NOT LISTED FOR SALE

476 Cortes St Monterey, CA 93940

East Monterey Neighborhood

Estimated Value: $1,871,796 - $2,248,000

7 Beds
4 Baths
2,758 Sq Ft
$747/Sq Ft Est. Value

Last Sold December 20, 2017

Last sale price $1,260,000 $457 Per Sq Ft

Est. 63% increase in value since last sale

Current estimated payment $12,513/month

4 Days on Market

Highlights

  • Wood Flooring
  • Washer and Dryer
  • 1-minute walk to Jack's Park
  • Monterey High School Rated A

About This Home

As of December 2017

This is a rare opportunity for a 4-plex is the heart of coveted downtown Monterey. The 4 units include a main home with 3 bedrooms 2 baths, 2 apartments above, 2 bedroom 1 bath and a 1 bedroom 1 bath and a separate 1 bedroom 1 bath cottage attached to a 1 car garage. There is long driveway and quaint, cozy courtyard between the 2 buildings!The main home acts as a time capsule reminiscent of earlier days and is preserved gorgeously boasting its old time charms with built in dressing armories, curved corner ceilings, and honeycomb tile. The main home has new carpet and has been freshly painted. Amazing opportunity to live in one and collect the rental income on the others. There are endless possibilities for investors or owner occupants alike!

Last Agent to Sell the Property

Samantha Storelli

Intero Real Estate Services License #01339138 Listed on: 11/09/2017

Intero Real Estate Services

Last Buyer's Agent

Kyle Chernetsky

Better Homes And Gardens Real Estate By The Sea License #01928366

Better Homes And Gardens Real Estate By The Sea

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $15,468

Year Built

  • 1932

Lot Details

  • 3,655 Sq Ft Lot

Parking

  • 1 Car Garage
  • On-Street Parking

Home Design

  • Quadruplex
  • Shingle Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,758 Sq Ft Home
  • 2-Story Property
  • Gas Oven
  • Washer and Dryer

Flooring

  • Wood
  • Carpet
  • Tile
  • Vinyl

Utilities

  • Wall Furnace
  • Separate Meters
  • Individual Gas Meter
  • Sewer Within 50 Feet

Listing and Financial Details

  • Total Actual Rent $75,600

Community Details

Overview

  • 2,758 Sq Ft Building

Building Details

  • 3 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $1,500
  • Maintenance Expense $3,000
  • Other Expense $600
  • Utility Expense $924
  • Trash Expense $1,288
  • Operating Expense $9,293
  • Gross Income $71,820

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$15,468

Year Built

1932

Lot Details

0

Parking

1

Listing Details

  • Zoning: res
  • Subclass: Fourplex
  • Age: 85
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2758
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1932

Interior Features

  • Kitchen: Oven Range - Gas, Refrigerator
  • Living Sq Ft: 2758
  • Stories: 2
  • Laundry: Washer / Dryer
  • Flooring: Carpet, Hardwood, Tile, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Shingle

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 2
  • Garage Parking Features: On Street

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer Connected, Sewer In Street

Schools

  • School District: Monterey Peninsula Unified

Lot Info

  • Lot Acres: 0.0839
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 3653.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 3653.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 15.87
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 1500
  • Expense Landscape: 1200
  • Expense Maintenance: 3000
  • Expenses Other: 600
  • Expenses Total: 9293
  • Expenses Utility: 924
  • Expense Trash: 1288
  • Income Annual Gross: 71820.00
  • Income Annual Rental: 75600
  • Income Gross Scheduled: 75600
  • Meters: Separate Electric, Separate Gas, Separate Other, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Insurance, Services - Trash Removal, Utilities
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Water
  • Vacancy Factor: 5

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Mar 12, 2021
Sold by
Cesario Kevin J and Cesario Jennifer Mary
Bought by
Cesario Kevin J and Cesario Jennifer Mary
Current Estimated Value
$2,059,898

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$943,500
Interest Rate
2.7%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jun 12, 2020
Sold by
Chernetsky Melissa and Chernetsky Kyle
Bought by
Chernetsky Kyle and Chernetsky Melissa J

Purchase Details

Closed on
Jan 10, 2002
Sold by
Balestreri Crocifissa
Bought by
Balestreri Crocifissa and The Crocifissa Balestreri Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$135,000
Interest Rate
6.84%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 16, 1997
Sold by
Balestreri Crocifissa
Bought by
Balestreri Crocifissa and Crocifissa Balestreri Trust

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
7.46%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 10, 1997
Sold by
Balestreri Crocifissa
Bought by
Balestreri Crocifissa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$120,000
Interest Rate
7.46%
Mortgage Type
Commercial

Purchase Details

Closed on
Aug 27, 1996
Sold by
Balestreri Crocifissa
Bought by
Balestreri Crocifissa
Source: Public Records

Range of Values:

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Average Value
Not Available
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

Purchase History

Date Buyer Sale Price Title Company
Cesario Kevin J -- Accommodation
Cesario Kevin J -- Fidelity National Title Co
Chernetsky Kyle -- None Available
Cesario Kevin J -- None Available
Balestreri Crocifissa -- Stewart Title
Balestreri Crocifissa -- Stewart Title
Balestreri Crocifissa -- --
Balestreri Crocifissa -- Stewart Title
Balestreri Crocifissa -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Closed Cesario Kevin J $943,500
Closed The Crocifissa Balestreri Trust $938,250
Closed Balestreri Crocifissa $50,000
Closed Balestreri Crocifissa $150,000
Closed Balestreri Crocifissa $135,000
Closed Balestreri Crocifissa $20,000
Closed Balestreri Crocifissa $120,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/20/2017 12/20/17 Sold $1,260,000 +5.0% $457 / Sq Ft
11/14/2017 11/14/17 Pending -- -- --
11/09/2017 11/09/17 For Sale $1,200,000 -- $435 / 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 $15,468 $1,433,661 $682,696 $750,965
2024 $15,468 $1,405,551 $669,310 $736,241
2023 $15,078 $1,377,992 $656,187 $721,805
2022 $14,871 $1,350,973 $643,321 $707,652
2021 $14,656 $1,324,484 $630,707 $693,777
2020 $14,103 $1,310,904 $624,240 $686,664
2019 $14,803 $1,285,200 $612,000 $673,200
2018 $14,210 $1,260,000 $600,000 $660,000
2017 $793 $57,934 $21,257 $36,677
2016 $781 $56,799 $20,841 $35,958
2015 $772 $55,946 $20,528 $35,418
2014 $762 $54,851 $20,126 $34,725
Source: Public Records

Agents Affiliated with this Home

  • Samantha Storelli

    Seller's Agent in 2017

    Samantha Storelli

    Intero Real Estate Services

    (831) 236-6789

    41 Total Sales

    Samantha Storelli
    Section Image

  • K

    Buyer's Agent in 2017

    Kyle Chernetsky

    Better Homes And Gardens Real Estate By The Sea

    (831) 372-1964

    3 Total Sales

    Kyle Chernetsky
    Section Image
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Map

Source: MLSListings

MLS Number: ML81684332

MLSListings

APN: 001-715-007-000

California Monterey County Monterey 93940 East Monterey

476 Cortes St, Monterey, CA

This home is located at 476 Cortes St, Monterey, CA 93940 since 09 November 2017 and is currently estimated at $2,059,898, approximately $746 per square foot. This property was built in 1932. 476 Cortes 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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