515 Fountain Avenue, Pacific Grove, California 93950, Pacific Grove, 93950 - 4 bed, 3 bath
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Pacific Grove, California 93950
This Versatile Duplex Property represents a High-Potential Investment Opportunity, listed at $1,649,000—positioned well below the $1,708,418 Fair Market Value by 3%. This valuation gap offers $59,418 in Instant Equity. With a Fair Condition Rating, the property features a modern, renovated upper unit and a functional lower level. Located in the top-rated Pacific Grove Unified School District, this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking a "live-in-one, rent-the-other" lifestyle with coastal proximity.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 515 Fountain Avenue Subject | $1,649,000* List Price | 4 | 3 | 2,219 | $770 | - |
A 157 15th Street Sold | $1,848,000 | 3 | 3 | 2,105 | $878 | 0.3 mi |
B 603 Gibson Avenue Sold | $1,220,000 | 3 | 2 | 1,352 | $902 | 0.2 mi |
C 512 12th Street Pending | $1,750,000 List Price | 3 | 3 | 1,950 | $897 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1980, the property is well-maintained and features a significant modern renovation in the upstairs unit, including a contemporary kitchen with stone countertops, farmhouse sink, and stainless steel appliances. While the lower level kitchen and some bedrooms remain dated (Fair condition), the overall property is functional, move-in ready, and shows evidence of recent updates to primary living spaces.
Elementary School: Robert Down Elementary School (9/10). High School: Pacific Grove High School (9/10).
The property's versatile configuration as a duplex allows owners to live in one unit while renting the other, or easily utilize the entire 2,219 square feet as a large single-family residence.
Situated in the heart of Pacific Grove, the home is just blocks from downtown dining, shopping, and scenic coastal attractions, offering a highly walkable and desirable lifestyle.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 2219, other record living area = 2464. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 4, other record bedroom count = 5.
The main level features a compact kitchen and smaller living quarters compared to the more spacious, light-filled upstairs unit, which may require renovation to achieve a cohesive feel.
With a 4,500 square foot lot, the outdoor area is primarily dedicated to the deck and hot tub, leaving minimal traditional garden or lawn space for those seeking a larger yard.
Opportunity awaits in the heart of Pacific Grove with this versatile 2,219± sf property currently configured as a duplex for those seeking a "live in one, rent the other" lifestyle, or utilized as a large family home. Located just a few blocks from shopping, dining, and everyday conveniences. The main level features 2 bedrooms, 1 bathroom, a comfortable living room, a mud room with laundry, and a compact kitchen. Upstairs, the light-filled second residence with high ceilings, hardwood floors, and a wood-burning fireplace anchoring the spacious living area. Including 2 bedrooms and 2 bathrooms, and a primary suite, second living room, a generously sized kitchen and dining area designed for convenience. Outside find an expansive deck, complete with a hot tub, providing a private setting for relaxing. So come to Pacific Grove, with its charming small-town atmosphere and coastal beauty, and call it home.
No exterior & parking available.
Grades K-5 • 0.1 mi
Grades K-5 • 0.7 mi
Grades K-5 • 2.0 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 4.0 | 2.0 |
| Baths | 3.0 | 2.0 |
| Square foot | 2,219 | 1,534 |
| Lot Size | 4,500 | 5,311 |
| Price | $1.65M | $1.45M |
| Price per sq ft | $743 | $1.1K |
| Built year | 1980 | 1920 |
| HOA | $0 | $0 |
| Days on market | 22 | 44 |
Jun 30, 2026
$1,649,000
Initial Listing
May 16, 2012
$539,000
Public Record