
Carmel Valley, California 93924
This Multi-Unit Residential Asset represents a Strong Value Opportunity, listed at $1,549,000—positioned well below the $1,421,716 Fair Market Value by -8%. While the list price exceeds the current estimation, the property offers immediate stability through its fully occupied status and 3-unit configuration. Featuring a Condition Rating of 3 with modern mini-split HVAC and updated interiors, this property is a turnkey income generator. With over an acre of land and a private patio, it is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking long-term financial stability.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 273 W Carmel Valley Road Subject | $1,549,000* List Price | 4 | 4 | 2,240 | $635 | - |
A 195 Laurel Drive Sold | $1,650,000 | 4 | 4 | 2,675 | $617 | 0.6 mi |
B 5 Boronda Road Sold | $1,650,000 | 3 | 4 | 2,876 | $574 | 0.2 mi |
C 9 Story Road Active | $1,995,000 List Price | 2 | 3 | 2,560 | $779 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1938, the property shows evidence of significant renovations within the 5-15 year range. Interior photos reveal updated bathrooms with modern double vanities, recessed lighting, newer flooring, and the installation of modern mini-split HVAC systems. The units appear well-maintained, functional, and move-in ready for tenants.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 49223, living area = 2240.
The property features three fully occupied units generating market-rate rents, offering an immediate return on investment and long-term financial stability from day one.
Situated just one mile from Carmel Valley Village and near Garland Ranch Regional Park, residents enjoy easy access to world-class wine tasting, dining, and outdoor recreation.
Originally built in 1938, the property may require more frequent maintenance or capital improvements to its aging infrastructure and systems compared to modern builds.
As a multi-unit residential property with existing tenants, it requires active property management and carries the responsibilities associated with landlord-tenant regulations.
Located just one mile from Carmel Valley Village, this fully occupied, three unit property is the perfect investment opportunity for any investor or for anyone looking to live in one unit and generate significant income from the others. All of this is situated on over an acre of land. Unit A offers 2 bedrooms and 2 full bathrooms. Unit B features a fireplace within its one-bed, one-bath layout. Unit C offers a private patio off a huge primary suite. With tenants already in place paying current market rents, the property is poised to be generating income for you from day one. Wake up to bright sunshine and drive a minute down the road for fresh coffee from one of the local shops. Of course, the Village is famous for its wine scene. Savor a glass (or two) with friends at a tasting room, drinking in the simplicity so inherent to life here. Pass an afternoon with an invigorating hike at Garland Ranch Regional Park five minutes away. Whether you come to live in one unit and rent the others, or rent all three, you'll want to be the one holding the keys to a property that so easily promotes long-term financial stability while connecting every resident with the wholesome kind of joy that defines Carmel Valley. Financials are available upon request.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 3.0 |
| Baths | 4.0 | 3.0 |
| Square foot | 2,240 | 1,172 |
| Lot Size | 49,223 | 440,392 |
| Price | $1.55M | $1.86M |
| Price per sq ft | $692 | $852 |
| Built year | 1938 | 1984 |
| HOA | $0 | $2.8K |
| Days on market | 27 | 78 |
Jun 25, 2026
$1,549,000
Initial Listing
Jan 10, 2024
$900,000
Public Record
Dec 6, 2013
$600,000
Public Record