1043 5th Street, Monterey, California 93940, Monterey, 93940 - 0 bed, 0 bath
Loading property details...
Monterey, California 93940
This Professional Residential Income Quadruplex is an Asset listed at $2,300,000, currently positioned above its $2,029,847 Fair Market Value. Despite the premium, the property maintains a Condition Rating of 4 and features a private deck under professional management. Its strategic location near the Naval Postgraduate School and Monterey Peninsula College guarantees a high-quality tenant pool and strong ROI potential, with proximity to La Mesa Elementary and Monterey High. This stable acquisition is ideally suited for Buy-and-Hold Investors or Owner-Occupants targeting the resilient Monterey rental market.
Property is moderate renovation needed.
Built in 1964 (60 years old), the property exceeds the 20-year threshold for dated systems. While the exterior appears well-maintained with updated dual-pane windows, the age suggests that kitchens, baths, and core systems likely require modernization to meet current market standards.
The property is ideally situated near the Naval Post Graduate School and Monterey Peninsula College, ensuring a consistent and high-quality tenant pool of military professionals and students.
Managed by a professional team, the building is well-maintained, offering a turnkey solution for investors looking for a stable residential income asset without immediate deferred maintenance.
Located near El Estero Park and major educational institutions, this quadruplex is positioned in a high-demand area that supports low vacancy rates and strong rental growth potential.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =4792, other record lot size in square feet = 5000.
Built in 1964, the property may require future capital expenditures for modernizing major systems or aesthetic updates to maintain its competitive edge in the market.
The assigned middle school has a low rating of 3, which may deter families with children and limit the diversity of the potential long-term tenant base.
The building is well maintained by a professional manager. Situated at a great location, near the Naval Post Graduate School, MPC and easy access to El Estero Park. Very attractive investment property.
No exterior & parking available.
Grades K-5 • 1.0 mi
Grades 6-8 • 1.7 mi
Grades 9-12 • 1.1 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 3,727 | 2,795 | 75% |
| Lot Size | 4,792 | 6,366.5 | 25% |
| Price | $2.30M | $1.69M | 75% |
| Price per sq ft | $617 | $626 | 50% |
| Built year | 1964 | 1944 | 75% |
| HOA | $0 | $0 | 50% |
| Days on market | 36 | 86 | 25% |
May 1, 2026
$2,300,000
Initial Listing
Jul 31, 2019
$1,950,000
Public Record
May 10, 2019
$1,740,000
Public Record