271 Foam Street, Monterey, California 93940, Monterey, 93940 - 3 bed, 2 bath
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271 Foam Street
Monterey, California 93940
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,116Sq Ft
5,520Lot Size
Property Price
LIST PRICE$1,250,000
EST. MARKET VALUE
$989,689
26% AboveMARKET VALUE
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $1,250,000—positioned above the $989,689 Fair Market Value. While the current Condition Rating of 5 necessitates a full rehab, the Unique Zoning for residential, commercial, or mixed-use redevelopment in Cannery Row offers significant upside. Proximity to San Carlos Beach and top-tier schools like Pacific Grove High (9/10) provides long-term stability. This asset is ideal for Commercial Developers or Value-Add Investors seeking to capitalize on a prime coastal location.
Estimated Market Value
$989,689
Based on Realkey algorithm analyzing recent comparable sales in Monterey.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 271 Foam Street Subject | $1,250,000* List Price | 3 | 2 | 1,116 | $887 | - |
A 662 Oak Street Sold | $885,000 | 3 | 1 | 1,125 | $787 | 0.5 mi |
B 1201 Hoffman Avenue Sold | $1,020,000 | 3 | 2 | 1,250 | $816 | 0.6 mi |
C 529 Wave Street Active | $1,050,000 List Price | 3 | 2 | 1,050 | $1,000 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1920, this property is over 100 years old and shows significant signs of age. The interior features dated carpeting, older wall-mounted heating systems, and a kitchen that appears to have last been updated 30+ years ago. The listing description explicitly highlights the property's potential for redevelopment and renovation, signaling that the current structure requires a full rehab or is being sold primarily for its land and zoning value.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Pacific Grove High School (9/10).
- Prime Coastal Location
Situated just one block from San Carlos Beach and the Monterey Bay Coastal Recreation Trail, the property offers unparalleled access to Monterey's most iconic waterfront attractions and high-traffic areas.
- Versatile Development Potential
The unique zoning allows for residential, commercial, mixed-use, or multifamily redevelopment, providing significant investment upside and flexibility for developers in the heart of Cannery Row.
CONSRISKS & DEFICIENCIES
- Significant Renovation Needs
Built in 1920 and marketed for its 'potential,' the existing 1,116-square-foot structure likely requires substantial capital investment to modernize or a complete redevelopment to realize its highest and best use.
- High Entry Price Point
At a list price of $1.25 million for a relatively small and aged residence, the cost per square foot is high, placing pressure on the budget for necessary improvements or new construction.
About 271 Foam Street
271 Foam Street presents an exceptional opportunity just one block from San Carlos Beach and the Monterey Bay Coastal Recreation Trail. Built in 1920, this three-bedroom, two-bath residence offers outstanding potential for renovation, redevelopment, or personalization of the home. The property's unique zoning provides opportunities for residential, commercial, mixed-use, or multifamily redevelopment in the heart of Cannery Row.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1920
- Lot Size
- 5,520 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Monterey Unified Schools
Monte Vista
Grades K-5 • 1.6 mi
5/10
Forest Grove Elementary School
Grades K-5 • 1.7 mi
6/10
Pacific Grove Middle School
Grades 6-8 • 1.3 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.5 |
| Square foot | 1,116 | 1,869.953 |
| Lot Size | 5,520 | 7,748.977 |
| Price | $1.25M | $1.35M |
| Price per sq ft | $1.1K | $729 |
| Built year | 1920 | 1962 |
| HOA | $0 | $431 |
| Days on market | 12 | 50 |
Pricing History
Listed for Sale
Aug 28, 2026
$1,250,000
Initial Listing