947 W Franklin Street, Monterey, California 93940, Monterey, 93940 - 6 bed, 5 bath
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Monterey, California 93940
Analysis of 947 W Franklin Street, Monterey, California 93940 is currently available with a list price of $1,490,000. The property maintains a Poor Condition Rating (30/100), indicating the property requires renovation and updates to maximize its market potential. This presents opportunities for value-add investors. Located in a high-demand neighborhood within the Monterey Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for Experienced Investors and Fix-and-Flip Specialists.
Property is extensive renovation needed.
Explicitly marketed as a 'fixer upper,' this 1928 Victorian shows significant wear and tear. The kitchen and bathrooms are severely outdated (30-50+ years old) with peeling wallpaper, damaged cabinetry, and worn flooring. The interior requires a full rehab to address dated systems and surface defects throughout.
The property features two separate residences with independent utility meters, providing an exceptional opportunity for rental income, a guest house, or multi-generational living.
This ornate Queen Anne Victorian showcases timeless details, including original woodwork and a rustic stone fireplace, offering a rare chance to restore a landmark home to its original grandeur.
Situated in the desirable Old Town Monterey Heights, the property boasts spectacular views of Monterey Bay and includes a unique third-floor attic studio with an adjoining sun deck.
Explicitly marketed as a 'fixer-upper,' the property requires substantial capital investment and labor to address deferred maintenance and modernize its aging infrastructure.
With 58 days on market and multiple price reductions from the original $1.75M asking price, the property may face challenges regarding perceived value versus the high cost of necessary repairs.
This "fixer upper" ornate Queen Anne Victorian with spectacular views of Monterey Bay from high, in "Old Town Monterey Heights" is perfect for inspiration and creativity. With separate water and PG&E meters for 2 buildings on one property, the main residence offers 4 beds, 2.5 baths, and just over 2,000 SF of living space. Showcasing timeless architectural details, beautiful woodwork, and a rustic stone fireplace, this house has class. While public records list the construction date as 1928, there is speculation it may date back to 1907. Cherished by the same family for more than 50 years, the property presents a rare opportunity to restore a Victorian home to its original grandeur. Adding to its appeal is a 935 SF potential art studio in the 3rd floor attic with an adjoining sun deck. The 800 SF rear house is a real asset, with 2 bedrooms, 2 baths, ideal for extended family, rental income, or creative use. Another bonus is ample driveway parking for up to 7 cars and a garage/shop.
No exterior & parking available.
Grades K-5 • 0.9 mi
Grades 6-8 • 0.8 mi
Grades 9-12 • 0.4 mi
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 6.0 | 3.0 |
| Baths | 5.0 | 2.5 |
| Square foot | 2,063 | 1,829.5 |
| Lot Size | 6,860 | 7,517.5 |
| Price | $1.49M | $1.29M |
| Price per sq ft | $722 | $686 |
| Built year | 1928 | 1962 |
| HOA | $0 | $495 |
| Days on market | 68 | 63 |
Jun 30, 2026
$1,490,000
$1,640,000
-9% Price Drop
Initial Listing
Jun 19, 2026
$1,640,000
$1,750,000
-6% Price Drop
Initial Listing
May 15, 2026
$1,750,000
Initial Listing