NOT LISTED FOR SALE

434 Larkin St Monterey, CA 93940

Old Town Neighborhood
9 Beds
6 Baths
3,878 Sq Ft
5,850 Sq Ft Lot

Last Sold February 03, 2021

Last sale price $1,675,000 $432 Per Sq Ft

50 Days on Market

Highlights

  • Ocean View
  • Vaulted Ceiling
  • Granite Countertops
  • Monterey High School Rated A
  • Traditional Architecture
  • Balcony

About This Home

As of February 2021

***Rare Opportunity to own a 4-unit Apartment Building in Old Town Monterey*** This picture-perfect, 4-unit building boasts of an ideal location, spacious rooms, lovely views of Monterey Bay from the top unit, and monthly cash flow. It is set in a vibrant old Monterey neighborhood that breathes a relaxed ambiance. Its unique location is within easy walking distance to downtown Montereys exquisite shopping and trendy dining areas, Old Fishermans Wharf, and bike paths to historic Cannery Row. Nearby DLI, Naval Post-Graduate School & Middlebury Institute help generate a high rental demand. Residents enjoy covered parking, nice weather, and local golf courses. It is a treat for the senses and will not last long at this price. There are no gaming strategies or complex algorithms to turning your dreams of owning an investment property into a reality.

Last Agent to Sell the Property

Angelica Blatt

Coldwell Banker Realty License #01248430 Listed on: 10/18/2020

Coldwell Banker Realty

Co-Listed By

Kim Cutino

Coldwell Banker Realty License #01972539

Last Buyer's Agent

Angelica Blatt

Coldwell Banker Realty License #01248430 Listed on: 10/18/2020

Coldwell Banker Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • 1982

Lot Details

  • 5,850 Sq Ft Lot
  • Mostly Level

Property Views

  • Ocean
  • Bay
  • Downtown

Home Design

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

Interior Spaces

  • 3,878 Sq Ft Home
  • 2-Story Property
  • Vaulted Ceiling
  • Fireplace
  • Storage Room
  • Crawl Space

Kitchen

  • Gas Oven
  • Dishwasher
  • Granite Countertops
  • Tile Countertops
  • Disposal

Flooring

  • Carpet
  • Vinyl

Laundry

  • Laundry Room
  • Washer and Dryer

Parking

  • 2 Parking Spaces
  • 5 Carport Spaces
  • Enclosed Parking
  • On-Street Parking

Outdoor Features

  • Balcony

Utilities

  • Forced Air Heating System
  • Vented Exhaust Fan

Listing and Financial Details

  • Total Actual Rent $109,440
  • Month-to-Month Lease Term

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 4 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $3,109
  • Maintenance Expense $4,000
  • Other Expense $5,000
  • Utility Expense $360
  • Trash Expense $940
  • Operating Expense $30,375
  • Gross Income $106,157

Property Details

Home Type

Multi-Family

Year Built

1982

Lot Details

0

Listing Details

  • Zoning: R-3
  • Subclass: Fourplex
  • Style: Traditional
  • Age: 38
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3878
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1982

Interior Features

  • Kitchen: Countertop - Granite, Countertop - Tile, Dishwasher, Exhaust Fan, Garbage Disposal, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 3878
  • Stories: 2
  • Laundry: Coin Operated, Washer / Dryer
  • Flooring: Carpet, Vinyl / Linoleum
  • Additional Rooms: Laundry Room, Storage

Exterior Features

  • Foundation: Concrete Perimeter And Slab, Crawl Space
  • Roof: Composition
  • View: Bay, City, City Lights, Downtown, Ocean
  • Yard/Grounds: Balcony / Patio
  • Construction Type: Wood

Garage/Parking

  • Parking Spaces: 2
  • Garage Parking Features: Carport, Common Parking Area, Enclosed, On Street
  • Carport Min: 5

Utilities

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

Association/Amenities

  • Amenities Miscellaneous: Vaulted Ceiling

Schools

  • School District: Monterey Peninsula Unified
  • Elementary School: Monte Vista Elementary
  • Middle School: Walter Colton Middle School
  • High School: Monterey High
  • High School: 545
  • Elementary School: 544
  • Middle School: 37460

Lot Info

  • Lot Description: Grade - Mostly Level, Views
  • Lot Acres: 0.1343
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5850.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5850.00

Rental Info

  • Existing Lease Term(s): 2 Years Lease, Less Than 1 Yr, Month To Month, Security Deposit
  • Gross Rent Multiplier: 16.16
  • Number Of Leased: 4

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 3109
  • Expense Landscape: 1200
  • Expense Maintenance: 4000
  • Expenses Other: 5000
  • Expenses Total: 30375
  • Expenses Utility: 360
  • Expense Trash: 940
  • Income Annual Gross: 106157.00
  • Income Annual Rental: 109440
  • Income Gross Scheduled: 109440
  • Income Includes: Lease
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Services - Sewer, Services - Trash Removal, Utilities
  • Tenant Expenses: Utilities - Gas, Utilities - Heating
  • Vacancy Factor: 3

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 Change Sq Ft Price
02/03/2021 02/03/21 Sold $1,675,000 -5.3% $432 / Sq Ft
12/07/2020 12/07/20 Pending -- -- --
11/13/2020 11/13/20 For Sale $1,768,888 0.0% $456 / Sq Ft
10/20/2020 10/20/20 Pending -- -- --
10/18/2020 10/18/20 For Sale $1,768,888 -- $456 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Angelica Blatt

    Seller's Agent in 2021

    Angelica Blatt

    Coldwell Banker Realty

    (831) 206-8070

    1 in this area

    19 Total Sales

    Angelica Blatt
    Section Image
  • Kim Cutino

    Seller Co-Listing Agent in 2021

    Kim Cutino

    Coldwell Banker Realty

    (831) 601-0104

    1 in this area

    16 Total Sales

    Kim Cutino
    Section Image
See All Agents

Map

Source: MLSListings

MLS Number: ML81816333

MLSListings

APN: 001-393-006

California Monterey County Monterey 93940 Old Town

434 Larkin St, Monterey, CA

This home is located at 434 Larkin St, Monterey, CA 93940 since 18 October 2020. This property was built in 1982. 434 Larkin St is a home located in Monterey County with nearby schools including Monte Vista Elementary School, Monte Vista Middle School, and Monterey High School.

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