NOT LISTED FOR SALE

950 Lighthouse Ave Pacific Grove, CA 93950

8 Beds
4 Baths
3,552 Sq Ft
9,100 Sq Ft Lot

Last Sold July 31, 2020

Last sale price $1,837,500 $517 Per Sq Ft

31 Days on Market

Highlights

  • Ocean View
  • 5 Car Attached Garage
  • Carpet
  • Robert Down Elementary School Rated A

About This Home

As of July 2020

Rare Landmark 4plex in desirable Pacific Grove, walking distance to downtown, golf and the lovers point. Two units have partial water views, two units have been updated, 5 garages on huge 9,100 SF lot. Large basement, onsite laundry room.

Last Agent to Sell the Property

Bill Phillips

Phillips Real Estate License #00625289 Listed on: 05/05/2020

Last Buyer's Agent

C&C Real Estate Team

Better Homes And Gardens Real Estate By The Sea License #70010156

Property Details

Home Type

  • Multi-Family

Year Built

  • 1958

Lot Details

  • 9,100

Parking

  • 5 Car Attached Garage

Home Design

  • Quadruplex
  • Wood Frame Construction
  • Tar and Gravel Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 3,552 Sq Ft Home
  • 2-Story Property
  • Ocean Views

Flooring

  • Carpet
  • Vinyl

Additional Features

  • 9,100 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $108,144
  • Month-to-Month Lease Term

Community Details

Overview

  • 3,552 Sq Ft Building

Building Details

  • 3 Leased Units
  • Gardener Expense $1,200
  • Insurance Expense $12,000
  • Maintenance Expense $1,200
  • Manager Expense $1,200
  • Other Expense $1,500
  • Utility Expense $1,800
  • Trash Expense $1,800
  • Operating Expense $38,196
  • Gross Income $106,569

Property Details

Home Type

Multi-Family

Year Built

1958

Lot Details

9,100 Sq Ft Lot

Parking

5

Listing Details

  • Zoning: 2c
  • Subclass: Fourplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 3552
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1958

Interior Features

  • Living Sq Ft: 3552
  • Stories: 2
  • Flooring: Carpet, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Tar And Gravel
  • View: Ocean
  • Construction Type: Wood Frame

Garage/Parking

  • Garage Spaces: 5
  • Garage Parking Features: Attached Garage

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Lot Info

  • Lot Acres: 0.2089
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 9100.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 9100.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Month To Month
  • Gross Rent Multiplier: 19.77
  • Number Of Leased: 3

Multi Family

  • Utilities: Natural Gas
  • Expense Insurance: 12000
  • Expense Landscape: 1200
  • Expense Maintenance: 1200
  • Expense Management: 1200
  • Expenses Other: 1500
  • Expenses Total: 38196
  • Expenses Utility: 1800
  • Expense Trash: 1800
  • Income Annual Gross: 106569.00
  • Income Annual Rental: 108144
  • Income Gross Scheduled: 108744
  • Income Includes: Laundry
  • Income Other: 600
  • Meters: Separate Common Area, Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Maintenance - Laundry, Maintenance - Repair, Review With Offer, Utilities - Electric, Utilities - Heat, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water
  • Vacancy Factor: 2
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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
07/31/2020 07/31/20 Sold $1,837,500 -14.5% $517 / Sq Ft
06/06/2020 06/06/20 Pending -- -- --
05/05/2020 05/05/20 For Sale $2,150,000 -- $605 / 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 $21,941 $2,095,688 $906,536 $1,189,152
2024 $21,941 $2,054,009 $888,761 $1,165,248
2023 $22,262 $2,013,735 $871,335 $1,142,400
2022 $20,719 $1,974,250 $854,250 $1,120,000
2021 $20,614 $1,837,500 $837,500 $1,000,000
2020 $18,069 $1,625,040 $624,783 $1,000,257
2019 $17,497 $1,593,189 $612,533 $980,656
2018 $14,319 $1,300,600 $600,000 $700,600
2017 $13,822 $1,250,600 $600,000 $650,600
2016 $12,460 $1,100,600 $600,000 $500,600
2015 $11,611 $1,025,600 $550,000 $475,600
2014 $10,763 $950,600 $500,000 $450,600
Source: Public Records

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Map

Source: MLSListings

MLS Number: ML81791389

MLSListings
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