883 Lighthouse Avenue, Monterey, California 93940, Monterey, 93940 - 0 bed, 0 bath
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Monterey, California 93940
This Rare Mixed-Use Income Property is listed at $1,500,000, representing a stable entry point at its $1,487,787 Fair Market Value. Comprising two commercial storefronts and two residential units with a deck and patio, the asset maintains a Condition Rating of 4, offering significant value-add potential through modernization. Situated near Cannery Row, the location ensures high visibility and access to the prestigious Pacific Grove High School (9/10) and Middle School (8/10). This versatile asset is a premier acquisition for Buy-and-Hold Investors or Owner-Users targeting diversified revenue.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 883 Lighthouse Avenue Subject | $1,500,000* List Price | 0 | 0 | 2,633 | $565 | - |
A 113 Seeno Street Active Under Contract | $1,395,000 List Price | 0 | 0 | 2,517 | $554 | 0.9 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1966, this mixed-use property is well-maintained but shows clear signs of its age. The exterior displays weathered siding and cracked asphalt, while the interior spaces, including the salon and residential components, feature dated cabinetry, older tile and wood flooring, and basic light fixtures. While functional and currently occupied, the property lacks modern renovations and high-end finishes, fitting the criteria for a property that is aged but functional with signs of being outdated.
High School: Pacific Grove High School (9/10).
Situated on busy Lighthouse Avenue near Cannery Row and the Monterey Bay Aquarium, the property benefits from exceptional visibility and high foot traffic for its commercial components.
With two commercial storefronts and two residential units—including a detached rear apartment—the property offers a versatile and resilient income stream for investors or owner-users.
Built in 1966, the building may require significant capital investment for modernizing systems or aesthetic updates to remain competitive in a premier coastal market.
Managing four units on a 4,800-square-foot lot in a high-traffic tourist zone may present parking challenges for commercial clients and residential tenants alike.
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.
No exterior & parking available.
Grades K-5 • 1.4 mi
Grades K-5 • 1.9 mi
Grades 6-8 • 0.9 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 | 1966 | - | 0% |
| HOA | $0 | $0 | 0% |
| Days on market | - | - | 0% |
Jan 27, 2026
$1,500,000
Initial Listing