Pacific Grove, CA 93950,Address not disclosed
Pacific Grove, CA 93950,Address not disclosed
Pacific Grove, CA 93950,Address not disclosed
Pacific Grove, CA 93950,Address not disclosed
Pacific Grove, CA 93950,Address not disclosed
Pacific Grove, CA 93950,Address not disclosed
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$2,025,000

$2,150,000

5.8%
Est.Price: ?

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Est. payment /mo

6,224 Sqft Lot


SOLD DATE : 02/18/2021

Key Details

Sold Price $2,025,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID ML81807525

Sold Date 02/18/21

HOA Y/N No

Year Built 1959

Lot Size 6,224 Sqft

Property Description

Ideal location within Coastal Zone which may qualify for 'future' consideration and permitting as a 'Short-Term Rental' investment as determined by the City of Pacific Grove and the California Coastal Commission. Resting on the cusp of Ocean View Blvd, The Monterey Bay Aquarium and Cannery Row, this 5 unit(4 with ocean views), fully leased 1bed/1bath 'low' maintenance apartment complex is available today for SALE. Strong NOI with healthy cap rate, this investment has strong measurables and room to increase rents robustly for years to come. Pride of Ownership and well maintained, this 'rare' find is a turnkey with positive cash flow 'Day One.' Contact the City of Pacific Grove's Community Development Dept for rules and guidelines for future 'Short Term Rental' permit opportunities.

Location

State CA

County Monterey

Area 699 - Not Defined

Zoning R-3

Interior

Heating Forced Air

Cooling None

Fireplace No

Laundry None

Exterior

Carport Spaces 5

Roof Type Flat,Tar/Gravel

Total Parking Spaces 4

Building

Water Public

Schools

Elementary Schools Other

Middle Schools Pacific Grove

High Schools Pacific Grove

School District Other

Others

Tax ID 006224016000

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Michael Zabrycki • Michael Zabrycki, Broker
Bought with Carol L. Duncan • Sotheby's Int'l Realty-Valley
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