457 Spencer St - Apartments FOR SALE


Monterey, CA 93940
$3,500,000 USD
831-594-3290
457 Spencer St, Monterey, CA for Sale
$3,500,000 USD
Apartments - FOR SALE
1/43
null | 2.52% Cap Rate

457 Spencer St
Monterey, CA 93940


HIGHLIGHTS

  • Panoramic Bay Views
  • 2000 SF 2 bed 2.5 bath Penthouse unit
  • Garage for each unit
  • Laundry area
  • Owner area that can be converted to an ADU
  • 3 units with Ocean view and 1 two story townhouse with a private backyard.

OVERVIEW

Panoramic ocean view penthouse home 3 bed /2.5 bath with 3 apartments- two Ocean View remodeled and one Townhouse with private yard. All have a garage. Buyer has water and opportunity to add a 5th unit as an ADU Attention 1031 exchangers, investors or even second home searchers!!! Here is a rare opportunity to own a unique New Monterey 4 unit apartment complex with a spacious apx 1934 SF penthouse on top featuring expansive views of Monterey Bay and city lights. Also rare is the fact that all 4 units have been remodeled with updated flooring, countertops, stainless steel appliances, new windows, sliding glass doors, and paint inside and out. The penthouse boasts open beam ceilings and a wall of windows facing the Monterey Bay. There is a fireplace in the roomy living room, plus a dedicated dining room, ample kitchen, a dedicated laundry room and an apx. 151 SF deck. Below is a roughly 913 SF 2 bed, 1 bath unit and an approximately 714 SF 1 bed, 1 bath unit, both with bay views. Lastly, is an apx 978 SF 2 bedroom, 1.5 bath, townhouse style unit with the living space below and the bedrooms above w/ a private backyard. In total there is over 4500 SF of living space! Other amenities include 4 car garage, a community laundry room, a large storage area, several decks and new insulated top of the line garage doors. What a great opportunity to keep one for yourself and rent the rest out! go to https://my.matterport.com/show/?m=6ghrsp1n1q4 And Unit 1 - https://my.matterport.com/show/?m=J1K5EvdTUpG And Unit 3 - https://my.matterport.com/show/?m=rKXg1woqGSp OR Unit 2 - https://my.matterport.com/show/?m=2Mno8ogATyj for tour

FOR SALE DETAILS

PRICE

$3,500,000 USD

PRICE/SF

$771 USD /SF

# OF UNITS

4

PRICE/UNIT

$875,000

CAP RATE

2.52%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

4plex Ocean views, 3/2.5 Penthouse,

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1975

PARKING SPACES

4

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,850 SF

ZONING

R3

APN/PARCEL ID

001-099-005-000

ASK ABOUT THIS PROPERTY

Jeff DaviKW CommercialMore Info
831-594-3290

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

Jeff DaviKW CommercialMore Info
831-594-3290

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