529 Wave Street, Monterey, California 93940, Monterey, 93940 - 3 bed, 2 bath
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529 Wave Street
Monterey, California 93940
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,050Sq Ft
4,400Lot Size
Property Price
LIST PRICE$895,000
EST. MARKET VALUE
$893,161
SUMMARY
This property presents a High-Potential Investment Opportunity with a List Price of $950,000—positioned well below the $888,429 Fair Market Value by -6%. While the property requires significant capital for its Condition Rating of 5, the Ocean Views and prime location near Pacific Grove High School (9/10) provide a strong foundation for value-add redevelopment. This asset is ideal for Fix-and-Flip Investors or Contractors seeking to capitalize on the Cannery Row coastal market.
Estimated Market Value
$893,161
Based on Realkey algorithm analyzing recent comparable sales in Monterey.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 529 Wave Street Subject 3 bd · 2 ba · 1,050 sqft · $851 | $895,000* List Price | 3 | 2 | 1,050 | $851 | - |
A 1201 Hoffman Avenue Sold 3 bd · 2 ba · 1,250 sqft · $816 · 0.6 mi | $1,020,000 | 3 | 2 | 1,250 | $816 | 0.6 mi |
B 662 Oak Street Sold 3 bd · 1 ba · 1,125 sqft · $787 · 0.5 mi | $885,000 | 3 | 1 | 1,125 | $787 | 0.5 mi |
C 748 Alice Street Sold 3 bd · 2 ba · 1,414 sqft · $698 · 0.9 mi | $987,575 | 3 | 2 | 1,414 | $698 | 0.9 mi |
D 271 Foam Street Pending 3 bd · 2 ba · 1,116 sqft · $986 · 0.2 mi | $1,100,000 List Price | 3 | 2 | 1,116 | $986 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1924 and marketed as a 'fixer up,' this 100-year-old property shows significant neglect. The kitchen is missing cabinet doors with exposed plumbing, the exterior features a blue tarp indicating roof or structural leaks, and the electrical system uses outdated surface-mounted conduit.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Pacific Grove High School (9/10).
- Prime Coastal Location
Situated in the highly coveted New Monterey area, the property is just steps from the iconic Cannery Row, world-class dining, and the scenic Monterey Bay Coastal Trail.
- Investment Potential
With a significant price reduction and ocean views, this property offers a rare entry point for redevelopment or a high-value renovation in a premium coastal market.
CONSRISKS & DEFICIENCIES
- Extensive Renovation Required
Explicitly marketed as a fixer-upper, the property requires significant capital investment for repairs or a complete redevelopment to be habitable or competitive.
- Limited Living Space
At only 1,050 square feet for a three-bedroom configuration, the current layout is likely cramped by modern standards and may necessitate a footprint expansion.
About 529 Wave Street
BACK ON THE MARKET & REDUCED FOR A QUICK SALE! CANNERY ROW FIXER UP WITH OCEAN VIEWS Sold "As Is" Condition. Charming Coastal Opportunity. Nestled on a 4,400 sq ft lot in one of the peninsulas most coveted coastal villages, this property presents an exceptional opportunity to acquire a piece of Monterey real estate in a prime location perfect for renovation, redevelopment, or creating your dream home just steps from the water. Built in 1924, this single-family residence combines historical character with outstanding potential. Close proximity to coastal amenities, recreation, and cultural attractions. Ideal for those seeking a personal residence, investment property, or renovation project in an enviable Monterey setting. Whether you're drawn to coastal living, historic charm, or investment potential. Brokers and agents cannot guarantee the accuracy of square footage, permits, lot size, or condition. Buyers should verify all information with licensed professionals. Some pictures are digitally altered to reflect virtual staging. The Property in 1999 was deemed not historical, but due to time it Must now go through Historical & City process & reviews. This is your chance to buy the property at a discount and go through the process to build your generational property!
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1924
- Lot Size
- 4,400 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Monterey Unified Schools
Forest Grove Elementary School
Grades K-5 • 1.6 mi
6/10
Monte Vista
Grades K-5 • 1.7 mi
5/10
Pacific Grove Middle School
Grades 6-8 • 1.2 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.4 |
| Square foot | 1,050 | 1,795.679 |
| Lot Size | 4,400 | 8,154.071 |
| Price | $895.0K | $1.25M |
| Price per sq ft | $852 | $732 |
| Built year | 1924 | 1961 |
| HOA | $0 | $461 |
| Days on market | 234 | 61 |
Pricing History
Listed for Sale
Oct 23, 2026
$895,000
$950,000
-6% Price Drop
Initial Listing
Price Change
Sep 8, 2026
$950,000
$1,050,000
-10% Price Drop
Initial Listing
Price Change
Apr 29, 2026
$1,050,000
$1,486,500
-29% Price Drop
Initial Listing
Price Change
Mar 4, 2026
$1,486,500
Initial Listing
Sold
May 6, 2005
$400,000
Public Record