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
$1,393,215
4% AboveMARKET VALUE
SUMMARY
This Pacific Grove Duplex represents a High-Potential Investment Opportunity, listed at $1,450,000—positioned above the $1,393,215 Fair Market Value. While priced at a premium, the property offers significant long-term stability in a top-tier school district, including Robert Down Elementary and Pacific Grove High School (both 9/10). With a Condition Rating of 4, the duplex provides immediate rental income from the occupied unit and flexibility for the vacant unit. This is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a coastal asset with value-add potential.
Estimated Market Value
$1,393,215
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 | $1,450,000* List Price | 4 | 2 | 1,842 | $756 | - |
A 512 12th Street Sold | $1,620,000 | 3 | 3 | 1,950 | $831 | 0.2 mi |
B 515 Fountain Avenue Sold | $1,560,000 | 4 | 3 | 2,219 | $703 | 0.3 mi |
C 791 Spruce Avenue Sold | $1,636,750 | 4 | 2 | 1,679 | $975 | 0.7 mi |
D 157 15th Street Sold | $1,848,000 | 3 | 3 | 2,105 | $878 | 0.4 mi |
E 851 Laurel Avenue Sold | $1,120,000 | 3 | 1 | 1,144 | $979 | 0.8 mi |
F 195 Cedar Street Sold | $1,200,000 | 3 | 2 | 1,229 | $976 | 0.8 mi |
G 665 Hillcrest Avenue Sold | $1,325,000 | 3 | 2 | 1,326 | $999 | 0.6 mi |
H 902904 19th Street Active | $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, this duplex is well-maintained but features dated interiors. The kitchen and bathrooms appear to have been renovated 20-30 years ago, evidenced by the tile countertops, older white appliances, and cabinetry style. While functional and move-in ready, it requires cosmetic updates to meet modern standards.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
- Prime Coastal Location
Ideally situated just moments from downtown Pacific Grove, Lover's Point, and scenic coastal trails, offering a highly desirable lifestyle that commands premium rents.
- Versatile Investment Potential
The duplex configuration provides immediate cash flow from the occupied unit while offering the flexibility for an owner-occupant to live in the vacant unit or lease it at market rates.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1961, the property may require ongoing maintenance or capital improvements to modernize systems and structural elements compared to newer developments.
- Limited Parking and Lot Size
With only a 1-car garage per unit and a modest 4,800 sqft lot, the property offers limited space for residents with multiple vehicles or those desiring large private yards.
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 | 2.5 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,842 | 1,320.625 |
| Lot Size | 4,800 | 4,311 |
| Price | $1.45M | $1.44M |
| Price per sq ft | $787 | $1.2K |
| Built year | 1961 | 1928 |
| HOA | $0 | $0 |
| Days on market | 21 | 50 |
Pricing History
Listed for Sale
Aug 19, 2026
$1,450,000
Initial Listing
Sold
May 24, 2023
$1,493,500
Public Record