410 Pine Avenue, Pacific Grove, California 93950, Pacific Grove, 93950 - 0 bed, 0 bath
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Pacific Grove, California 93950
This income-producing coastal triplex is a Strong Value Opportunity, listed at $2,399,000—positioned well below the $2,584,659 Fair Market Value by 7%. This valuation gap offers $185,659 in Instant Equity. The property maintains a Move-In Ready Condition Rating featuring recent upgrades like a Tesla Level 2 charger and panoramic Monterey Bay views. Located near top-rated schools like Robert Down Elementary, it generates $11,000 monthly revenue with a 5% cap rate. This is an elite asset for 1031 Exchange Buyers or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 410 Pine Avenue Subject | $2,399,000* List Price | 0 | 0 | 3,528 | $733 | - |
A 817 Congress Avenue Pending | $1,985,000 List Price | 0 | 0 | 2,480 | $800 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
While originally built in 1929, the property is move-in ready and has undergone extensive recent renovations. Updates include modern laminate flooring, recessed lighting, and updated appliances. Key systems have been modernized, including the sewer lateral, water heaters, and the addition of a Tesla Level 2 charger, indicating well-maintained infrastructure with minimal immediate maintenance required.
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
Generating approximately $11,000 per month with an estimated 5% cap rate, this triplex offers exceptional cash flow and income stability in a high-demand coastal rental market.
Situated just blocks from downtown Pacific Grove and minutes from Cannery Row, the property boasts a prime location near top-rated schools and major tourist attractions.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 3528, other record living area = 2681.
With three units occupying a 3,600-square-foot lot, the property offers limited outdoor space and potentially constrained parking options for multiple tenants.
Originally built in 1929, the property may require ongoing specialized maintenance and carries the inherent structural considerations typical of century-old coastal buildings.
Investor Special | Prime Location Near Downtown Pacific Grove One of the strongest rent rolls for a triplex on the Monterey Peninsula this rare multi-unit property is just blocks from downtown and presents an outstanding opportunity in one of the Monterey Peninsulas most desirable rental markets. With rental income near $11,000/month, it offers strong in-place cash flow with long-term upside. Featuring three separate units, each with private entrance, kitchen, bedrooms, bathroom, laundry, and separate metering ideal for flexible rental strategies and income stability. Interior access between levels adds additional versatility. Recent updates include improvements to the sewer lateral, appliances, flooring, lighting, water softner system, tesla level 2 charger, water heaters. Outdoor spaces with deck, lawn, and entertaining areas further enhance tenant appeal. Minutes from Cannery Row and Monterey Bay Aquarium. Estimated ~5 % cap rate (buyer to verify). Ideal for investors or 1031 exchange buyers seeking a well-located, income-producing coastal asset.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.9 mi
Grades K-5 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1929 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Mar 31, 2026
$2,399,000
Initial Listing
Mar 10, 2022
$1,830,000
Public Record
Dec 1, 2006
$1,160,000
Public Record