383 Clay Street, Monterey, California 93940, Monterey, 93940 - 2 bed, 1 bath
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383 Clay Street
Monterey, California 93940
ACTIVE
CONDITION: TEAR DOWN
2Beds
1Baths
598Sq Ft
2,400Lot Size
Property Price
LIST PRICE$615,000
SUMMARY
Originally purchased by the current owners family in the 1930s, 383 Clay Street--a century old fishermans cottage--is on the market. Located in a quiet Monterey neighborhood close to schools and the Defense Language Institute, its within walking distance to downtown. While being HUD approved rental property that was occupied by the last tenant for over forty years, the house is definitely a fixer-upper. A new roof was installed in 2019, new stairs were recently installed on the back deck and the carpets have been replaced. 383 Clay St. is a property with potential.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Tear down
TeardownExcellent
Property is land value only, full reconstruction required.
Built in 1914, the structure has no foundation, sits directly on the ground, and suffers from extensive termite, dry rot, and fungus damage. The listing explicitly states the structure has no value, is unloanable, and should be torn down, selling for land value only.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Coastal Location
Situated in the highly desirable Monterey area, the property offers excellent proximity to Monterey High School and the central amenities of the Monterey Peninsula.
- Established Water Rights
The property includes valuable water rights, which are a critical and often difficult-to-obtain requirement for any new construction or development in this region.
- Recent Roof Upgrade
While the overall structure is in poor condition, the roof is the only major system in good shape, providing immediate protection for the site during the planning phase.
CONSRISKS & DEFICIENCIES
- Severe Structural Damage
The existing structure is uninhabitable with no foundation and extensive termite, dry rot, and fungus damage, necessitating a complete teardown.
- Development and Financing Constraints
The substandard lot size limits new construction to approximately 700 square feet, and the property's condition makes it ineligible for traditional financing.
About 383 Clay Street
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1912
- Lot Size
- 2,400 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 1 (1 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 • 0.9 mi
5/10
Walter Colton
Grades 6-8 • 0.9 mi
3/10
Monterey High School
Grades 9-12 • 0.4 mi
6/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 1.0 | 2.4 |
| Square foot | 598 | 1,795.679 |
| Lot Size | 2,400 | 8,154.071 |
| Price | $615.0K | $1.25M |
| Price per sq ft | $1.0K | $732 |
| Built year | 1912 | 1961 |
| HOA | $0 | $461 |
| Days on market | 29 | 61 |
Pricing History
Listed for Sale
Sep 25, 2026
$615,000
Initial Listing