NOT LISTED FOR SALE
6 Beds
4 Baths
2,750 Sq Ft
4,792 Sq Ft Lot

Last Sold March 23, 2017

Last sale price $1,020,000 $371 Per Sq Ft

105 Days on Market

Highlights

  • Ocean View
  • High Ceiling
  • Double Oven
  • Monterey High School Rated A
  • Beamed Ceilings
  • 4-minute walk to Monterey Scholze Park Center

About This Home

As of March 2017

2 bed / 1 bath free standing cottage & a triplex located 2 short blocks to the Pacific Ocean. Cottage is perfect for a 2nd home or primary home. Cottage front roof replaced November 2016. Tenants in triplex currently pay $3824 in rent towards your property taxes and loan payments. From this complex, you can easily walk to Cannery Row, the Monterey Bay Rec Trail, Lighthouse Ave, Fisherman's Wharf, DLI, MIIS grad school, and downtown Monterey. Shopping, dining, gyms, and coffee shops are a short walking distance away. Cottage has a living room, washer dryer hookups, dark walnut laminate flooring, and updated kitchen with built-in sit down dining area. Other units are a ground level one bed / one bath, a two bedroom / one bath with large living & dining area, and a one bed / one bath with ocean views, high ceilings, a deck, and a nice kitchen. Most appliances are updated and kitchens are spacious. There is potential upside in all rents. Quiet street. Triplex was built in 1975. .

Last Agent to Sell the Property

Hap Albers

Albers Real Estate Investment Company License #01006595 Listed on: 10/08/2016

Last Buyer's Agent

Hap Albers

Albers Real Estate Investment Company License #01006595 Listed on: 10/08/2016

Property Details

Home Type

  • Multi-Family

Year Built

  • 1940

Lot Details

  • 4,792 Sq Ft Lot
  • Lot Sloped Down

Property Views

  • Ocean
  • City Lights

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Wood Shingle Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,750 Sq Ft Home
  • 2-Story Property
  • Beamed Ceilings
  • High Ceiling
  • Crawl Space

Kitchen

  • Double Oven
  • Electric Oven
  • Electric Cooktop
  • Tile Countertops
  • Formica Countertops

Flooring

  • Carpet
  • Laminate
  • Tile
  • Vinyl

Laundry

  • Laundry Room
  • Washer and Dryer

Parking

  • 1 Parking Space
  • 3 Carport Spaces
  • On-Street Parking

Utilities

  • Heating System Uses Gas
  • Wall Furnace
  • Separate Meters

Listing and Financial Details

  • Total Actual Rent $68,532

Community Details

Building Details

  • 4 Leased Units
  • Gardener Expense $766
  • Insurance Expense $1,550
  • Maintenance Expense $3,000
  • Utility Expense $3,856
  • Trash Expense $770
  • Operating Expense $21,507
  • Gross Income $67,025

Additional Features

  • 2,750 Sq Ft Building
  • Coin Laundry

Property Details

Home Type

Multi-Family

Year Built

1940

Lot Details

4,792 Sq Ft Lot

Listing Details

  • Zoning: R-3
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2750
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1940

Interior Features

  • Kitchen: Appliances - Vary By Unit, Cooktop - Electric, Countertop - Formica, Countertop - Tile, Oven - Double, Oven - Electric, Oven Range - Electric, Refrigerator
  • Living Sq Ft: 2750
  • Stories: 2
  • Laundry: Coin Operated, Washer/Dryer - Some Units
  • Flooring: Carpet, Laminate, Tile, Vinyl / Linoleum
  • Additional Rooms: Laundry Room

Exterior Features

  • Foundation: Concrete Perimeter, Crawl Space
  • Roof: Composition, Wood Shakes / Shingles
  • View: City Lights, Ocean
  • Construction Type: Wood Frame

Garage/Parking

  • Parking Spaces: 1
  • Garage Parking Features: Carport, On Street
  • Carport Min: 3

Utilities

  • Heating System: Electric, Gas, Wall Furnace
  • Sewer/Septic System: Sewer Connected

Association/Amenities

  • Amenities Miscellaneous: High Ceiling, Open Beam Ceiling

Schools

  • High School: 545

Lot Info

  • Lot Description: Grade - Sloped Down, Views
  • Lot Acres: 0.1100
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 4813.38
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 4813.38

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 15.90
  • Number Of Leased: 4

Multi Family

  • Utilities: Individual Electric Meters, Natural Gas
  • Expense Insurance: 1550
  • Expense Landscape: 766
  • Expense Maintenance: 3000
  • Expenses Total: 21507
  • Expenses Utility: 3856
  • Expense Trash: 770
  • Income Annual Gross: 67025.00
  • Income Annual Rental: 68532
  • Income Gross Scheduled: 69098
  • Income Includes: Laundry, Rents
  • Income Other: 566
  • Meters: Master Electric, Master Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Supplies, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Heating
  • Vacancy Factor: 3
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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
03/23/2017 03/23/17 Sold $1,020,000 -7.2% $371 / Sq Ft
01/22/2017 01/22/17 Pending -- -- --
01/11/2017 01/11/17 Price Changed $1,099,000 -5.7% $400 / Sq Ft
11/18/2016 11/18/16 For Sale $1,165,000 0.0% $424 / Sq Ft
11/05/2016 11/05/16 Pending -- -- --
10/08/2016 10/08/16 For Sale $1,165,000 -- $424 / 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 $13,020 $1,183,791 $522,260 $661,531
2024 $13,020 $1,160,580 $512,020 $648,560
2023 $12,493 $1,137,825 $501,981 $635,844
2022 $12,322 $1,115,516 $492,139 $623,377
2021 $12,144 $1,093,644 $482,490 $611,154
2020 $11,687 $1,082,431 $477,543 $604,888
2019 $12,263 $1,061,208 $468,180 $593,028
2018 $11,774 $1,040,400 $459,000 $581,400
2017 $6,152 $567,326 $259,349 $307,977
2016 $6,044 $556,203 $254,264 $301,939
2015 $5,959 $547,849 $250,445 $297,404
2014 $5,859 $537,119 $245,540 $291,579
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81627767

MLSListings

APN: 001-053-018

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