494 Grove Acre Avenue, Pacific Grove, California 93950, Pacific Grove, 93950 - 4 bed, 3 bath
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494 Grove Acre Avenue
Pacific Grove, California 93950
ACTIVE
CONDITION: GOOD
4Beds
3Baths
2,423Sq Ft
8,066Lot Size
Property Price
LIST PRICE$2,299,000
EST. MARKET VALUE
$2,077,753
10% AboveMARKET VALUE
SUMMARY
This Turnkey Coastal Retreat is a Strong Value Opportunity, listed at $2,399,990—positioned well above the $2,148,575 Fair Market Value by 11%. While priced above the current estimate, the property features a Condition Rating of 3, offering a move-in ready interior and a Detached Guest House for flexible living. Located near Top-Rated Schools like Robert Down Elementary and Pacific Grove High, this home provides a serene lifestyle with Park/Greenbelt Views. It is an ideal acquisition for Multi-Generational Families or Discerning Owner-Occupants seeking a premium Pacific Grove sanctuary.
Estimated Market Value
$2,077,753
Based on Realkey algorithm analyzing recent comparable sales in Pacific Grove.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 494 Grove Acre Avenue Subject 4 bd · 3 ba · 2,423 sqft · $858 | $2,299,000* List Price | 4 | 3 | 2,423 | $858 | - |
A 938 Lighthouse Avenue Active 4 bd · 3 ba · 3,000 sqft · $893 · 0.4 mi | $2,680,000 List Price | 4 | 3 | 3,000 | $893 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Good
TeardownExcellent
Property is move-in ready.
Originally built in 1928, the property has undergone significant renovations likely within the 5-15 year range. The kitchen features stone countertops and beadboard cabinetry, while the interior shows well-maintained hardwood flooring, skylights, and updated lighting. The home is in move-in ready condition with a functional detached guest house and professional landscaping.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
- Detached Guest House
The property features a separate guest home with its own entrance and full kitchen, offering exceptional flexibility for multi-generational living, long-term guests, or a private home office.
- Prime Coastal Location
Located just blocks from Asilomar Beach and near 17-Mile Drive, this home provides a serene retreat within walking distance of beach trails, downtown dining, and top-rated schools.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =8066, other record lot size in square feet = 7900. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2423, other record living area = 2568. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 3.
- Extended Days on Market
With 140 days on the market, the property may be perceived as stale by some buyers, potentially impacting its negotiating leverage despite recent price adjustments.
- Pricing Volatility
The history of multiple price reductions from the original $2.499M listing suggests the property is still struggling to align with current market expectations for the area.
About 494 Grove Acre Avenue
Pacific Grove coastal living with a detached guest cottage near Asilomar Beach! Enjoy space to live, host, work and recharge in a home set back from the street with inviting garden surroundings. Expansive windows welcome natural light and garden views, while thoughtfully updated interiors offer comfortable places to gather or unwind. The main home features a primary suite, living room, family room, media room and a kitchen with a walk-in pantry. A detached guest cottage with its own entrance, full kitchen and bathroom gives visitors a place to settle in while everyone enjoys their space. Imagine extended visits with loved ones, a workspace apart from the main house or a creative retreat. A two-car garage, mud room and generous upstairs storage add everyday convenience. Explore Asilomar's beach trails, visit downtown Pacific Grove dining and shops, or enjoy nearby Pebble Beach, 17-Mile Drive and renowned golf. Whether you envision a coastal retirement retreat or a home with flexibility for guests and hobbies, this property brings together comfort, character and connection to the Monterey Peninsula. Start your morning with garden views and make time for an afternoon along the coast. Discover the possibilities of a Pacific Grove home with a guest cottage. Schedule your private tour.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1928
- Lot Size
- 8,066 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 3 (3 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Pacific Grove Unified Schools
Forest Grove Elementary School
Grades K-5 • 0.8 mi
6/10
Robert Down Elementary School
Grades K-5 • 0.9 mi
9/10
Pacific Grove Middle School
Grades 6-8 • 0.8 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 2.6 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,423 | 1,342.844 |
| Lot Size | 8,066 | 4,470.75 |
| Price | $2.30M | $1.42M |
| Price per sq ft | $949 | $1.2K |
| Built year | 1928 | 1932 |
| HOA | $0 | $0 |
| Days on market | 157 | 62 |
Pricing History
Listed for Sale
Oct 13, 2026
$2,299,000
$2,399,990
-4% Price Drop
Initial Listing
Price Change
Oct 7, 2026
$2,399,990
$2,449,000
-2% Price Drop
Initial Listing
Price Change
Jul 20, 2026
$2,449,000
$2,499,000
-2% Price Drop
Initial Listing
Price Change
May 20, 2026
$2,499,000
Initial Listing
Sold
Nov 30, 2006
$1,399,000
Public Record
Sold
Sep 29, 2000
$520,000
Public Record