241 Lerwick Drive, Monterey, California 93940, Monterey, 93940 - 2 bed, 1 bath
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Monterey, California 93940
This Classic Monterey Value-Add Home is listed at $845,000, representing a stable investment in the desirable Casanova Oak Knoll neighborhood. Positioned near its $806,625 Fair Market Value, the property maintains a Condition Rating of 4 with well-preserved original hardwood floors. The primary draw is the oversized 6,068 sqft lot, offering a rare potential ADU or workshop opportunity for forced appreciation. Served by Foothill Elementary, Walter Colton, and Monterey High School, this property balances immediate charm with significant development upside. It is an ideal match for Owner-Occupants or first-time buyers.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 241 Lerwick Drive Subject | $845,000* List Price | 2 | 1 | 856 | $942 | - |
A 415 Hannon Avenue Sold | $980,000 | 2 | 2 | 1,038 | $944 | 0.4 mi |
B 217 Edinburgh Avenue Active | $925,000 List Price | 2 | 1 | 958 | $966 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1948, this home is well-maintained and move-in ready but remains largely dated. The kitchen and bathroom feature older tile work and fixtures likely exceeding 20-30 years in age. While the original hardwood floors are in good condition, the presence of a wall heater and older cabinetry indicates a need for modernization of systems and finishes.
The oversized 6,068 sqft lot offers a rare opportunity in Monterey to add a detached workshop or a full ADU, providing excellent long-term value and flexibility.
This 1948 home features original hardwood floors and abundant natural light, presenting a clean, move-in-ready interior that retains its charming historic appeal.
Situated in the desirable Casanova Oak Knoll neighborhood, the property benefits from a strong community reputation and a central Monterey location.
At just 856 square feet with only one bathroom, the compact living space may be a constraint for buyers seeking more room or modern master suites.
The assigned middle school, Walter Colton, has a lower rating of 3/10, which may be a concern for families prioritizing high-performing educational districts.
Classic Monterey home in the sought after Casanova Oak Knoll neighborhood. This charming 2 bed, 1 bath home is clean and bright, ready to move in and enjoy! A welcoming interior featuring original hardwood floors throughout and plenty of windows and natural light. Combine that with a large sunny lot, that is well landscaped with several mature fruit trees, and you have a terrific home and value that is hard to beat! Plus, the large backyard is a seemingly perfect opportunity to add a detached shed, workshop structure, or potential full ADU. This house and great location is everything you could want in a sweet Monterey home with an amazing lot and tons of upside potential!
No exterior & parking available.
Grades K-5 • 1.2 mi
Grades 6-8 • 3.2 mi
Grades 9-12 • 2.6 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 15% |
| Baths | 1.0 | 2.0 | 12% |
| Square foot | 856 | 1,982 | 3% |
| Lot Size | 6,068 | 6,250 | 47% |
| Price | $845.0K | $1.19M | 8% |
| Price per sq ft | $987 | $674 | 93% |
| Built year | 1948 | 1960 | 27% |
| HOA | $0 | $0 | 50% |
| Days on market | 47 | 173 | 7% |
Mar 6, 2026
$845,000
Initial Listing