218 4th Street, Pacific Grove, California 93950, Pacific Grove, 93950 - 4 bed, 3 bath
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Pacific Grove, California 93950
This Historic Coastal Residence represents a Strong Value Opportunity, listed at $1,899,999—positioned above the $1,752,732 Fair Market Value. While priced at a premium, the property offers significant versatility with a Garage-to-ADU Conversion, providing immediate rental income potential. Featuring a Condition Rating of 3, the home blends 1912 character with modern updates. Located in the Pacific Grove Unified School District with access to 9/10 rated schools, this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a unique, income-generating coastal lifestyle.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 218 4th Street Subject | $1,899,999* List Price | 4 | 3 | 1,403 | $1,249 | - |
A 311 Walnut Street Sold | $1,500,000 | 3 | 2 | 1,481 | $1,013 | 0.9 mi |
B 791 Spruce Avenue Sold | $1,636,750 | 4 | 2 | 1,679 | $975 | 0.8 mi |
C 801 Laurel Avenue Sold | $1,361,000 | 2 | 2 | 1,303 | $1,045 | 0.8 mi |
D 302 Park Street Sold | $1,950,000 | 4 | 3 | 1,835 | $1,063 | 0.6 mi |
E 508 4th Street Sold | $1,630,000 | 2 | 2 | 1,209 | $1,348 | 0.2 mi |
F 421 Eardley Avenue Sold | $1,825,000 | 2 | 2 | 1,749 | $1,043 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1912, this historic home is exceptionally well-maintained and move-in ready. The kitchen features a recent renovation (likely <10 years) with modern retro-style appliances and shaker cabinetry. Bathrooms are updated with classic subway tile and beadboard wainscoting. The garage-to-ADU conversion suggests recent updates to electrical and plumbing systems, though the property retains its century-old architectural character.
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
The property includes a thoughtfully converted garage ADU and a flexible floor plan, providing excellent opportunities for rental income, multi-generational living, or private guest accommodations.
Listed on the historic registry, this 1912 home features preserved architectural details like stained-glass windows and high ceilings, paired with desirable views of the ocean, bay, and hills.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
With four bedrooms and three bathrooms distributed across only 1,403 square feet, the interior living spaces and individual room sizes may feel significantly cramped.
Being on the historic registry may subject the owner to strict local guidelines and permit restrictions, potentially limiting the ability to perform modern exterior renovations or structural expansions.
Located in beautiful Pacific Grove, this captivating home blends timeless character with versatile living options. Listed on the historic registry, the home is rich in architectural charm, showcasing stunning stained-glass windows, hardwood floors, high ceilings, abundant natural light, and a cozy fireplace that creates a warm and inviting atmosphere. Ocean views enhance the home's coastal appeal, while the flexible floor plan makes it ideal for rental income, multi-generational living, or extended guest accommodations. The garage has been thoughtfully converted to include an ADU, offering additional privacy and functionality. Situated within the highly regarded Pacific Grove Unified School District and moments from the area's renowned coastline, Pebble Beach golf courses, Carmel, shops, cafes, and dining, this property offers an exceptional opportunity to own a piece of local history. A rare find that truly embodies the charm and lifestyle of Pacific Grove living. Live in one, rent the other, so many choices!
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 1.2 mi
Grades K-5 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 88% |
| Baths | 3.0 | 2.0 | 84% |
| Square foot | 1,403 | 1,365 | 55% |
| Lot Size | 4,500 | 4,500 | 50% |
| Price | $1.90M | $1.45M | 78% |
| Price per sq ft | $1.4K | $1.0K | 80% |
| Built year | 1912 | 1950 | 14% |
| HOA | $0 | $0 | 50% |
| Days on market | 22 | 144 | 2% |
May 23, 2026
$1,899,999
Initial Listing
Aug 9, 2023
$1,600,000
Public Record
Nov 27, 2019
$1,399,000
Public Record
Aug 3, 2016
$1,387,000
Public Record
Jan 19, 1996
$250,000
Public Record