NOT LISTED FOR SALE

178 Central Ave Pacific Grove, CA 93950

4 Beds
4 Baths
4,063 Sq Ft
10,454 Sq Ft Lot

Last Sold July 25, 2017

Last sale price $1,598,000 $393 Per Sq Ft

31 Days on Market

Highlights

  • Ocean View
  • 0.24 Acre Lot
  • Forced Air Heating System
  • Robert Down Elementary School Rated A
  • Victorian Architecture
  • Carpet

About This Home

As of July 2017

Welcome to this beautiful craftsman 4-plex in the heart of Pacific Grove. 4 spacious units, each 1 bedroom/1 bathroom and 2 with incredible ocean views. Located in a highly desirable, ideal location, one can walk to the ocean and recreation trails as well as restaurants, stores and markets. Each unit has an underground parking spot and there are 2 underground guest parking spots as well. Not only is the exterior of this historic property stunning but the interior units and rental rates are fantastic, too. An incredible opportunity awaits you, don't hesitate! (square footage, interior and exterior per the BOMA method per seller, buyer to verify.)

Last Agent to Sell the Property

Joy Jacobs

KW Coastal Estates License #70003531 Listed on: 04/25/2017

KW Coastal Estates

Last Buyer's Agent

Joy Jacobs

KW Coastal Estates License #70003531 Listed on: 04/25/2017

KW Coastal Estates

Property Details

Home Type

  • Multi-Family

Year Built

  • 1904

Lot Details

  • 10,454

Parking

  • 4 Carport Spaces

Property Views

  • Ocean
  • Downtown

Home Design

  • Quadruplex
  • Victorian Architecture
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 4,063 Sq Ft Home
  • 3-Story Property

Flooring

  • Carpet
  • Laminate
  • Vinyl

Additional Features

  • 10,454 Sq Ft Lot
  • Forced Air Heating System

Listing and Financial Details

  • Total Actual Rent $94,440
  • Month-to-Month Lease Term

Community Details

Overview

Building Details

  • 4 Leased Units
  • Gardener Expense $720
  • Insurance Expense $1,594
  • Maintenance Expense $1,056
  • Manager Expense $1,800
  • Utility Expense $7,628
  • Trash Expense $1,500
  • Operating Expense $26,027
  • Gross Income $94,440

Property Details

Home Type

Multi-Family

Year Built

1904

Lot Details

0

Listing Details

  • Zoning: R1
  • Subclass: Fourplex
  • Style: Victorian
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 4063
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1904

Interior Features

  • Living Sq Ft: 4063
  • Stories: 3
  • Flooring: Carpet, Laminate, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter And Slab
  • Roof: Composition
  • View: Downtown, Ocean, Water

Garage/Parking

  • Garage Parking Features: Carport
  • Carport Min: 4

Utilities

  • Heating System: Central Forced Air
  • Sewer/Septic System: Sewer Connected

Lot Info

  • Lot Acres: 0.2400
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 10447.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 10447.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 17.46
  • Number Of Leased: 4

Multi Family

  • Expense Insurance: 1594
  • Expense Landscape: 720
  • Expense Maintenance: 1056
  • Expense Management: 1800
  • Expenses Total: 26027
  • Expenses Utility: 7628
  • Expense Trash: 1500
  • Income Annual Gross: 94440.00
  • Income Annual Rental: 94440
  • Income Gross Scheduled: 94440
  • Number Of Buildings: 1
  • Operating Expenses Include: Contract Services, Fee - Property Management, Maintenance, Maintenance - Laundry, Maintenance - Repair, Miscellaneous/Other, Services - Gardener, Services - Trash Removal, Utilities
  • Tenant Expenses: Rent Only

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
07/25/2017 07/25/17 Sold $1,598,000 -3.1% $393 / Sq Ft
05/27/2017 05/27/17 Pending -- -- --
04/25/2017 04/25/17 For Sale $1,649,000 -- $406 / 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 $19,061 $1,818,246 $853,369 $964,877
2024 $19,061 $1,782,595 $836,637 $945,958
2023 $19,327 $1,747,643 $820,233 $927,410
2022 $18,936 $1,713,376 $804,150 $909,226
2021 $18,839 $1,679,782 $788,383 $891,399
2020 $18,462 $1,662,559 $780,300 $882,259
2019 $17,876 $1,629,960 $765,000 $864,960
2018 $17,521 $1,598,000 $750,000 $848,000
2017 $11,796 $1,065,981 $440,022 $625,959
2016 $11,823 $1,045,081 $431,395 $613,686
2015 $11,633 $1,029,384 $424,916 $604,468
2014 $11,392 $1,009,221 $416,593 $592,628
Source: Public Records

Agents Affiliated with this Home

  • J

    Seller's Agent in 2017

    Joy Jacobs

    KW Coastal Estates

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Map

Source: MLSListings

MLS Number: ML81648377

MLSListings

APN: 006-235-014

California Monterey County Pacific Grove 93950

178 Central Ave, Pacific Grove, CA

Not Listed for Sale

MultiFamily

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