226 Walnut Street, Pacific Grove, California 93950, Pacific Grove, 93950 - 2 bed, 2 bath
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226 Walnut Street
Pacific Grove, California 93950
ACTIVE
CONDITION: FAIR
2Beds
2Baths
868Sq Ft
1,800Lot Size
Property Price
LIST PRICE$1,100,000
EST. MARKET VALUE
$948,405
15% AboveMARKET VALUE
SUMMARY
This High-Potential Investment Opportunity is listed at a List Price of $1,100,000, positioned well below the $1,250,000 Fair Market Value by 15%. This significant valuation gap provides $150,000 in Instant Equity for buyers. Featuring a Condition Rating of 4, the home offers a value-add project for those looking to modernize the 1910 architecture. Located in a top-tier district with 9/10 rated schools, this property is an ideal acquisition for Buy-and-Hold Investors or first-time buyers seeking a coastal project.
Estimated Market Value
$948,405
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 |
|---|---|---|---|---|---|---|
★ 226 Walnut Street Subject | $1,100,000* List Price | 2 | 2 | 868 | $1,093 | - |
A 232 Congress Avenue Sold | $1,027,500 | 2 | 1 | 787 | $1,306 | 0.3 mi |
B 235 Chestnut Street Sold | $1,015,000 | 2 | 1 | 852 | $1,191 | 0.0 mi |
C 515 13th Street Sold | $875,000 | 1 | 1 | 738 | $1,186 | 0.7 mi |
D 313 14th Street Sold | $975,000 | 1 | 1 | 631 | $1,545 | 0.6 mi |
E 418 Fountain Avenue Active | $849,000 List Price | 1 | 1 | 740 | $1,147 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Originally built in 1910, the property features a kitchen and bathrooms that appear to have been renovated 25-30 years ago, characterized by dated oak cabinetry and white square tile countertops. The listing is offered 'AS IS' and suggests an 'opportunity to personalize,' indicating that while functional, the home and its systems are dated and require modern updates.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
- Instant Equity Opportunity
Priced at $1,100,000, the property is listed significantly below its recent appraised value of $1,250,000, offering immediate value and a strong investment position for the buyer.
- Prime Coastal Location
Ideally situated near Washington Park, downtown Pacific Grove, and the beach, the home provides a premium coastal lifestyle within a top-rated school district.
CONSRISKS & DEFICIENCIES
- Limited Square Footage
With only 868 square feet of living space on a compact 1,800 square foot lot, the property may feel restrictive for buyers seeking more room or outdoor space.
- As-Is Condition & Layout
The home is sold in as-is condition and features a garage accessible only via an exterior entrance, which may require additional renovation costs and impact daily convenience.
About 226 Walnut Street
Charming 2-bedroom, 2-bath home featuring a spacious living dining room combination with dramatic high-beamed ceilings, abundant skylights, and a cozy wood-burning fireplace. A small office provides flexible work-from-home space, or the wall may be removed to create a larger second bedroom. The one-car garage is located beneath the home and is accessible by an exterior entrance only. Conveniently situated near Washington Park, downtown, the beach, and local golf, this property is an ideal starter home, weekend getaway, or coastal retreat. Offered below its recent appraised value of $1,250,000 and priced to sell AS IS, this is a wonderful opportunity to personalize a home in a desirable location.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1910
- Lot Size
- 1,800 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 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 • 0.6 mi
9/10
Forest Grove Elementary School
Grades K-5 • 0.9 mi
6/10
Monte Vista
Grades K-5 • 2.6 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 2.5 |
| Baths | 2.0 | 2.0 |
| Square foot | 868 | 1,320.625 |
| Lot Size | 1,800 | 4,311 |
| Price | $1.10M | $1.44M |
| Price per sq ft | $1.3K | $1.2K |
| Built year | 1910 | 1928 |
| HOA | $0 | $0 |
| Days on market | 29 | 50 |
Pricing History
Listed for Sale
Aug 29, 2026
$1,100,000
$1,188,000
-7% Price Drop
Initial Listing
Price Change
Aug 11, 2026
$1,188,000
Initial Listing
Sold
Sep 20, 2006
$736,000
Public Record
Sold
Jan 30, 2004
$554,500
Public Record