NOT LISTED FOR SALE

147 12th St Pacific Grove, CA 93950

6 Beds
4 Baths
2,646 Sq Ft
3,598 Sq Ft Lot

Last Sold January 31, 2024

Last sale price $1,700,000 $642 Per Sq Ft

24 Days on Market

Highlights

  • 3 Car Attached Garage
  • Forced Air Heating System
  • Level Lot
  • Robert Down Elementary School Rated A
  • Washer and Dryer
  • 4-minute walk to Berwick Park

About This Home

As of January 2024

Choice triplex with 3, 2-bedroom units plus 3-car garage. 2 units interiors recently remodeled. All rentals units in good condition. Gross rental income = $7,750 per month. Prime location near ocean, downtown and Lover's Point. Individual electric, gas and water meters. Fully occupied. High demand rental area. Pacific Grove is referred to as "The Last Hometown". This is a wonderful investment!

Last Agent to Sell the Property

Earl Meyers

Bliss by the Sea Realty License #00854147 Listed on: 12/14/2023

Last Buyer's Agent

Janet Simas

Spirit Properties License #00408408

Property Details

Home Type

  • Multi-Family

Year Built

  • 1962

Lot Details

  • 3,598 Sq Ft Lot
  • Level Lot

Parking

  • 3 Car Attached Garage
  • On-Street Parking
  • Assigned Parking

Home Design

  • Triplex
  • Slab Foundation
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,646 Sq Ft Home
  • 2-Story Property
  • Oven or Range
  • Washer and Dryer

Flooring

  • Carpet
  • Laminate

Utilities

  • Forced Air Heating System
  • Heating System Uses Gas
  • Separate Meters
  • Individual Gas Meter
  • Sewer Within 50 Feet

Listing and Financial Details

  • Total Actual Rent $93,000
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 3 Leased Units
  • Gardener Expense $1,500
  • Insurance Expense $4,000
  • Manager Expense $9,300
  • Utility Expense $480
  • Operating Expense $27,221
  • Gross Income $93,000

Property Details

Home Type

Multi-Family

Year Built

1962

Lot Details

0

Parking

3

Listing Details

  • Zoning: R
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2646
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1962

Interior Features

  • Kitchen: Oven Range, Refrigerator
  • Living Sq Ft: 2646
  • Stories: 2
  • Laundry: Washer/Dryer - Some Units
  • Flooring: Carpet, Laminate

Exterior Features

  • Foundation: Concrete Perimeter, Concrete Slab
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 3
  • Garage Parking Features: Assigned Spaces, Attached Garage, On Street

Utilities

  • Heating System: Forced Air, Gas
  • Sewer/Septic System: Sewer Connected, Sewer In Street

Schools

  • High School: 560

Lot Info

  • Lot Description: Grade - Level
  • Lot Acres: 0.0826
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 3600.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 3600.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 20.43
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Expense Insurance: 4000
  • Expense Landscape: 1500
  • Expense Management: 9300
  • Expenses Total: 27221
  • Expenses Utility: 480
  • Income Annual Gross: 93000.00
  • Income Annual Rental: 93000
  • Income Gross Scheduled: 93000
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Miscellaneous/Other, Services - Gardener, Services - Sewer
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/31/2024 01/31/24 Sold $1,700,000 -10.5% $642 / Sq Ft
01/08/2024 01/08/24 Pending -- -- --
12/14/2023 12/14/23 For Sale $1,900,000 +100.0% $718 / Sq Ft
07/01/2014 07/01/14 Sold $950,000 +5.7% $359 / Sq Ft View Prior Sale
06/13/2014 06/13/14 Pending -- -- --
06/02/2014 06/02/14 For Sale $899,000 -- $340 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81949761

MLSListings

APN: 006-193-009