399 Hoffman Avenue, Monterey, California 93940, Monterey, 93940 - 2 bed, 2 bath
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399 Hoffman Avenue
Monterey, California 93940
ACTIVE UNDER CONTRACT
CONDITION: FAIR
2Beds
2Baths
792Sq Ft
3,000Lot Size
Property Price
LIST PRICE$948,500
EST. MARKET VALUE
$929,318
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $948,500—positioned well above the $929,319 Fair Market Value by -2%. While the home requires modernization, its Fair Condition Rating and versatile lower-level bonus rooms offer significant value-add potential. Located near Pacific Grove High School (9/10), this asset provides a rare entry point into a premier coastal neighborhood. With its partial Bay view and proximity to Cannery Row, this is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to build equity through renovation.
Estimated Market Value
$929,318
Based on Realkey algorithm analyzing recent comparable sales in Monterey.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 399 Hoffman Avenue Subject | $948,500* List Price | 2 | 2 | 792 | $1,173 | - |
A 1201 David Avenue Sold | $840,000 | 2 | 1 | 883 | $951 | 0.5 mi |
B 515 Dickman Avenue Sold | $940,000 | 2 | 1 | 619 | $1,519 | 0.3 mi |
C 1099 David Avenue Sold | $813,500 | 2 | 1 | 636 | $1,279 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1974, this 50-year-old home is functional but dated. While it features some updates like bamboo flooring and a newer forced-air furnace, the kitchen and bathrooms are over 20 years old with dated oak cabinetry, white appliances, and basic fixtures. The listing explicitly notes the opportunity to update and personalize, fitting the criteria for a property needing minor repairs and modernization.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Pacific Grove High School (9/10).
- Prime Coastal Location
Situated just blocks from Monterey Bay, Cannery Row, and the Recreation Trail, this property offers an exceptional lifestyle in one of the Peninsula's most desirable and walkable neighborhoods.
- Versatile Bonus Space
The lower level includes a half bath and multiple bonus rooms, providing significant flexibility for a home office, fitness studio, or guest quarters that maximizes the property's functional footprint.
CONSRISKS & DEFICIENCIES
- Limited Primary Living Area
At just 792 square feet, the main living space is relatively small, which may be a constraint for families or buyers accustomed to more expansive residential layouts.
- Required Capital Investment
The property is marketed as an opportunity to update and personalize, and with over 100 days on the market, it suggests that buyers may need to budget for immediate renovations to modernize the home.
About 399 Hoffman Avenue
Just blocks from Monterey Bay, 399 Hoffman Avenue offers the opportunity to own a classic New Monterey cottage in one of the Peninsula's most sought-after neighborhoods. Enjoy easy access to the Recreation Trail, Cannery Row, the Monterey Bay Aquarium, beaches, waterfront dining, boutique shopping, and all the attractions that define Monterey's coastal lifestyle. Filled with natural light, this charming 2-bedroom, 1-bath home features bamboo flooring, a dedicated laundry room, and a newer forced-air furnace. The versatile lower level includes a half bath and multiple bonus rooms ideal for a home office, fitness room, art studio, guest space, workshop, or additional storage. An attached single-car garage adds everyday convenience. Rich in character and ready for its next chapter, this home offers the opportunity to update and personalize while building equity in an exceptional location. Whether you're looking for a primary residence, weekend retreat, or long-term investment, 399 Hoffman Avenue combines charm, flexibility, and an unbeatable New Monterey location.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1974
- Lot Size
- 3,000 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Monterey Unified Schools
Forest Grove Elementary School
Grades K-5 • 1.5 mi
6/10
Monte Vista
Grades K-5 • 1.7 mi
5/10
Pacific Grove Middle School
Grades 6-8 • 1.0 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.5 |
| Square foot | 792 | 1,869.953 |
| Lot Size | 3,000 | 7,748.977 |
| Price | $948.5K | $1.35M |
| Price per sq ft | $1.2K | $729 |
| Built year | 1974 | 1962 |
| HOA | $0 | $431 |
| Days on market | 71 | 50 |
Pricing History
Listed for Sale
Jul 15, 2026
$948,500
$975,000
-3% Price Drop
Initial Listing
Price Change
Jun 30, 2026
$975,000
Initial Listing
Sold
Nov 1, 1994
$85,000
Public Record