1046 Balboa Avenue, Pacific Grove, California 93950, Pacific Grove, 93950 - 3 bed, 2 bath
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Pacific Grove, California 93950
This Coastal Redevelopment Asset represents a High-Potential Investment Opportunity listed at $1,875,000. While the asking price sits above the $1,695,167 Fair Market Value, the premium is driven by rare unobstructed water views and highly valuable water credits for 3.5 bathrooms. Located in the elite Beach Tract just one block from the ocean, this 1940s Fixer-Upper carries a Condition Rating of 5, offering massive forced appreciation potential through a complete rehabilitation. Near 9/10 rated schools, this is a strategic acquisition for Fix-and-Flip Investors or Contractors.
Property is extensive renovation needed.
Explicitly marketed as a 1940s fixer-upper requiring a contractor and substantial rehabilitation. The property likely has outdated electrical, plumbing, and heating systems, along with original or severely aged kitchen and bathroom fixtures that do not meet modern standards.
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
Situated in the highly coveted Beach Tract area, the property is just one block from the oceanfront walking trails and Ocean View Boulevard, offering an elite coastal lifestyle.
The home boasts rare, unobstructed water views from the kitchen and living room, providing a significant value-add and a premium aesthetic appeal.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1772, other record living area = 1707. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 4.
Explicitly marketed as a fixer-upper, the property requires a substantial additional investment in capital and labor to make it habitable or modern.
With a list price of $1.875M for a 1940s home in need of total rehabilitation, the initial acquisition cost is high before accounting for necessary construction expenses.
PACIFIC GROVE fixer-upper with amazing views located in the Beach Tract area, only 1 block to the walking trail/ocean view blvd. The views are unobstructed and can be seen from the kitchen and living room. 3 bedrooms, 2.5 bathrooms with approx 1772 square feet. Bring your vision for this one --and your contractor. Pacific Grove schools! LOCATION, LOCATION, LOCATION! Don't miss this one. There are enough water credits on the property for 3.5 bathrooms.
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades K-5 • 1.5 mi
Grades 6-8 • 1.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,772 | 1,346 | 79% |
| Lot Size | 5,000 | 4,697 | 58% |
| Price | $1.88M | $1.31M | 79% |
| Price per sq ft | $1.1K | $1.0K | 56% |
| Built year | 1940 | 1950 | 38% |
| HOA | $0 | $0 | 50% |
| Days on market | 39 | 154 | 4% |
Mar 14, 2026
$1,875,000
Initial Listing
Jul 21, 2021
$1,280,000
Public Record