883 Lighthouse Avenue, Monterey, California 93940, Monterey, 93940 - 0 bed, 0 bath
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883 Lighthouse Avenue
Monterey, California 93940
ACTIVE UNDER CONTRACT
CONDITION: FAIR
0Beds
0Baths
2,633Sq Ft
4,800Lot Size
Property Price
LIST PRICE$1,500,000
EST. MARKET VALUE
$1,500,000
SUMMARY
This Mixed-Use Residential Income Property represents a Strong Value Opportunity, listed at a List Price of $1,500,000, which aligns with the $1,500,000 Fair Market Value. Featuring a Condition Rating of 4, the property offers a stable foundation for value-add improvements. The asset includes two commercial units and two residential apartments, including a unit with a Deck. Located near Pacific Grove High School (9/10), this property is an ideal acquisition for Buy-and-Hold Investors or Owner-Occupants seeking diversified revenue streams in a premier Monterey location.
Estimated Market Value
$1,500,000
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 |
|---|---|---|---|---|---|---|
★ 883 Lighthouse Avenue Subject 0 bd · 0 ba · 2,633 sqft · $570 | $1,500,000* List Price | 0 | 0 | 2,633 | $570 | - |
A 700 David Avenue Sold 0 bd · 0 ba · 2,235 sqft · $694 · 0.2 mi | $1,550,000 | 0 | 0 | 2,235 | $694 | 0.2 mi |
B 1113 Mcclellan Avenue Sold 0 bd · 0 ba · 2,204 sqft · $635 · 0.6 mi | $1,400,000 | 0 | 0 | 2,204 | $635 | 0.6 mi |
C 291 Watson Street Sold 0 bd · 0 ba · 3,346 sqft · $519 · 1.0 mi | $1,737,000 | 0 | 0 | 3,346 | $519 | 1.0 mi |
D 830 Parcel Street Sold 0 bd · 0 ba · 3,436 sqft · $460 · 0.7 mi | $1,580,000 | 0 | 0 | 3,436 | $460 | 0.7 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 1966, this 58-year-old property is functional and move-in ready but shows clear signs of age. The residential units feature dated kitchenettes and older flooring, while the exterior exhibits deferred maintenance including significant cracking in the asphalt parking area and peeling paint on wooden trim and stairs, requiring cosmetic and system updates.
PROSSTRENGTHS & OPPORTUNITIES
- Great Schools
High School: Pacific Grove High School (9/10).
- Prime Mixed-Use Location
Situated on Lighthouse Avenue near Cannery Row and the Monterey Bay Aquarium, the property benefits from high visibility and significant foot traffic for its commercial components.
- Diversified Revenue Streams
The combination of two street-facing commercial units and two residential apartments offers a balanced investment portfolio, mitigating risk through multiple income sources.
CONSRISKS & DEFICIENCIES
- High Days on Market
With 246 days on the market, the property may face perceived stagnation, potentially indicating a misalignment between the asking price and current market demand.
- Dated Construction
Built in 1966, the property may require capital expenditures for modernizing systems or aesthetic upgrades to remain competitive in a premier coastal market.
About 883 Lighthouse Avenue
Rare opportunity to own a 4-unit mixed-use commercial and residential property in the heart of Monterey, just blocks from the Monterey Bay Aquarium, Cannery Row, and the waterfront. Two street-facing commercial units front busy Lighthouse Avenue, offering excellent visibility and foot traffic. The property also includes two residential units: a 2BD/1BA apartment above the commercial spaces with deck and off-street parking, and a detached 1BD/1BA apartment at the rear of the lot. Ideal for investors or owner-users seeking diversified income in a premier Monterey location.
Property Details
Public Facts
- Property Type
- Duplex
- Year Built
- 1966
- Lot Size
- 4,800 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Monterey Unified Schools
Forest Grove Elementary School
Grades K-5 • 1.4 mi
6/10
Monte Vista
Grades K-5 • 1.9 mi
5/10
Pacific Grove Middle School
Grades 6-8 • 0.9 mi
8/10
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,633 | 2,835.5 |
| Lot Size | 4,800 | 5,549 |
| Price | $1.50M | $1.54M |
| Price per sq ft | $570 | $631 |
| Built year | 1966 | 1978 |
| HOA | $0 | $0 |
| Days on market | 270 | 112 |
Pricing History
Listed for Sale
Jan 27, 2026
$1,500,000
Initial Listing