NOT LISTED FOR SALE

574 Cortes St Monterey, CA 93940

East Monterey Neighborhood

Estimated Value: $2,480,908

-- Bed
6 Baths
5,191 Sq Ft
$478/Sq Ft Est. Value

Last Sold May 02, 2018

Last sale price $1,750,000 $337 Per Sq Ft

Est. 42% increase in value since last sale

Current estimated payment $15,195/month

404 Days on Market

Highlights

  • 0.23 Acre Lot
  • Forced Air Heating and Cooling System
  • 3-minute walk to Jack's Park
  • Monterey High School Rated A

About This Home

As of May 2018

This home is located at 574 Cortes St, Monterey, CA 93940 since 21 February 2017 and is currently estimated at $2,480,908, approximately $477 per square foot. This property was built in 1934. 574 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.

Last Agent to Sell the Property

Patrick Stafford

Baird Partnership, Inc. License #01857243 Listed on: 02/21/2017

Last Buyer's Agent

RECIP

Out of Area Office License #00000000

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $21,382

Year Built

  • 1934

Lot Details

  • 9,801 Sq Ft Lot

Home Design

  • 5,191 Sq Ft Home
  • Permanent Foundation
  • Shingle Roof
  • Composition Roof

Home Security

  • Alarm System
  • Fire and Smoke Detector

Parking

  • 12 Parking Spaces
  • Off-Street Parking

Utilities

  • Forced Air Heating and Cooling System
  • Wall Furnace
  • Separate Meters

Listing and Financial Details

  • Total Actual Rent $85,566

Community Details

Overview

  • 5,191 Sq Ft Building

Building Details

  • 3 Leased Units
  • Insurance Expense $2,281
  • Maintenance Expense $1,500
  • Other Expense $963
  • Operating Expense $23,104
  • Gross Income $82,999

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$21,382

Year Built

1934

Lot Details

0

Listing Details

  • Zoning: PC-D
  • Subclass: Multiple Dwellings / Structures
  • Age: 84
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 5191
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1934

Interior Features

  • Living Sq Ft: 5191
  • Security: Fire Alarm, Security Alarm

Exterior Features

  • Foundation: Permanent
  • Roof: Composition, Shingle

Garage/Parking

  • Parking Spaces: 12
  • Garage Parking Features: Off-Street Parking

Utilities

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

Schools

  • School District: Monterey Peninsula Unified

Lot Info

  • Lot Acres: 0.2250
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 9800.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 9800.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 21.04
  • Number Of Leased: 3

Multi Family

  • Utilities: Individual Electric Meters
  • Expense Insurance: 2281
  • Expense Maintenance: 1500
  • Expenses Other: 963
  • Expenses Total: 23104
  • Income Annual Gross: 82999.00
  • Income Annual Rental: 85566
  • Income Gross Scheduled: 85566
  • Income Includes: Rents
  • Meters: Separate Electric, Separate Gas, Separate Other, Separate Water
  • Number Of Buildings: 3
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Sewer
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Water
  • Vacancy Factor: 3

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
May 5, 2023
Sold by
Sarah S Johnson Trust
Bought by
Hansen Trust
Current Estimated Value
$2,480,908

Purchase Details

Closed on
Feb 7, 2022
Sold by
Melo Anthony M
Bought by
Anthony Melo Revocable Trust

Purchase Details

Closed on
Oct 16, 2021
Sold by
Johnson Eric M and The Eric M Johnson Trust
Bought by
Johnson Eric M and Johnson Aurora M

Purchase Details

Listed on
Feb 21, 2017
Closed on
Apr 27, 2018
Sold by
Amaral George and The George Amaral Living Trust
Bought by
Johnson Susan M and Johnson Mark H
Seller's Agent
Patrick Stafford
Baird Partnership, Inc.
Buyer's Agent
RECIP
Out of Area Office
List Price
$1,900,000
Sold Price
$1,750,000
Premium/Discount to List
-$150,000
-7.89%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.86%
Original Mortgage
$1,600,000
Interest Rate
4.44%
Mortgage Type
Commercial

Purchase Details

Closed on
Feb 24, 2012
Sold by
Amaral George
Bought by
Amaral George and The George Amaral Living Trust

Purchase Details

Closed on
Jul 19, 2005
Sold by
Venter Barbara Rae
Bought by
Amaral George and Amaral Adrian David

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,575,000
Interest Rate
5.56%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 23, 2002
Sold by
Post Family Partnership Lp
Bought by
Venter Barbara Rae

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$1,185,000
Interest Rate
6.8%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Mar 25, 1999
Sold by
Post Roger R and Post Sally J
Bought by
Post Family Partnership Lp
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
Hansen Trust -- None Listed On Document
Anthony Melo Revocable Trust -- None Listed On Document
Johnson Eric M -- None Available
Johnson Susan M $1,750,000 Old Republic Title Co
Amaral George -- None Available
Amaral George $1,750,000 --
Venter Barbara Rae $1,285,000 Old Republic Title Company
Post Family Partnership Lp -- --
Post Roger R -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Johnson Susan M $1,600,000
Previous Owner Amaral George $1,575,000
Previous Owner Venter Barbara Rae $1,185,000
Previous Owner Post Roger R $400,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
05/02/2018 05/02/18 Sold $1,750,000 -7.9% $337 / Sq Ft
04/02/2018 04/02/18 Pending -- -- --
02/21/2017 02/21/17 For Sale $1,900,000 -- $366 / 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 $21,382 $1,991,194 $1,003,561 $987,633
2024 $21,382 $1,952,152 $983,884 $968,268
2023 $20,976 $1,913,876 $964,593 $949,283
2022 $20,689 $1,876,350 $945,680 $930,670
2021 $20,391 $1,839,560 $927,138 $912,422
2020 $19,623 $1,820,699 $917,632 $903,067
2019 $20,597 $1,785,000 $899,640 $885,360
2018 $19,774 $1,750,000 $600,000 $1,150,000
2017 $15,631 $1,460,000 $470,000 $990,000
2016 $11,867 $1,100,000 $350,000 $750,000
2015 $13,454 $1,250,000 $350,000 $900,000
2014 $20,877 $1,950,886 $836,093 $1,114,793
Source: Public Records

Agents Affiliated with this Home

  • Patrick Stafford

    Seller's Agent in 2018

    Patrick Stafford

    Baird Partnership, Inc.

    (831) 655-9214

    28 Total Sales

    Patrick Stafford
    Section Image

  • R

    Buyer's Agent in 2018

    RECIP

    Out of Area Office

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Map

Source: MLSListings

MLS Number: ML81689323

MLSListings

APN: 001-725-006-000

California Monterey County Monterey 93940 East Monterey

574 Cortes St, Monterey, CA

This home is located at 574 Cortes St, Monterey, CA 93940 since 21 February 2017 and is currently estimated at $2,480,908, approximately $477 per square foot. This property was built in 1934. 574 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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