NOT LISTED FOR SALE

242 Lobos Ave Pacific Grove, CA 93950

6 Beds
4 Baths
2,173 Sq Ft
6,534 Sq Ft Lot

Last Sold February 07, 2014

Last sale price $670,000 $308 Per Sq Ft

251 Days on Market

Highlights

  • Neighborhood Views
  • Floor Furnace
  • Wall to Wall Carpet
  • Robert Down Elementary School Rated A
  • Level Lot

About This Home

As of February 2014

This charming, historic home is located just two blocks to downtown and has unlimited potential. Two 1/1's, one 2/1 and a 2/1.5. Could be converted to a beautiful 3/2 owner unit with two 1/1 rentals. Situated on an oversized street-to-street lot with eclectic, mature greenery and a two car garage plus large bonus storage. 5% cap rate. Needs some TLC, but great opportunity. Bring your contractor!

Last Agent to Sell the Property

William Bluhm

Sotheby’s International Realty License #01075634 Listed on: 05/15/2013

Sotheby’s International Realty

Last Buyer's Agent

Ralph Lanham

Ralph Lanham, Broker License #01852980

Property Details

Home Type

  • Multi-Family

Year Built

  • 1905

Lot Details

  • 6,534

Home Design

  • Quadruplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,173 Sq Ft Home
  • 2-Story Property
  • Neighborhood Views

Kitchen

  • Oven or Range
  • Microwave
  • Disposal

Flooring

  • Wall to Wall Carpet
  • Vinyl

Utilities

  • Floor Furnace
  • Heating System Uses Gas
  • Heating System Uses Natural Gas
  • Wall Furnace
  • Sewer Within 50 Feet

Additional Features

  • Energy-Efficient Insulation
  • Level Lot

Listing and Financial Details

  • Total Actual Rent $63,300
  • The owner pays for electric, garbage, services - gardener/landscaping, gas, heating, hot water, water

Community Details

Overview

  • 2,173 Sq Ft Building

Building Details

  • Gardener Expense $600
  • Insurance Expense $1,800
  • Maintenance Expense $1,800
  • Manager Expense $4,800
  • Other Expense $600
  • Utility Expense $2,490
  • Trash Expense $840
  • Operating Expense $25,546
  • Gross Income $62,034

Property Details

Home Type

Multi-Family

Year Built

1905

Lot Details

0

Listing Details

  • Zoning: R-1
  • Subclass: Fourplex
  • Inspections Reports: Fault Zone, Flood Zone
  • Sale Price Per Sq Ft: 308.33
  • Listing Class: Residential Income (2-4 Units)
  • Max Numberof Unitsin Complex: 4
  • Min Numberof Unitsin Complex: 4
  • Structure Sq Ft: 2173
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1905

Interior Features

  • Kitchen: Garbage Disposal, Varies By Unit, Microwave, Oven Range, Refrigerator
  • Living Sq Ft: 2173
  • Stories: 2
  • Laundry: Laundry - No
  • Flooring: Carpet - Wall To Wall, Vinyl / Linoleum, Carpet

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition
  • View: Local/Neighborhood

Garage/Parking

  • Garage Parking Features: Spaces Per Unit - <1

Utilities

  • Heating System: Wall Furnace, Gas - Natural, Electric, Floor Furnace, Gas
  • Sewer/Septic System: Sewer In Street, Sewer Connected

Schools

  • High School: 560

Lot Info

  • Lot Description: Grade - Level
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 6700.00
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Max Search: 6700.00
  • Lot Size Area Min Search: 6700.00
  • Maximum Lot Size: 6700.00

Green Features

  • Energy Features: Insulation - Unknown

Rental Info

  • Existing Lease Term(s): Month To Month, Less Than 1 Yr
  • Gross Rent Multiplier: 11.45

Multi Family

  • Expense Insurance: 1800
  • Expense Landscape: 600
  • Expense Maintenance: 1800
  • Expense Management: 4800
  • Expenses Other: 600
  • Expenses Total: 25546
  • Expenses Utility: 2490
  • Expense Trash: 840
  • Expense Water Sewer: 2710
  • Income Annual Gross: 62034.00
  • Income Annual Rental: 63300
  • Income Gross Scheduled: 63300
  • Income Includes: Parking, Lease
  • Maximum Building Height: 2
  • Meters: Master Electric, Master Gas, Master Water
  • Minimum Building Height: 2
  • Number Of Buildings: 1
  • Operating Expenses Include: Utilities - Electric, Services - Trash Removal, Services - Gardener, Utilities - Gas, Utilities - Heat, Utilities - Hot Water, Utilities - Water, Insurance, Maintenance - Repair, Fee - Property Management, Fee - Property Tax, Reserve Fund, Services - Sewer, Vacancy Factor
  • Owner Pays: Electric, Garbage, Services - Gardener/Landscaping, Gas, Heating, Hot Water, Water
  • Tenant Expenses: Cable Tv
  • Vacancy Amount: 1266
  • Vacancy Factor: 2

Range of Values:

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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
02/07/2014 02/07/14 Sold $670,000 -10.7% $308 / Sq Ft
01/21/2014 01/21/14 Pending -- -- --
05/15/2013 05/15/13 For Sale $750,000 -- $345 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • William Bluhm

    Seller's Agent in 2014

    William Bluhm

    Sotheby’s International Realty

    (831) 372-7700

    13 in this area

    44 Total Sales

    William Bluhm
    Section Image

  • R

    Buyer's Agent in 2014

    Ralph Lanham

    Ralph Lanham, Broker

    (408) 480-7161

    Ralph Lanham
    Section Image
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Map

Source: MLSListings

MLS Number: ML81316734

MLSListings

APN: 006-301-006

California Monterey County Pacific Grove 93950

242 Lobos Ave, Pacific Grove, CA

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