410 Central Ave - Apartments FOR SALE


Pacific Grove, CA 93950- Outer Monterey
$2,050,000 USD
831-646-1919
410 Central Ave, Pacific Grove, CA for Sale
$2,050,000 USD
Apartments - FOR SALE
1/23
null | Request Cap Rate

410 Central Ave
Pacific Grove, CA 93950
Outer Monterey


OVERVIEW

Mahoney & Associates is proud to present to the market the opportunity to acquire a 7-unit apartment complex in Pacific Grove. 410 Central Ave. is a 2 story multi-unit apartment building with a total of 7 units, each of which have their own kitchen, bathroom and heating units. The complex was originally built as a single-family residence in 1915, and is on the Historical Resource Inventory, giving a buyer the unique opportunity to restore this to its original splendor as a residence, or continue to utilize it as a multifamily opportunity. The property is on an oversized lot of 7,200 s.f. Zoning for the property is R-3-P.G.R., allowing for other myriad uses including the possibility of a bed and breakfast use after securing a use permit. The property is conveniently situated one block from Berwick Park, the Monterey Bay Coastal Trail and the ocean, and just 5 short blocks to downtown Pacific Grove, giving residents walking access to dining, shops and recreation. The property also features a 2-car garage and spacious yard with a specimen Moreton Bay Fig Tree offering privacy and exclusion. The tree is one of two seedlings that was reportedly brought from Australia in 1876 and planted by a young girl who was given a seedling – the other tree is the widest in North America and located in Santa Barbara. The property also features an expansive front porch of approximately 200 s.f. and contains a large basement area. All downstairs units have direct access to the exterior, and the upstairs units have exceptional natural light.

FOR SALE DETAILS

PRICE

$2,050,000 USD

PRICE/SF

$515 USD /SF

# OF UNITS

7

PRICE/UNIT

$292,857

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1915

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,355 SF

ZONING

R-3-P.G.R.

APN/PARCEL ID

006-187-001-000

ASK ABOUT THIS PROPERTY

Peter BairdMahoney & AssociatesMore Info
831-646-1919

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Peter BairdMahoney & AssociatesMore Info
831-646-1919

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.