, Pacific Grove, California 93950, Pacific Grove, 93950 - 2 bed, 2 bath
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Pacific Grove, California 93950
This 1948 Pacific Grove Duplex is a strategic Value-Add Asset listed at $1,018,000, reflecting a stable entry point near its $967,641 Fair Market Value. Comprising two 1-bedroom units with Original Hardwood Floors and Detached Garages, the property carries a Condition Rating of 5, indicating a prime opportunity for forced appreciation through modernization. Situated blocks from the coast and near Top-Rated Schools, the dual-income configuration ensures high rental demand in a premium market. This project is ideal for Buy-and-Hold Investors or Contractors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ Subject | $1,018,000* List Price | 2 | 2 | 1,159 | $835 | - |
A 213 15th Street Sold | $1,230,000 | 3 | 2 | 1,300 | $946 | 0.1 mi |
B 228 Wood Street Sold | $1,200,000 | 3 | 2 | 1,392 | $862 | 0.3 mi |
C 851 Laurel Avenue Active | $1,275,000 List Price | 3 | 1 | 1,144 | $1,115 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1948, this duplex retains its original kitchen and bathrooms, which are over 70 years old and well beyond their expected functional lifespan. While the property is described as 'charming' and functional, the lack of any major renovations since construction necessitates substantial rehabilitation and modernization to meet current safety and quality standards.
Situated just blocks from the beach, local dining, and top-rated schools, this property offers an exceptional lifestyle in a highly sought-after Pacific Grove neighborhood.
As a duplex featuring two separate units with individual garages and laundry hook-ups, it presents a versatile opportunity for consistent rental income or a multi-generational living arrangement.
The property retains its 1948 character with original hardwood floors and a spacious layout, providing a charming aesthetic and a solid foundation for a value-add restoration.
The presence of original kitchens and bathrooms suggests the property may require significant modernization and capital investment to meet contemporary buyer expectations and maximize market value.
The 1-bedroom, 1-bathroom layout for each unit may restrict the potential tenant pool and limit the property's appeal to larger families or those requiring more living space.
This charming Pacific Grove duplex is within blocks of the beach, restaurants, shops and top rated schools. With great income potential, these 1 bed and 1 bath units feature a spacious layout with original kitchen, bathroom, and hardwood floors. Each unit has it's own laundry hook-ups, a detached garage, and an additional off street parking space. There is a large shared back yard with plenty of room to garden, or sit and enjoy the sunshine.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 35% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,159 | 1,340 | 29% |
| Lot Size | 3,600 | 4,500 | 37% |
| Price | $1.02M | $1.30M | 22% |
| Price per sq ft | $878 | $1.0K | 24% |
| Built year | 1948 | 1949 | 45% |
| HOA | $0 | $0 | 50% |
| Days on market | 1414 | 156 | 0% |
Jun 8, 2022
$1,018,000
Initial Listing