1251 Pacific Street, Monterey, California 93940, Monterey, 93940 - 3 bed, 2 bath
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Monterey, California 93940
This Versatile Single-Level Residence is a Prime Investment Opportunity, listed at $985,000—positioned well below the $1,014,658 Fair Market Value by 2%. This valuation gap offers $29,658 in Instant Equity for buyers. Featuring a Condition Rating of 4, the property includes a refreshed kitchen, a large 7,841 sq. ft. lot, and a private patio. The added value of a junior studio with bath and a separate workshop provides excellent rental or multi-generational flexibility near Fisherman's Wharf. It is a premier fit for Owner-Occupants seeking house-hacking potential or Buy-and-Hold Investors.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1251 Pacific Street Subject | $985,000* List Price | 3 | 2 | 1,538 | $660 | - |
A 1291 Pacific Street Sold | $980,000 | 4 | 2 | 1,768 | $554 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a well-maintained 1950s home that shows a mix of original character and partial updates. The kitchen has been refreshed with modern butcher block countertops, a farmhouse sink, and updated laminate flooring. However, the bathroom remains significantly dated with an older oak vanity and globe light fixtures. While the home features consistent modern flooring in the living areas and updated laundry appliances, the overall aesthetic, including louvered built-ins and vintage infrastructure, indicates the property has been maintained through occasional updates rather than a comprehensive recent renovation.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 7841, living area = 1538.
The property is ideally situated with exceptional proximity to downtown Monterey, Fisherman's Wharf, local beaches, and golf courses, offering a highly desirable coastal lifestyle.
The inclusion of a junior studio with a bathroom plus an additional outbuilding/workshop provides significant added value for guest accommodations, a home office, or creative projects.
Built in 1950, the property may require updates to its core systems and cosmetic finishes to align with modern energy efficiency and design standards.
Distributing three bedrooms across 1,538 square feet may result in smaller individual room sizes, which could feel restrictive for buyers seeking more expansive living areas.
This sweet, single-level 1,538 sq. ft. home offers three bedrooms and two baths. The kitchen is equipped with a gas oven range, refrigerator, and complemented by a garden window that brightens the space. The living room features a fireplace, providing a cozy gathering spot. Dining is accommodated in a designated dining area. Laundry facilities are conveniently located inside the utility room and include a washer and dryer. The property sits on a 7,841 sq. ft. lot and includes a junior studio with bath, an outbuilding and workshop for additional storage or projects. This residence is part of the Monterey Peninsula Unified elementary school district. The location is convenient to shopping, downtown Monterey and Fisherman's Wharf, the hospital ,beaches, golf and easy access to Highway 1.
No exterior & parking available.
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 | 1,538 | 1,982 | 34% |
| Lot Size | 7,841 | 6,800 | 59% |
| Price | $985.0K | $1.19M | 24% |
| Price per sq ft | $640 | $660 | 41% |
| Built year | 1950 | 1960 | 29% |
| HOA | $0 | $0 | 50% |
| Days on market | 15 | 173 | 2% |
Apr 7, 2026
$985,000
Initial Listing
Dec 17, 1998
$325,000
Public Record