114 Carmel Avenue, Pacific Grove, California 93950, Pacific Grove, 93950 - 0 bed, 0 bath
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Pacific Grove, California 93950
This Triplex Residential Income Asset is a High-Potential Investment Opportunity, listed at $2,195,000—positioned well below the $2,190,732 Fair Market Value by 0.2%. While the property carries a Condition Rating of 4, its prime coastal location near Robert Down Elementary and Pacific Grove High School offers immense long-term value. The flexible layout allows for immediate rental income or restoration into a grand single-family estate. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a historic property with panoramic bay views.
Property is moderate renovation needed.
Built in 1930, this historic property is well over the 20-year threshold for original systems and finishes. While the exterior appears maintained, the interior photos show dated fixtures and the listing description suggests a 'possibility of restoration,' indicating that the kitchen, baths, and likely the electrical/HVAC systems are aged and require modernization to meet current standards.
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
Situated steps from the Recreation Trail and Lovers Point, the property offers 'forever' ocean views of Monterey Bay, placing it in one of the most desirable coastal settings in the world.
Currently configured as a triplex with a large owner's unit, the property offers immediate rental income potential or the rare opportunity to be restored into a grand single-family estate.
With a lot size of only 2,700 square feet, the property offers minimal private outdoor living space and limited options for footprint expansion.
Built in 1930, the aging infrastructure of a multi-unit building may necessitate significant capital investment for system upgrades or a full-scale conversion to a single-family residence.
Forever Ocean Views across Monterey Bay. Currently there are 3 units, 1 offers a large 3 bedroom, 2 bath owners unit with spectacular views, plus 2 additional 1 bedroom units or the possibility of restoration to a lovely single family home. The Admiral Trilley home offers a rare opportunity to own a piece of the rich history of Pacific Grove. Literally steps to the Recreation Trail offering views of some of the most beautiful coastline in the world. Take a stroll to Lovers Point, the Monterey Bay Aquarium, fine and casual dining, weekly local Farmers Market and quaint shops where the owners will know you by name. All the benefits of PG history without the restraints of the Histor ical Registry . Truly a rare find.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 1.1 mi
Grades K-5 • 2.3 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,653 | - |
| Lot Size | 2,700 | - |
| Price | $2.19M | $1.39M |
| Price per sq ft | $827 | $571 |
| Built year | 1930 | 0 |
| HOA | $0 | $0 |
| Days on market | 34 | 181 |
Jun 18, 2026
$2,195,000
Initial Listing
Feb 14, 1997
$467,000
Public Record