700 David Avenue, Monterey, California 93940, Monterey, 93940 - 0 bed, 0 bath
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Monterey, California 93940
This Prime Coastal Multi-Family Asset is listed at $1,600,000, representing a stable entry point aligned with its $1,576,329 Fair Market Value. Maintaining a Fair Condition Rating, the 1987-built quadruplex offers significant Value-Add potential through interior modernization to capture top-tier market rents. The property features a rare reinforced concrete carport with 5+ parking spaces and stunning bay views from the second-level units. Located blocks from Cannery Row and served by the top-rated Pacific Grove High School (9/10), this is a high-demand acquisition for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 700 David Avenue Subject | $1,600,000* List Price | 0 | 0 | 2,235 | $705 | - |
A 1113 Mcclellan Avenue Active Under Contract | $1,500,000 List Price | 0 | 0 | 2,204 | $681 | 0.5 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1987, this 37-year-old quadruplex is well-maintained and fully occupied, but its age places it in the 'Fair' category. While the reinforced concrete foundation and exterior appear solid, the property is likely to have dated interior finishes and original systems that will require minor repairs or modernization to meet current market standards.
High School: Pacific Grove High School (9/10).
Ideally situated on a large corner lot just blocks from Cannery Row and the Monterey Bay Aquarium, offering unparalleled access to world-class dining, shopping, and the scenic recreation trail.
This fully occupied fourplex features a strong rental history and is being offered for the first time by the original builders, representing a rare and reliable 'buy-and-hold' asset for any portfolio.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =6098, other record lot size in square feet = 6400.
With a total building size of 2,235 square feet for four units, the average living space per unit is approximately 558 square feet, which may limit the tenant profile to smaller households.
Built in 1987 and held by the same family for nearly 40 years, the units likely require cosmetic or system upgrades to achieve top-of-market rental rates and meet modern aesthetic standards.
Ideally located on a large corner lot just blocks from the bay, Cannery Row, Monterey Bay Aquarium, restaurants, shopping, the scenic recreation trail, public transportation and more. Built by the current owner's family in 1987, this is the first time this property has been on the market. The foundation of the building is a reinforced concrete carport with 5+ parking spaces and storage for each unit. The apartments are on the second level, taking advantage of the bay views. This fully occupied fourplex has a strong rental history making it an excellent investment and key asset for your portfolio.
No exterior & parking available.
Grades K-5 • 1.2 mi
Grades K-5 • 1.8 mi
Grades 6-8 • 0.7 mi
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | - | - | 0% |
| Baths | - | - | 0% |
| Square foot | - | - | 0% |
| Lot Size | - | - | 0% |
| Price | - | - | 0% |
| Price per sq ft | - | - | 0% |
| Built year | 1987 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Apr 18, 2026
$1,600,000
Initial Listing