NOT LISTED FOR SALE

828 Lighthouse Ave Monterey, CA 93940

New Monterey Neighborhood

Estimated Value: $1,270,289

Studio
1 Bath
3,040 Sq Ft
$418/Sq Ft Est. Value

Last Sold June 09, 2022

Last sale price $1,250,000 $411 Per Sq Ft

Est. 2% increase in value since last sale

Current estimated payment $7,778/month

28 Days on Market

Highlights

  • Concrete Flooring
  • Monterey High School Rated A
  • 1-Story Property

About This Home

As of June 2022

Prime location on a high-exposure street, located two blocks from Cannery Row, the Monterey Bay Aquarium and close to Fisherman's Wharf, Downtown Monterey and Pacific Grove. This site offers 3,100sf of retail warehouse space, has 6 off-street parking spaces, 16-18 foot ceiling heights and a large roll-up door. The building is in great condition with the following systems upgraded in 2017 - roof, electrical, plumbing and sewer line. Since then it has received upgraded lighting and recent termite treatment with a two-year warranty. Upside opportunity for an investor or developer. See page 48 of the Lighthouse Specific Plan for permitted and conditional uses. Included but not limited to Amplified Music, Assembly, Food & Beverage Sales, Retail, Restaurant, Service and Temporary Uses. Its a blank canvas full of possibilities!

Last Agent to Sell the Property

Pete Ruiz

KW Coastal Estates License #70010112 Listed on: 04/18/2022

KW Coastal Estates

Last Buyer's Agent

Will Pennycook, IV

Pennycook Properties License #01791934

Property Details

Home Type

  • Multi-Family

Year Built

  • 1964

Lot Details

  • 4,792

Home Design

  • Flat Roof Shape
  • Slab Foundation

Interior Spaces

  • 3,040 Sq Ft Home
  • 1-Story Property
  • Concrete Flooring

Parking

  • 6 Parking Spaces
  • On-Street Parking
  • Uncovered Parking

Additional Features

  • 4,792 Sq Ft Lot
  • No Heating

Listing and Financial Details

  • Total Actual Rent $72,000

Community Details

Overview

Building Details

  • Gross Income $72,000

Property Details

Home Type

Multi-Family

Year Built

1964

Lot Details

0

Listing Details

  • Zoning: PC-Planned Community
  • Subclass: Multiple Dwellings / Structures
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3040
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1964

Interior Features

  • Living Sq Ft: 3040
  • Stories: 1
  • Flooring: Concrete

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Flat / Low Pitch

Garage/Parking

  • Parking Spaces: 6
  • Garage Parking Features: On Street, Room For Oversized Vehicle, Uncovered Parking

Utilities

  • Heating System: No Heating
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.1100
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 4791.60
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 4791.60

Rental Info

  • Gross Rent Multiplier: 19.10

Multi Family

  • Utilities: Public Utilities
  • Income Annual Gross: 72000.00
  • Income Annual Rental: 72000
  • Income Gross Scheduled: 72000
  • Income Includes: Lease
  • Meters: Master Electric, Master Gas, Master Water
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Tax, Maintenance
  • Tenant Expenses: All Expenses

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Apr 18, 2022
Closed on
Jun 3, 2022
Sold by
828 Lighthouse Avenue Llc
Bought by
Rexdol Llc
Seller's Agent
Pete Ruiz
KW Coastal Estates
Buyer's Agent
Will Pennycook, IV
Pennycook Properties
List Price
$1,375,000
Sold Price
$1,250,000
Premium/Discount to List
-$125,000
-9.09%
Current Estimated Value
$1,270,289

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$20,289
Avg. Annual Appreciation
0.44%

Purchase Details

Closed on
Dec 17, 2012
Sold by
Rodatos Constantine D
Bought by
828 Lighthouse Avenue Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$360,000
Interest Rate
3.43%
Mortgage Type
Seller Take Back

Purchase Details

Closed on
Oct 25, 2012
Sold by
Rodatos Amanda Serradell
Bought by
Rodatos Constantine D

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$360,000
Interest Rate
3.43%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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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
Rexdol Llc $1,250,000 Chicago Title
828 Lighthouse Avenue Llc -- None Available
Rodatos Constantine D -- Stewart Title Of California
Rodatos Constantine D $440,000 Stewart Title Of California
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Rodatos Constantine D $360,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
06/09/2022 06/09/22 Sold $1,250,000 -9.1% $411 / Sq Ft
05/17/2022 05/17/22 Pending -- -- --
04/18/2022 04/18/22 For Sale $1,375,000 -- $452 / Sq Ft
Source: MLSListings

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 $14,101 $1,326,510 $795,906 $530,604
2024 $14,101 $1,300,500 $780,300 $520,200
2023 $13,927 $1,275,000 $765,000 $510,000
2022 $5,699 $1,250,000 $750,000 $500,000
2021 $5,618 $500,558 $204,773 $295,785
2020 $5,409 $495,427 $202,674 $292,753
2019 $5,673 $485,713 $198,700 $287,013
2018 $5,449 $476,190 $194,804 $281,386
2017 $5,053 $466,854 $190,985 $275,869
2016 $4,964 $457,701 $187,241 $270,460
2015 $4,895 $450,827 $184,429 $266,398
2014 $4,812 $441,997 $180,817 $261,180
Source: Public Records

Agents Affiliated with this Home

  • P

    Seller's Agent in 2022

    Pete Ruiz

    KW Coastal Estates

    Section Image

  • W

    Buyer's Agent in 2022

    Will Pennycook, IV

    Pennycook Properties

    (831) 261-4851

    1 in this area

    18 Total Sales

    Will Pennycook, IV
    Section Image
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Map

Source: MLSListings

MLS Number: ML81887424

MLSListings

APN: 001-071-014-000

California Monterey County Monterey 93940 New Monterey

828 Lighthouse Ave, Monterey, CA

Not Listed for Sale

MultiFamily

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