662 Oak Street, Monterey, California 93940, Monterey, 93940 - 3 bed, 1 bath
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Monterey, California 93940
This Value-Add Residential Asset is listed at $925,000, positioned near its $901,774 Fair Market Value. Currently maintaining a Dated Condition Rating, the 1955-built home offers a significant footprint for forced appreciation via ADU possibilities and a potential second bathroom under MPWMD Rule 24-A-3. The property’s location in New Monterey provides access to the top-rated Pacific Grove High School (9/10), ensuring strong long-term demand. This is a strategic opportunity for Fix-and-Flip Investors or Contractors to modernize a functional structure and capture equity in a premier coastal neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 662 Oak Street Subject | $925,000* List Price | 3 | 1 | 1,125 | $802 | - |
A 1109 Mcclellan Avenue Sold | $1,150,000 | 3 | 2 | 1,178 | $976 | 0.2 mi |
B 926 Roosevelt Street Sold | $1,048,000 | 3 | 2 | 1,532 | $684 | 0.7 mi |
C 705 Grace Street Sold | $1,150,000 | 3 | 2 | 1,354 | $849 | 0.3 mi |
D 650 Grace Street Sold | $1,075,000 | 3 | 2 | 1,465 | $734 | 0.2 mi |
E 682 Taylor Sold | $860,000 | 4 | 2 | 1,304 | $660 | 0.5 mi |
F 1201 Hoffman Avenue Active Under Contract | $1,120,000 List Price | 3 | 2 | 1,250 | $896 | 0.1 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1955, the property is functional but significantly dated. The kitchen and bathroom feature finishes that appear to be 30+ years old, including square tile countertops, older cabinetry, and linoleum flooring. While the home is well-presented and staged, the 'opportunity' description and age of the systems suggest it needs minor repairs and comprehensive cosmetic updates to meet modern standards.
High School: Pacific Grove High School (9/10).
The property offers significant upside with potential for a second bathroom and ADU possibilities, allowing owners to maximize the lot's utility and value.
Situated in the sought-after New Monterey neighborhood, the home is conveniently located near premier shopping, dining, and the scenic Monterey Peninsula.
With only one bathroom serving three bedrooms, the current layout may be inconvenient for modern families and could impact the property's immediate marketability.
Built in 1955 and described as needing a 'refresh,' the home likely requires a substantial capital investment to modernize the interior and systems.
Opportunity awaits in New Monterey. This single-story 3-bedroom, 1-bath home is full of potential and ready for a new vision. Featuring a cozy fireplace, oversized one-car garage, and a private backyard, this property offers a solid footprint to reimagine or refresh. Potential for 2nd bath (2nd bath protocol - MPWMD Rule 24-A-3) and check with City for future adu possibilities. Enjoy a desirable location close to shopping, dining, and all that the Monterey Peninsula has to offer. 662 Oak St is a chance to create immediate value in a sought-after neighborhood.
No exterior & parking available.
Grades K-5 • 1.2 mi
Grades K-5 • 1.5 mi
Grades 6-8 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 1.0 | 2.0 | 12% |
| Square foot | 1,125 | 1,982 | 10% |
| Lot Size | 5,839 | 6,250 | 41% |
| Price | $925.0K | $1.19M | 19% |
| Price per sq ft | $822 | $674 | 73% |
| Built year | 1955 | 1960 | 36% |
| HOA | $0 | $0 | 50% |
| Days on market | 27 | 173 | 2% |
Mar 26, 2026
$925,000
Initial Listing