NOT LISTED FOR SALE

245 Walnut St Pacific Grove, CA 93950

4 Beds
3 Baths
1,965 Sq Ft
3,554 Sq Ft Lot

Last Sold March 14, 2024

Last sale price $1,450,000 $738 Per Sq Ft

24 Days on Market

Highlights

  • Deck
  • Traditional Architecture
  • Balcony
  • Robert Down Elementary School Rated A
  • Granite Countertops
  • 3-minute walk to George Washington Park

About This Home

As of March 2024

This charming triplex at 245-249 Walnut Street offers a rare blend of coastal living and investment potential. With a short walk to Lover's Point Beach and Downtown Pacific Grove, this property is perfectly situated to enjoy the best of the coastal lifestyle. Just a short stroll away from Lover's Point Beach and the vibrant Downtown Pacific Grove, residents can indulge in the beauty of Monterey Bay and the convenience of local amenities. Convenience meets functionality with a washer/dryer in every unit, ensuring residents have the ease of in-house laundry facilities. The 2 bed 1 bath downstairs unit has been thoughtfully renovated with new flooring and fresh paint, providing a modern and inviting living space. The property features a detached garage, basement storage under the front unit, and a workshop attached to the garage, offering plenty of storage space for residents. A recent upgrade in November 2023 includes a new drainage system with French drains and sump pumps, enhancing the property's resilience. Both the front and back units boast high ceilings, adding to the charm of this classic Pacific Grove cottage. With two 1-bedroom units and one 2-bedroom unit, the triplex offers opportunities for conversion to a single-family home or flexible rental arrangements.

Last Agent to Sell the Property

William Bluhm

Sotheby’s International Realty License #70010270 Listed on: 01/19/2024

Sotheby’s International Realty

Last Buyer's Agent

Brianne Medved

Compass License #02114690

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • 1906

Lot Details

  • 3,554 Sq Ft Lot
  • Mostly Level

Parking

  • 1 Car Garage
  • Off-Street Parking

Home Design

  • Triplex
  • Traditional Architecture
  • Wood Frame Construction
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,965 Sq Ft Home
  • 1-Story Property

Kitchen

  • Gas Oven
  • Granite Countertops

Flooring

  • Carpet
  • Laminate

Outdoor Features

  • Balcony
  • Deck
  • Shed

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $75,300

Community Details

Overview

Building Details

  • 1 Leased Unit
  • Gardener Expense $1,200
  • Insurance Expense $1,975
  • Maintenance Expense $1,000
  • Manager Expense $7,530
  • Utility Expense $4,600
  • Trash Expense $794
  • Operating Expense $28,099
  • Gross Income $73,041

Property Details

Home Type

Multi-Family

Year Built

1906

Lot Details

0

Parking

1

Listing Details

  • Zoning: R-1
  • Subclass: Triplex
  • Style: Traditional
  • Age: 118
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1965
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1906

Interior Features

  • Kitchen: Countertop - Granite, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 1965
  • Stories: 1
  • Flooring: Carpet, Laminate
  • Additional Rooms: Storage

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition
  • Yard/Grounds: Balcony / Patio, Deck, Storage Shed / Structure
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 3
  • Garage Parking Features: Off-Street Parking

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Pacific Grove Unified
  • Elementary School: Robert Down Elementary
  • Middle School: Pacific Grove Middle
  • High School: Pacific Grove High
  • High School: 560
  • Elementary School: 563
  • Middle School: 561

Lot Info

  • Lot Description: Grade - Mostly Level
  • Lot Acres: 0.0816
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 3555.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 3555.00

Rental Info

  • Existing Lease Term(s): Less Than 1 Yr
  • Gross Rent Multiplier: 19.92
  • Number Of Leased: 1

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 1975
  • Expense Landscape: 1200
  • Expense Maintenance: 1000
  • Expense Management: 7530
  • Expenses Total: 28099
  • Expenses Utility: 4600
  • Expense Trash: 794
  • Income Annual Gross: 73041.00
  • Income Annual Rental: 75300
  • Income Gross Scheduled: 75300
  • Meters: Master Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Maintenance, Services - Sewer, Services - Trash Removal, Utilities - Water, Vacancy Factor
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 3

Range of Values:

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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 Change Sq Ft Price
03/14/2024 03/14/24 Sold $1,450,000 -3.3% $738 / Sq Ft
02/13/2024 02/13/24 Pending -- -- --
01/19/2024 01/19/24 For Sale $1,500,000 -- $763 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • William Bluhm

    Seller's Agent in 2024

    William Bluhm

    Sotheby’s International Realty

    (831) 372-7700

    13 in this area

    44 Total Sales

    William Bluhm
    Section Image

  • B

    Buyer's Agent in 2024

    Brianne Medved

    Compass

    Section Image
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Map

Source: MLSListings

MLS Number: ML81951945

MLSListings

APN: 006-334-007

California Monterey County Pacific Grove 93950

245 Walnut St, Pacific Grove, CA

This home is located at 245 Walnut St, Pacific Grove, CA 93950 since 19 January 2024. This property was built in 1906. 245 Walnut St is a home located in Monterey County with nearby schools including Robert Down Elementary School, Pacific Grove Middle School, and Pacific Grove High School.

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