NOT LISTED FOR SALE
7 Beds
3 Baths
2,800 Sq Ft
5,959 Sq Ft Lot

Last Sold August 31, 2021

Last sale price $1,350,000 $482 Per Sq Ft

64 Days on Market

Highlights

  • Forced Air Heating System
  • Washer and Dryer
  • Carpet
  • Monterey High School Rated A
  • Gentle Sloping Lot

About This Home

As of August 2021

Well Maintained Triplex in an amazing Old Town Monterey location. A walking and biking paradise with easy access to Downtown, Fisherman's wharf, and everything that Monterey has to offer. The Presidio, DLI, and Middlebury institute are also nearby in one of Monterey's best locations.. Large 4 bedroom, 1 bath home with indoor laundry, fireplace and recent central heating system installed. Downstairs 2 bedroom, 1 bath has indoor laundry and updated flooring. All units have dual pane windows, and have been well cared for. Large back yard and R3-6 zoning may allow for additional units.

Last Agent to Sell the Property

Frank Rich

Fireside Realty License #01252424 Listed on: 05/11/2021

Fireside Realty

Last Buyer's Agent

Dorothy Coulter

EXIT Realty Consultants License #01800430

EXIT Realty Consultants

Property Details

Home Type

  • Multi-Family

Year Built

  • 1927

Lot Details

  • 5,959 Sq Ft Lot
  • Gentle Sloping Lot

Parking

  • 1 Car Garage
  • Off-Street Parking

Home Design

  • Triplex
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,800 Sq Ft Home
  • 2-Story Property
  • Washer and Dryer

Kitchen

  • Gas Oven
  • Gas Cooktop
  • Range Hood

Flooring

  • Carpet
  • Vinyl

Utilities

  • Forced Air Heating System
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $78,120
  • Renewal Option

Community Details

Overview

Building Details

  • 3 Leased Units
  • Gardener Expense $1,200
  • Maintenance Expense $100
  • Manager Expense $4,395
  • Utility Expense $4,000
  • Trash Expense $2,579
  • Operating Expense $25,404
  • Gross Income $70,308

Property Details

Home Type

Multi-Family

Year Built

1927

Lot Details

0

Parking

1

Listing Details

  • Zoning: R3-6
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2800
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1927

Interior Features

  • Kitchen: Cooktop - Gas, Hood Over Range, Hookups - Gas, Oven Range - Gas, Refrigerator
  • Living Sq Ft: 2800
  • Stories: 2
  • Laundry: Washer/Dryer - Some Units
  • Flooring: Carpet, Vinyl / Linoleum

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Garage Spaces: 1
  • Parking Spaces: 4
  • Garage Parking Features: Off-Street Parking, Parking Restrictions

Utilities

  • Heating System: Central Forced Air - Gas, Wall Furnace
  • Sewer/Septic System: Sewer Connected

Schools

  • High School: 545

Lot Info

  • Lot Description: Grade - Gently Sloped
  • Lot Acres: 0.1368
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5960.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5960.00

Rental Info

  • Existing Lease Term(s): 1 Year Lease, Renewal Option, Security Deposit
  • Gross Rent Multiplier: 17.92
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Landscape: 1200
  • Expense Maintenance: 100
  • Expense Management: 4395
  • Expenses Total: 25404
  • Expenses Utility: 4000
  • Expense Trash: 2579
  • Income Annual Gross: 70308.00
  • Income Annual Rental: 78120
  • Income Gross Scheduled: 78120
  • Meters: Master Water, Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Vacancy Factor: 10

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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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

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
08/31/2021 08/31/21 Sold $1,350,000 -3.6% $482 / Sq Ft
07/15/2021 07/15/21 Pending -- -- --
06/09/2021 06/09/21 For Sale $1,400,000 0.0% $500 / Sq Ft
05/26/2021 05/26/21 Pending -- -- --
05/11/2021 05/11/21 For Sale $1,400,000 +21.7% $500 / Sq Ft
04/07/2017 04/07/17 Sold $1,150,000 0.0% $411 / Sq Ft View Prior Sale
02/28/2017 02/28/17 Pending -- -- --
02/01/2017 02/01/17 For Sale $1,150,000 -- $411 / 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 $15,507 $1,432,630 $530,604 $902,026
2024 $15,507 $1,404,540 $520,200 $884,340
2023 $15,057 $1,377,000 $510,000 $867,000
2022 $14,850 $1,350,000 $500,000 $850,000
2021 $13,646 $1,350,000 $500,000 $850,000
2020 $13,131 $1,220,388 $477,543 $742,845
2019 $13,781 $1,196,460 $468,180 $728,280
2018 $13,230 $1,173,000 $459,000 $714,000
2017 $3,136 $282,219 $127,451 $154,768
2016 $3,082 $276,686 $124,952 $151,734
2015 $3,039 $272,531 $123,076 $149,455
2014 $2,990 $267,194 $120,666 $146,528
Source: Public Records

Agents Affiliated with this Home

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Source: MLSListings

MLS Number: ML81843285

MLSListings

APN: 001-521-014