Units
  • Gardener Expense $1,500
  • Insurance Expense $2,698
  • Maintenance Expense $4,711
  • Utility Expense $6,804
  • Operating Expense $23,637
  • Gross Income $59,940

Property Details

Home Type

Multi-Family

Year Built

1977

Lot Details

0

Listing Details

  • Zoning: MFD
  • Subclass: Triplex
  • Style: Mediterranean
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3650
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1977

Interior Features

  • Kitchen: Dishwasher, Garbage Disposal, Oven Range - Electric, Refrigerator
  • Living Sq Ft: 3650
  • Stories: 2
  • Security: Fire Alarm
  • Laundry: Coin Operated, Washer / Dryer
  • Flooring: Carpet, Vinyl / Linoleum
  • Additional Rooms: Storage

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Tile
  • View: Forest / Woods, Garden / Greenbelt, Mountains, Ridge
  • Yard/Grounds: Balcony / Patio, Deck, Sprinklers - Lawn

Garage/Parking

  • Parking Spaces: 2
  • Garage Parking Features: Assigned Spaces, Carport, Common Parking Area, No Garage, Off-Street Parking, On Street
  • Carport Min: 1

Utilities

  • Heating System: Electric
  • Sewer/Septic System: Septic Tank / Pump

Association/Amenities

  • Amenities Miscellaneous: Vaulted Ceiling

Schools

  • High School: 497

Lot Info

  • Lot Acres: 0.3630
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 15812.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 15812.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 31.70
  • Number Of Leased: 2

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 2698
  • Expense Landscape: 1500
  • Expense Maintenance: 4711
  • Expenses Total: 23637
  • Expenses Utility: 6804
  • Income Annual Gross: 59940.00
  • Income Annual Rental: 59940
  • Income Gross Scheduled: 59940
  • Income Includes: Coin Operated Equip, Laundry
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
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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 List to Sale Price per Sq Ft
01/23/2024 01/23/24 Sold $1,600,000 -15.8% $438 / Sq Ft
11/14/2023 11/14/23 Pending -- -- --
11/08/2023 11/08/23 For Sale $1,900,000 -- $521 / Sq Ft
Source: MLSListings

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 $8,110 $1,632,000 $714,000 $918,000
2024 $8,110 $1,600,000 $700,000 $900,000
2023 $8,176 $707,334 $282,933 $424,401
2022 $7,924 $693,466 $277,386 $416,080
2021 $7,841 $679,870 $271,948 $407,922
2020 $7,689 $672,900 $269,160 $403,740
2019 $7,552 $659,707 $263,883 $395,824
2018 $7,427 $646,772 $258,709 $388,063
2017 $7,287 $634,091 $253,637 $380,454
2016 $7,147 $621,659 $248,664 $372,995
2015 $7,056 $612,322 $244,929 $367,393
2014 $6,989 $600,329 $240,132 $360,197
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81947295

MLSListings

APN: 187-442-016