691 Fernwood Avenue, Monterey, California 93940, Monterey, 93940 - 2 bed, 2 bath
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Monterey, California 93940
This Single Family Residence represents a Strong Value Opportunity, listed at $1,350,000—positioned above the $1,292,373 Fair Market Value. While the property carries a Condition Rating of 4, it offers significant upside through cosmetic modernization of the kitchen and baths. The expansive 10,019 sq ft lot and stunning panoramic bay views provide a rare foundation for value-add improvements. This property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking to personalize a home in the prestigious Skyline Forest neighborhood.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 691 Fernwood Avenue Subject | $1,350,000* List Price | 2 | 2 | 1,525 | $824 | - |
A 1251 Pacific Street Sold | $961,000 | 3 | 2 | 1,538 | $625 | 0.8 mi |
B 932 Monterey Circle Sold | $1,700,000 | 4 | 3 | 2,123 | $801 | 0.8 mi |
C 564 Mar Vista Drive Active | $1,336,000 List Price | 3 | 2 | 1,700 | $786 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1963, the property features newer luxury vinyl plank flooring and is well-maintained, but the kitchen and bathrooms are dated. The oak cabinetry, white appliances, and tiled bathroom counters appear to be 15-25 years old, fitting the criteria for a home that is functional but needs cosmetic updates.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 10019, living area = 1525.
Vaulted ceilings and oversized windows capture stunning, unobstructed views of the Monterey Bay, significantly increasing the property's aesthetic appeal and market value.
The over 10,000 sq ft lot features a large deck and fenced backyard set against a serene forest backdrop, offering exceptional privacy and outdoor living space.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =10019, other record lot size in square feet = 10185.
With only two bedrooms, the property may appeal to a narrower demographic of buyers compared to larger family-oriented homes in the same price bracket.
Built in 1963, the home may require significant cosmetic or systems updates to meet the expectations of modern luxury buyers in the Monterey market.
This bright and spacious 2-bedroom, 2-bathroom home is located in Montereys sought-after Skyline Forest neighborhood. Vaulted ceilings and oversized windows capture stunning views of the Monterey Bay. The expansive 10,000+ sq ft lot features a large deck and a fully fenced backyard, providing the perfect space for privacy and outdoor relaxation. Beautiful, low-maintenance landscaping blends seamlessly into the natural forest backdrop. An attached two-car garage offers convenience and extra room for storage. Enjoy the quiet serenity of a forest setting while remaining just minutes from the world-class dining, shopping, and beaches Monterey Bay has to offer.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.0 |
| Baths | 2.0 | 2.5 |
| Square foot | 1,525 | 1,829.5 |
| Lot Size | 10,019 | 7,517.5 |
| Price | $1.35M | $1.29M |
| Price per sq ft | $885 | $686 |
| Built year | 1963 | 1962 |
| HOA | $0 | $495 |
| Days on market | 48 | 63 |
Jun 4, 2026
$1,350,000
Initial Listing