851 Lyndon Street, Monterey, California 93940, Monterey, 93940 - 5 bed, 3 bath
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851 Lyndon Street
Monterey, California 93940
ACTIVE
CONDITION: FAIR
5Beds
3Baths
1,926Sq Ft
5,000Lot Size
Property Price
LIST PRICE$1,499,000
EST. MARKET VALUE
$1,380,113
8% AboveMARKET VALUE
SUMMARY
FULL_VERSION
This New Monterey Triplex represents a Strong Value Opportunity, listed at $1,499,000—positioned above the $1,380,113 Fair Market Value. While priced at a premium, the property offers significant Income & Owner-Occupancy Potential with a Condition Rating of 4, featuring recent capital improvements like copper plumbing and sewer line replacement. Boasting ocean views and proximity to Pacific Grove High School (9/10), this asset is ideal for Buy-and-Hold Investors or Owner-Occupants seeking to offset ownership costs through strategic rental income.
SEO VERSION
New Monterey triplex for sale. Ocean views, 5 beds, 3 baths, and recent upgrades. Prime income property near Pacific Grove schools. Ideal for owner-occupants.
Estimated Market Value
$1,380,113
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 |
|---|---|---|---|---|---|---|
★ 851 Lyndon Street Subject 5 bd · 3 ba · 1,926 sqft · $717 | $1,499,000* List Price | 5 | 3 | 1,926 | $717 | - |
A 901 Filmore Street Sold 3 bd · 3 ba · 1,979 sqft · $586 · 0.2 mi | $1,160,000 | 3 | 3 | 1,979 | $586 | 0.2 mi |
B 777 Parcel Street Sold 3 bd · 2 ba · 1,542 sqft · $778 · 0.1 mi | $1,200,000 | 3 | 2 | 1,542 | $778 | 0.1 mi |
C 2160 David Avenue Sold 3 bd · 2 ba · 1,386 sqft · $794 · 0.2 mi | $1,100,000 | 3 | 2 | 1,386 | $794 | 0.2 mi |
D 947 W Franklin Street Sold 6 bd · 5 ba · 2,063 sqft · $582 · 0.9 mi | $1,200,000 | 6 | 5 | 2,063 | $582 | 0.9 mi |
E 835 Pine Street Active Under Contract 4 bd · 3 ba · 1,647 sqft · $638 · 0.4 mi | $1,050,000 List Price | 4 | 3 | 1,647 | $638 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1963, the property is over 60 years old. While major systems like the electric panel, copper plumbing, and sewer lines have been updated, the interior images show a dated kitchen with older cabinetry and basic finishes. The property is well-maintained and functional but requires cosmetic modernization to move beyond a fair rating.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Pacific Grove High School (9/10).
- Income & Owner-Occupancy Potential
This triplex configuration offers a strategic opportunity for an owner-user to live in one unit while utilizing rental income from the other two units to significantly offset the cost of ownership.
- Extensive Capital Improvements
The property has undergone significant recent upgrades including electric panel replacement, copper water lines, sewer line replacement, and remodeled units, greatly reducing the need for immediate maintenance investment.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1926, other record living area = 682. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
- Delayed Unit Availability
Unit A is not scheduled to be vacated until November 2026, which restricts a new owner's ability to immediately renovate, occupy, or adjust that specific unit to current market rents.
- High Density on Limited Lot Size
Housing three separate units plus carports and a garage on a 5,000 sqft lot results in a high-density footprint with limited private outdoor space for residents.
About 851 Lyndon Street
New Monterey Triplex with ocean views. Great opportunity to owner-occupy a unit with rent to offset the ownership costs. The property has two structures: the front unit is a 708 sq. ft. free-standing two-bedroom/one-bathroom with a private wraparound deck facing the ocean. The rear building is a duplex with a one-bedroom /one-bathroom 544 sq. ft. apartment and a 674 sq. ft. two-bedroom / one-bathroom apartment. All units have open beam vaulted ceilings and their own water heater. The property owner has performed extensive repairs and upgrades to the property, including: electric panel replacement, copper water lines, vinyl windows, Hunter Douglas window blinds, leaf gutters, Units B & C remodeled, sewer line replacement, and a pest fumigation using orange oil. Unit A will be vacating in November 2026. The location is very close to the ocean, downtown PG, Cannery Row, upper PG shopping with Trader Joe's, banks, restaurants, and it is also close to the Montage main hospital campus. Easy access to Highway 68 & 1. The property has three carports, one garage, and an onsite laundry facility.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1963
- Lot Size
- 5,000 Sq. Ft.
Interior
- Total Bedrooms
- 5
- Total Bathrooms
- 3 (3 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 • 0.7 mi
6/10
Monte Vista
Grades K-5 • 1.5 mi
5/10
Pacific Grove Middle School
Grades 6-8 • 0.4 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.0 |
| Baths | 3.0 | 2.4 |
| Square foot | 1,926 | 1,795.679 |
| Lot Size | 5,000 | 8,154.071 |
| Price | $1.50M | $1.25M |
| Price per sq ft | $778 | $732 |
| Built year | 1963 | 1961 |
| HOA | $0 | $461 |
| Days on market | 8 | 61 |
Pricing History
Listed for Sale
Oct 16, 2026
$1,499,000
Initial Listing
Sold
Oct 16, 2001
$620,000
Public Record