218 4th Street, Pacific Grove, California 93950, Pacific Grove, 93950 - 4 bed, 3 bath
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218 4th Street
Pacific Grove, California 93950
ACTIVE
CONDITION: GOOD
4Beds
3Baths
1,403Sq Ft
4,500Lot Size
Property Price
LIST PRICE$1,750,000
EST. MARKET VALUE
$1,706,742
SUMMARY
This Versatile Coastal Property represents a High-Potential Investment Opportunity, listed at $1,750,000—positioned above the $1,706,742 Fair Market Value by -2%. Featuring a Condition Rating of 3, the home offers a turnkey main residence paired with a detached ADU, perfect for rental income or multi-generational living. With Ocean Views and proximity to Top-Rated Schools like Robert Down Elementary and Pacific Grove High, this asset balances lifestyle appeal with income potential. It is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal compound.
Estimated Market Value
$1,706,742
Based on Realkey algorithm analyzing recent comparable sales in Pacific Grove.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 218 4th Street Subject | $1,750,000* List Price | 4 | 3 | 1,403 | $1,216 | - |
A 219 Willow Street Sold | $1,550,000 | 4 | 3 | 1,480 | $1,047 | 0.8 mi |
B 607 Congress Avenue Sold | $2,050,000 | 2 | 2 | 1,534 | $1,336 | 0.7 mi |
C 229 7th Street Sold | $1,250,000 | 3 | 2 | 1,047 | $1,194 | 0.1 mi |
D 665 Hillcrest Avenue Sold | $1,325,000 | 3 | 2 | 1,326 | $999 | 0.8 mi |
E 360 Central Avenue Sold | $1,250,000 | 2 | 1 | 959 | $1,303 | 0.2 mi |
F 791 Spruce Avenue Sold | $1,636,750 | 4 | 2 | 1,679 | $975 | 0.8 mi |
G 315 Willow Street Sold | $1,440,000 | 2 | 1 | 1,002 | $1,437 | 0.8 mi |
H 608 Congress Active Under Contract | $1,795,000 List Price | 3 | 2 | 1,737 | $1,033 | 0.7 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Although built in 1912, the property has undergone significant renovations. The kitchen features modern shaker cabinetry and high-end retro-style appliances, appearing to be a recent update (<10 years). Bathrooms are well-maintained with updated tiling and fixtures. The presence of floor vents suggests updated HVAC, and the overall interior (hardwood floors, paint, and detached ADU) is in move-in ready condition.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
- Income Potential & Versatility
The inclusion of a completely detached ADU provides exceptional versatility for rental income, multi-generational living, or a private home office in a high-demand area.
- Prime Coastal Location
Situated just moments from Lover's Point and downtown Pacific Grove, the property offers desirable ocean views and immediate access to the Recreation Trail and world-class golf.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Extended Days on Market
With 99 days on the market and a recent price reduction, the property may be experiencing pricing resistance or buyer hesitation despite its coastal location.
- Compact Living Space
The total square footage of 1,403 for a four-bedroom configuration across two units suggests relatively small room sizes and potentially cramped living quarters.
About 218 4th Street
PRICE IMPROVEMENT - BRING OFFERS! Ocean Views & Income Potential Near Lover's Point Now offered at an exceptional new price, this rare Pacific Grove property combines timeless coastal charm, ocean views, and outstanding versatility in one of the Peninsula's most desirable locations. The main home features 3 bdrms/2 bath with stained-glass windows, hardwood floors, soaring ceilings, and abundant natural light. Large windows frame beautiful Pacific Ocean views, creating a warm and inviting coastal retreat. Adding tremendous value is a completely detached ADU, ideal for rental income, guests, multi-generational living, or a private home office. Opportunities offering a detached second unit, ocean views, and a premier Pacific Grove location are increasingly rare. Live in one and rent the other, lease both, or create the ultimate coastal compound. Just moments from Lover's Point, downtown restaurants and shops, the Recreation Trail, Pebble Beach, Carmel, and world-class golf. Recently reduced and priced to sell, this may be one of Pacific Grove's best values. Don't miss your chance to make it yours!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1912
- Lot Size
- 4,500 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Pacific Grove Unified Schools
Robert Down Elementary School
Grades K-5 • 0.3 mi
9/10
Forest Grove Elementary School
Grades K-5 • 1.2 mi
6/10
Monte Vista
Grades K-5 • 2.0 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 2.5 |
| Baths | 3.0 | 2.0 |
| Square foot | 1,403 | 1,320.625 |
| Lot Size | 4,500 | 4,311 |
| Price | $1.75M | $1.44M |
| Price per sq ft | $1.2K | $1.2K |
| Built year | 1912 | 1928 |
| HOA | $0 | $0 |
| Days on market | 109 | 50 |
Pricing History
Listed for Sale
Aug 28, 2026
$1,750,000
$1,899,999
-8% Price Drop
Initial Listing
Price Change
May 23, 2026
$1,899,999
Initial Listing
Sold
Aug 9, 2023
$1,600,000
Public Record
Sold
Nov 27, 2019
$1,399,000
Public Record
Sold
Aug 3, 2016
$1,387,000
Public Record
Sold
Jan 19, 1996
$250,000
Public Record