
Monterey, California 93940
This Single-Family Residence presents a High-Potential Investment Opportunity with a List Price of $1,850,000—positioned above the $1,731,706 Fair Market Value. While the property requires modernization, its Condition Rating of 4 and expansive 0.467-acre corner lot provide a rare foundation for value enhancement. The functional single-level layout and prime coastal location offer significant long-term upside for those willing to execute a renovation plan. This property is an ideal acquisition for Value-Add Investors or Owner-Occupants seeking to customize a premier Monterey estate.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 249 Mar Vista Dr Subject | $1,785,000* List Price | 4 | 3 | 2,127 | $806 | - |
A 425 Via Del Rey Active | $1,799,000 List Price | 3 | 4 | 2,413 | $746 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1960, the property is well-maintained but dated. While it features some updates like newer flooring and stainless steel appliances, the kitchen and bathrooms retain older tile countertops and cabinetry likely exceeding 20 years in age. The listing description explicitly notes the 'opportunity for customization,' indicating it is ready for modernization.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 20037, living area = 2127.
The property sits on a rare 0.467-acre corner lot, providing exceptional privacy, mature landscaping, and significant space for outdoor entertaining or potential expansion.
The 2,127 square foot single-story floor plan offers a functional and accessible living space that is highly sought after for long-term residency and multigenerational needs.
Built in 1960 and marketed as an 'opportunity for customization,' the home likely requires significant updates to its interior finishes and systems to meet modern luxury standards.
At a list price of $1.85M, the property commands a high price point for a residence that may require additional capital investment for renovations and value enhancement.
249 Mar Vista Drive | Monterey, CA 93940 Perched in one of Monterey’s most established and desirable coastal neighborhoods, 249 Mar Vista Drive offers space, privacy, and extraordinary potential on an expansive nearly half-acre corner lot. This single-level residence blends classic Monterey character with the opportunity to create a truly remarkable forever home along the Central Coast. Featuring 4 bedrooms, 2.5 bathrooms, and approximately 2,127 square feet of living space, the home rests on an oversized 0.467-acre parcel with multiple outdoor areas that invite peaceful living, entertaining, gardening, and creative landscape design. Inside, the home offers a functional single-level floor plan filled with natural light and timeless warmth. The spacious layout provides flexibility for multigenerational living, entertaining, work-from-home needs, or future customization. Mature trees and fenced yard areas create a sense of retreat while still remaining close to all that Monterey has to offer. Located just minutes from downtown Monterey, Cannery Row, Pacific Grove, Carmel, shopping, dining, beaches, and Highway 1 access, this property combines convenience with the quiet beauty of coastal residential living. Property Features 4 Bedrooms 2.5 Bathrooms Approx. 2,127 Sq Ft Approx. 0.467 Acre Corner Lot Single-Level Layout Multiple Yard Spaces and Outdoor Living Areas Established Monterey Neighborhood Exceptional Opportunity for Customization and Value Enhancement Close to Beaches, Schools, Dining, and Coastal Recreation Built in 1960, the home reflects the enduring craftsmanship and generous lot sizes that make Monterey’s older neighborhoods so sought after today. This is a rare chance to own a substantial property in a premier Monterey location where the ocean breeze, towering trees, and timeless California coastal lifestyle come together beautifully.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 62% |
| Baths | 3.0 | 2.0 | 52% |
| Square foot | 2,127 | 2,004 | 55% |
| Lot Size | 20,037 | 7,169 | 80% |
| Price | $1.78M | $1.19M | 70% |
| Price per sq ft | $839 | $664 | 77% |
| Built year | 1960 | 1964 | 47% |
| HOA | $0 | $0 | 50% |
| Days on market | 17 | 183 | 2% |
Jun 6, 2026
$1,785,000
$1,850,000
-4% Price Drop
Initial Listing
May 29, 2026
$1,850,000
Initial Listing
Mar 8, 2023
$1,386,000
Public Record
Feb 19, 2020
$800,000
Public Record
Aug 6, 2013
$621,807
Public Record
Feb 12, 1998
$415,000
Public Record