449 Alvarado St - Storefront Retail/Residential FOR SALE


Monterey, CA 93940
$3,900,000 USD
831-601-3284
449 Alvarado St, Monterey, CA for Sale
$3,900,000 USD
Storefront Retail/Residential - FOR SALE
1/34
null | 5.77% Cap Rate

449 Alvarado St
Monterey, CA 93940


HIGHLIGHTS

  • 2 Structure Plan to make a mixed use building
  • New building to be buildt
  • Existing will be a 3 story residential building with 16 apartments

OVERVIEW

Includes plans to convert to a 20 unit three story mixed use building!!!! Prime location downtown Monterey, THE EXISTING BUILDING IS PROPOSED TO BE A 3-STORY RESIDENTIAL BUILDING. THE NEW BUILDING WILL BE CONSISTING OF (2) COMMERCIAL-LEASE SPACES ON THE GROUND FLOOR AND RESIDENTIAL UNITS ABOVE. OVERALL THE PROJECT WILL CONSIST OF 20 RESIDENT UNITS INCLUDING (5) STUDIOS, (12) 1 BD, AND (2) 2 BD TYPE UNITS. I believe it is 20 units 2 Structure Redevelopment Plan Please see RRM Plans attached New Structure Located in front of existing coin Shoppe 4-6 Residential units 2 Retail spaces with entry through middle Existing Structure To be converted into a 16 unit apartment building with Retail space Street level to be mix of residential and commercial Mezzanine (aka 2nd floor) to be expanded to accommodate 4 one bed apartments Third floor to be created to accommodate 4 one bedroom apartments Coine Shoppe to remain in retail space on street level Basement to provide storage for apartments in 4000 SF 9000 SF of basement available for future use. Building SF goes from 19597 to 26,687 including new building. Property is 13, 112 SF THE EXISTING BUILDING IS PROPOSED TO BE A 3-STORY RESIDENTIAL BUILDING. THE NEW BUILDING WILL BE CONSISTING OF (2) COMMERCIAL-LEASE SPACES ON THE GROUND FLOOR AND RESIDENTIAL UNITS ABOVE. OVERALL THE PROJECT WILL CONSIST OF NINETEEN RESIDENT UNITS INCLUDING (5) STUDIOS, (12) 1 BD, AND (2) 2 BD TYPE UNITS. I believe it is 20 units

FOR SALE DETAILS

PRICE

$3,900,000 USD

PRICE/SF

$161 USD /SF

CAP RATE

5.77%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

ADD'L SUBTYPES

Office/Residential, Industrial Live/Work Unit

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1965

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.42 AC

LAND SF

18,295 SF

ZONING

C-1

APN/PARCEL ID

001-574-028-000

ASK ABOUT THIS PROPERTY

Anthony DaviA.G. Davi Property ManagementMore Info
831-601-3284

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Anthony DaviA.G. Davi Property ManagementMore Info
831-601-3284

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