33 Portola Avenue, Monterey, California 93940, Monterey, 93940 - 4 bed, 2 bath
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Monterey, California 93940
This Value-Add Residential Asset is listed at $975,000, offering a strategic opportunity in the Monterey sunbelt. With a Condition Rating of 5, the property requires substantial rehabilitation to reach its potential, currently holding a $771,907 Fair Market Value. The versatile 1,636 sqft layout includes dual street access, a 768 sqft partitioned garage, and a private deck, providing significant utility for multi-generational living. Located near Foothill Elementary and Monterey High School, the property offers strong rental demand potential. This project is an ideal acquisition for Fix-and-Flip Investors or Contractors looking to capture forced appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 33 Portola Avenue Subject | $975,000* List Price | 4 | 2 | 1,636 | $472 | - |
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 |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
The property exhibits significant deferred maintenance and is in need of substantial rehabilitation. Key indicators include a blue tarp over a bedroom skylight suggesting a roof leak, heavily stained and worn carpeting throughout, and a kitchen and bathroom that appear to be from the 1980s expansion with outdated cabinetry and fixtures. The listing description explicitly identifies the home as a 'value-add opportunity' with 'aged infrastructure' requiring modern updates to reach its potential.
The property features two distinct living areas with separate entrances and dual street access, making it ideal for multi-generational families, guests, or a home office setup.
Situated in the desirable Monterey sunbelt, the home offers close proximity to Del Monte Beach, Fisherman's Wharf, and downtown amenities.
The oversized 768 sq ft garage includes partitioned areas, providing exceptional space for storage, a workshop, or creative studio use.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 2.
The home is positioned as a value-add opportunity and requires modern updates and renovations to reach its full potential.
Originally built in 1940 with an 80s expansion, the property may require inspections and potential upgrades to older mechanical or structural systems.
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 | 54% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,636 | 1,982 | 37% |
| Lot Size | 4,000 | 6,250 | 12% |
| Price | $975.0K | $1.19M | 20% |
| Price per sq ft | $596 | $660 | 31% |
| Built year | 1940 | 1960 | 22% |
| HOA | $0 | $0 | 50% |
| Days on market | 12 | 173 | 2% |
Apr 10, 2026
$975,000
Initial Listing