387 Ocean Avenue, Monterey, California 93940, Monterey, 93940 - 0 bed, 0 bath
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Monterey, California 93940
This Residential Income Duplex is a unique market entry, listed at $1,945,000, which is positioned above the $1,703,381 Fair Market Value. While the property commands a premium, it offers a Condition Rating of 3 with significant interior renovations, including a modern kitchen and updated baths. The 1910 historic charm combined with a private deck provides strong appeal for tenants in the coastal Monterey market. Given the high entry point and potential infrastructure considerations, this property is best suited for Buy-and-Hold Investors or Owner-Occupants seeking a move-in ready, income-generating asset.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 387 Ocean Avenue Subject | $1,945,000* List Price | 0 | 0 | 2,300 | $741 | - |
A 1150 8th Street Sold | $1,650,000 | 0 | 0 | 2,244 | $735 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Despite the 1910 build date, the property has undergone significant interior renovations. The primary kitchen features modern white shaker cabinets, stainless steel appliances, and subway tile backsplashes (likely <10 years old). Bathrooms are updated with stone counters and vessel sinks. The presence of recessed lighting, crown molding, and updated flooring throughout indicates well-maintained systems and a move-in ready condition.
Situated on Ocean Avenue in Monterey, this property offers exceptional proximity to the coastline and local attractions, ensuring high tenant demand and long-term appreciation.
As a duplex, this residential income property provides versatile options for investors or owner-occupants seeking to generate rental revenue in a high-demand market.
Built in 1910, the property possesses unique vintage character and charm that distinguishes it from modern developments and appeals to a specific niche of buyers.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2300, other record living area = 900.
The 1910 construction date suggests potential requirements for costly updates to aging infrastructure, including electrical, plumbing, and foundation systems.
With a list price of nearly $2M for a 2,300 sqft duplex on a modest 4,000 sqft lot, the property represents a high entry point that may challenge some investment yield expectations.
Exceptional opportunity in Monterey. This spacious residence offers a versatile layout ideal for modern living. Situated on a quiet street in a highly desirable area.
No exterior & parking available.
Grades K-5 • 1.1 mi
Grades 6-8 • 1.9 mi
Grades 9-12 • 1.2 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,300 | 3,436 |
| Lot Size | 4,000 | 5,000 |
| Price | $1.95M | $1.59M |
| Price per sq ft | $846 | $587 |
| Built year | 1910 | 1969 |
| HOA | $0 | $0 |
| Days on market | 36 | 98 |
Jun 16, 2026
$1,945,000
Initial Listing