514 7th Street, Pacific Grove, California 93950, Pacific Grove, 93950 - 4 bed, 2 bath
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514 7th Street
Pacific Grove, California 93950
ACTIVE
CONDITION: FAIR
4Beds
2Baths
1,842Sq Ft
4,800Lot Size
Property Price
LIST PRICE$1,450,000
EST. MARKET VALUE
$1,507,690
3% BelowMARKET VALUE
SUMMARY
This Pacific Grove Duplex presents a High-Potential Investment Opportunity with a List Price of $1,450,000—positioned well below the $1,507,691 Fair Market Value by 3%. This valuation gap offers $57,691 in Instant Equity. Featuring a Condition Rating of 4, the property offers immediate rental income potential alongside opportunities for cosmetic modernization. Located near Top-Rated Schools like Robert Down Elementary and Pacific Grove High, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a coastal lifestyle.
Estimated Market Value
$1,507,690+$57,690 Equity Potential
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 |
|---|---|---|---|---|---|---|
★ 514 7th Street Subject 4 bd · 2 ba · 1,842 sqft · $819 | $1,450,000* List Price | 4 | 2 | 1,842 | $819 | - |
A 512 12th Street Sold 3 bd · 3 ba · 1,950 sqft · $831 · 0.2 mi | $1,620,000 | 3 | 3 | 1,950 | $831 | 0.2 mi |
B 515 Fountain Avenue Sold 4 bd · 3 ba · 2,219 sqft · $703 · 0.3 mi | $1,560,000 | 4 | 3 | 2,219 | $703 | 0.3 mi |
C 851 Laurel Avenue Sold 3 bd · 1 ba · 1,144 sqft · $979 · 0.8 mi | $1,120,000 | 3 | 1 | 1,144 | $979 | 0.8 mi |
D 195 Cedar Street Sold 3 bd · 2 ba · 1,229 sqft · $976 · 0.8 mi | $1,200,000 | 3 | 2 | 1,229 | $976 | 0.8 mi |
E 665 Hillcrest Avenue Sold 3 bd · 2 ba · 1,326 sqft · $999 · 0.6 mi | $1,325,000 | 3 | 2 | 1,326 | $999 | 0.6 mi |
F 902904 19th Street Active 4 bd · 2 ba · 1,928 sqft · $726 · 0.5 mi | $1,399,000 List Price | 4 | 2 | 1,928 | $726 | 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 1961, the property is well-maintained and livable but features dated interiors. The kitchen has older appliances, tile countertops, and painted cabinets, while the bathrooms and flooring reflect older renovations (>20 years) that would benefit from modern updates.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
- Investment Versatility
The duplex configuration offers immediate rental income from one unit while providing the flexibility for an owner-occupant or market-rate leasing in the vacant unit.
- Prime Coastal Location
Ideally situated near downtown Pacific Grove, Lover's Point, and coastal trails, this location ensures high demand and a premium lifestyle for residents.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1961, the property may necessitate updates to major systems or cosmetic renovations to meet modern aesthetic and efficiency standards.
- Limited Bathroom Ratio
Each two-bedroom unit features only a single bathroom, which may limit appeal for certain tenant profiles or families seeking more modern conveniences.
About 514 7th Street
Rare Pacific Grove Duplex Opportunity! Ideally located just moments from vibrant downtown Pacific Grove, neighborhood cafes, coastal trails, and Lover's Point, this well-maintained duplex offers an exceptional opportunity for both investors and owner-occupants. Each unit features approximately mirrored floor plans with 2 bedrooms, 1 bathroom, a private 1-car garage, and washer/dryer hookups. One unit is currently occupied, providing immediate income, while the second unit is vacant and ready for occupancy or market-rate rental potential. The bright and inviting interiors offer vaulted ceilings, spacious living areas, and abundant natural light. Each residence enjoys its own private, sunny patio - great for outdoor dining, gardening, or relaxing in Pacific Grove's ideal coastal climate. Conveniently located near Robert Down Elementary School, neighborhood parks, shopping, dining, and the scenic Monterey Bay Coastal Trail. Whether you're looking to expand your investment portfolio, live in one unit while generating rental income from the other, or secure a desirable property in one of the Monterey Peninsula's most sought-after communities, this duplex presents a compelling opportunity.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1961
- Lot Size
- 4,800 Sq. Ft.
Interior
- Total Bedrooms
- 4
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Pacific Grove Unified Schools
Robert Down Elementary School
Grades K-5 • 0.3 mi
9/10
Forest Grove Elementary School
Grades K-5 • 0.9 mi
6/10
Monte Vista
Grades K-5 • 1.8 mi
5/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 2.6 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,842 | 1,342.844 |
| Lot Size | 4,800 | 4,470.75 |
| Price | $1.45M | $1.42M |
| Price per sq ft | $787 | $1.2K |
| Built year | 1961 | 1932 |
| HOA | $0 | $0 |
| Days on market | 66 | 62 |
Pricing History
Listed for Sale
Aug 19, 2026
$1,450,000
Initial Listing
Sold
May 24, 2023
$1,493,500
Public Record