33 Portola Avenue, Monterey, California 93940, Monterey, 93940 - 4 bed, 2 bath
Loading property details...
Monterey, California 93940
This 4-Bedroom Value-Add Residential Asset in the Monterey sunbelt is a significant renovation opportunity. Currently listed at $929,000, the property is positioned above the $770,597 Fair Market Value, requiring a strategic renovation to capture forced appreciation. With a Condition Rating of 5, the home needs a full rehab to address dated finishes and potential structural issues. However, the dual-street access, 768 sq ft partitioned garage, and private deck provide rare versatility near Monterey High School. This project is best suited for Fix-and-Flip Investors or Contractors targeting the high-demand coastal market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 33 Portola Avenue Subject | $875,000* List Price | 4 | 2 | 1,636 | $455 | - |
A 1270 6th Street Sold | $927,000 | 4 | 2 | 1,974 | $470 | 0.7 mi |
B 542 English Avenue Sold | $850,000 | 4 | 2 | 1,482 | $574 | 0.7 mi |
C 2 Portola Avenue Active | $895,000 List Price | 3 | 2 | 1,332 | $672 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property was built in 1940 with its last major expansion in the 1980s, making the systems and finishes over 40 years old. Interior images reveal significant wear including heavily stained carpeting, dated linoleum flooring, and an original 80s kitchen. A blue tarp visible over a bedroom skylight suggests active roof leaks or structural issues, and the bathroom shows signs of moisture damage, qualifying this as a full rehab project.
The property features two distinct living areas with separate entrances on a street-to-street lot, offering excellent potential for multi-generational living, guest quarters, or rental flexibility.
Situated in the desirable Monterey sunbelt near Del Monte Beach and Fisherman's Wharf, the home offers high lifestyle appeal and strong long-term location value.
A large 768 sq ft garage with partitioned areas and dual-street driveway access provides rare versatility for storage, workshops, or creative professional use.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
With an original 1940s build and 1980s expansion, the home requires significant cosmetic and functional updates to realize its full market potential.
The 4,000 sq ft lot is largely occupied by the building footprint and dual driveways, leaving minimal outdoor recreational space for a four-bedroom residence.
Is there a 4-bed single-family home in Monterey with flexible living space and dual access? 33 Portola Ave offers a unique opportunity on a 4,000 sq ft street-to-street lot in the Monterey sunbelt, featuring two distinct living areas with separate entrances, ideal for extended living, guests, or flexible use. This 1,636 sq ft home includes 4 bedrooms and 2 baths, originally built in 1940 and expanded in the 80s, with a layout designed for versatility. Soaring open beamed ceilings add volume and natural light, while the large 768 sq ft garage includes partitioned areas suited for storage, workspace, or creative uses. With driveway access from both Portola Ave and Helvic Ave, the property offers convenience and flexibility. The home is ready for your updates, creating a strong value-add opportunity in a sought-after location near Del Monte Beach, Fisherman's Warf, Downtown Monterey, and Starbucks. Bring your vision and explore the potential of this 4-bed home in Monterey.
No exterior & parking available.
Grades K-5 • 1.7 mi
Grades 6-8 • 2.6 mi
Grades 9-12 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 4.0 | 3.0 | 61% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,636 | 1,996 | 37% |
| Lot Size | 4,000 | 6,970 | 8% |
| Price | $875.0K | $1.19M | 14% |
| Price per sq ft | $535 | $660 | 15% |
| Built year | 1940 | 1963 | 19% |
| HOA | $0 | $0 | 50% |
| Days on market | 65 | 184 | 3% |
May 22, 2026
$875,000
$929,000
-6% Price Drop
Initial Listing
Apr 24, 2026
$929,000
$975,000
-5% Price Drop
Initial Listing
Apr 10, 2026
$975,000
Initial Listing