514 7th Street, Pacific Grove, California 93950, Pacific Grove, 93950 - 0 bed, 0 bath
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Pacific Grove, California 93950
This Residential Income Duplex presents a High-Potential Investment Opportunity, listed at $1,595,000—positioned well above the $1,337,700 Fair Market Value. While the property requires capital improvements due to its Condition Rating of 4, it offers a stable House Hack strategy in a prime coastal location. Featuring private patios and proximity to top-rated schools like Robert Down Elementary and Pacific Grove High, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking to leverage rental income while building long-term equity in a high-demand community.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 514 7th Street Subject | $1,595,000* List Price | 0 | 0 | 1,842 | $726 | - |
A 609 Congress Avenue Sold | $1,285,000 | 0 | 0 | 2,004 | $641 | 0.6 mi |
B 301 7th Street Active | $1,225,000 List Price | 0 | 0 | 1,680 | $729 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1961, this property is well-maintained but dated. The kitchen features older painted cabinetry, tile countertops with grout lines, and white appliances likely over 15-20 years old. Bathrooms and flooring (carpet/tile) are functional but reflect older renovation styles. While move-in ready, it requires cosmetic updates and system monitoring due to age.
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
Ideally situated moments from downtown Pacific Grove, Lover's Point, and the scenic Monterey Bay Coastal Trail, offering an unbeatable lifestyle in a high-demand area.
The duplex configuration allows for immediate rental income from the occupied unit while providing the vacant unit for an owner-occupant or a new market-rate lease.
Built in 1961, the property may require ongoing maintenance or capital improvements to aging systems to meet modern efficiency standards and maximize rental yields.
With only a one-car garage per unit and a compact 4,800 sqft lot, the property may be restrictive for tenants with multiple vehicles or significant storage requirements.
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.
No exterior & parking available.
Grades K-5 • 0.3 mi
Grades K-5 • 0.9 mi
Grades K-5 • 1.8 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,842 | - |
| Lot Size | 4,800 | - |
| Price | $1.59M | $1.39M |
| Price per sq ft | $866 | $571 |
| Built year | 1961 | 0 |
| HOA | $0 | $0 |
| Days on market | 29 | 181 |
Jun 23, 2026
$1,595,000
Initial Listing
May 24, 2023
$1,493,500
Public Record