NOT LISTED FOR SALE

260 Lighthouse Ave Pacific Grove, CA 93950

-- Bed
8 Baths
7,423 Sq Ft
8,350 Sq Ft Lot

Last Sold May 12, 2022

Last sale price $3,000,000 $404 Per Sq Ft

20 Days on Market

Highlights

  • Bay View
  • Storage Room
  • Vinyl Flooring
  • Robert Down Elementary School Rated A
  • Forced Air Heating System

About This Home

As of May 2022

Eight unit apartments building in Pacific Grove. Two block to the bay and few blocks to downtown area. Several units have very good views, several units have decent views. Condition is quite original. See property inspection by emailing agent. One penthouse unit with 2 bed 1.5 bath, 5 two bed 1 bath, 1 studio, and 1 one bed.

Last Agent to Sell the Property

Eric Stauffer

Sotheby’s International Realty License #01006365 Listed on: 02/18/2022

Co-Listed By

Stacy Stauffer

Sotheby’s International Realty License #01938738

Last Buyer's Agent

Eric Stauffer

Sotheby’s International Realty License #01006365 Listed on: 02/18/2022

Property Details

Home Type

  • Multi-Family

Year Built

  • 1961

Lot Details

  • 8,350 Sq Ft Lot

Home Design

  • Slab Foundation
  • Shingle Roof
  • Composition Roof

Interior Spaces

  • 7,423 Sq Ft Home
  • 3-Story Property
  • Storage Room
  • Bay Views
  • Crawl Space

Flooring

  • Laminate
  • Vinyl

Parking

  • 8 Parking Spaces
  • 8 Carport Spaces
  • Assigned Parking

Utilities

  • Forced Air Heating System
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $191,000
  • Month-to-Month Lease Term

Community Details

Overview

  • 7,423 Sq Ft Building

Building Details

  • 6 Leased Units
  • Insurance Expense $9,000
  • Other Expense $1,000
  • Utility Expense $9,300
  • Trash Expense $500
  • Operating Expense $19,800
  • Gross Income $171,900

Property Details

Home Type

Multi-Family

Year Built

1961

Lot Details

0

Listing Details

  • Zoning: Apt. 5-15
  • Subclass: Multiple Dwellings / Structures
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 7423
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1961

Interior Features

  • Living Sq Ft: 7423
  • Stories: 3
  • Flooring: Laminate, Vinyl / Linoleum
  • Additional Rooms: Storage

Exterior Features

  • Foundation: Concrete Block, Concrete Slab, Crawl Space
  • Roof: Composition, Shingle
  • View: Bay

Garage/Parking

  • Parking Spaces: 8
  • Garage Parking Features: Assigned Spaces, Covered Parking
  • Carport Min: 8

Utilities

  • Heating System: Central Forced Air - Gas, Wall Furnace
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.1917
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 8351.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 8351.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 18.32
  • Number Of Leased: 6

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 9000
  • Expenses Other: 1000
  • Expenses Total: 19800
  • Expenses Utility: 9300
  • Expense Trash: 500
  • Income Annual Gross: 171900.00
  • Income Annual Rental: 191000
  • Income Gross Scheduled: 191000
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 2
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 10

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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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
05/12/2022 05/12/22 Sold $3,000,000 -14.3% $404 / Sq Ft
03/11/2022 03/11/22 Pending -- -- --
02/18/2022 02/18/22 For Sale $3,500,000 -- $472 / 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: ML81879000

MLSListings