Mixed-Use Retail and Residential
883 Lighthouse AVE Monterey, CA 93940
For Sale
Under Contract
$1,500,000
MULTI_FAMILY - MONTEREY, CA
Property Size2,633 SF
Lot Size0.11 Acres
Price / SF$569.69
Days on Market12
Property Features for 883 Lighthouse AVE
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Comm
Bedrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 3
Parking
4
Parking features
Off Street, On Street
Appliances
Cooktop - Gas, Countertop - Tile, Varies by Unit
Standard status
Active Under Contract
Size
2,633 SF
Lot size
0.11 Acres
Utilities
Heating system
Wall Furnace
Water source
Private
Building Details
Year built
1966
Number of units
2
Flooring type
Laminate, Tile, Linoleum
Roof type
Fiberglass, Composition
Listing Agency:
KW Coastal Estates
(831) 622-6200
Listed By:
Monterey Peninsula Home Team · License #70000352
(831) 594-3290
Added: Jul 18
Changed: Jul 29
Last Checked: Jul 29 at 4:06PM
MLS# ML82032663
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This mixed-use property offers four units total, including two street-facing commercial units and two residential apartments. The residential layout includes a 2-bedroom, 1-bath apartment above the commercial spaces, with a deck and off-street parking. A detached 1-bedroom, 1-bath apartment is located at the rear of the lot.
The commercial units face Lighthouse Avenue in Monterey, CA, with the property described as being just blocks from the Monterey Bay Aquarium, Cannery Row, and the waterfront.
Zoned as Comm, the building presents a combined retail and residential configuration designed for diversified rental income under one ownership structure.
The commercial units face Lighthouse Avenue in Monterey, CA, with the property described as being just blocks from the Monterey Bay Aquarium, Cannery Row, and the waterfront.
Zoned as Comm, the building presents a combined retail and residential configuration designed for diversified rental income under one ownership structure.
Key Highlights
- 4‑unit mixed‑use property with two street‑facing commercial units on Lighthouse Avenue and two residential units
- 2BD/1BA apartment above the commercial spaces with a deck and off‑street parking
- Detached 1BD/1BA apartment at the rear of the lot
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $67.3k | $25.56 |
| − Vacancy | −$1.6k | −$0.61 |
| EGI | $65.7k | $24.95 |
| − OpEx | −$19.7k | −$7.49 |
| NOI | $46.0k | $17.47 |
2,633 SF · lease $25.56/SF/yr · vacancy 2.38% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$657.0K
$574.9K – $766.5K
NOI $45,988 @ 7.0% cap · market cap 3.07%
Second Best
Apartment 5plus
$605.1K
$529.5K – $706.0K
NOI $42,358 @ 7.0% cap · market cap 2.82%
Theoretical Best
Specialty Retail
$1.01M
$879.7K – $1.17M
NOI $70,375 @ 7.0% cap · market cap 4.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Similar Off Market Nearby
- Fionna Floral — 510 Lighthouse Ave Suite 1, Pacific Grove, CA 93950
- La Martiné Flowers — 620 Lighthouse Ave No.101, Pacific Grove, CA 93950
- Majestic Floral Design - Monterey - Carmel Flowers — 191 lighthouse ave a5, monterey, ca 93940
Frequently Asked Questions
What type of property is this?
Storefront property - Four-unit property with two street-facing commercial spaces and two residential units, including one with a deck.
Where is this storefront property located?
The property is located at 883 Lighthouse AVE Monterey, CA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 4‑unit mixed‑use property with two street‑facing commercial units on Lighthouse Avenue and two residential units; 2BD/1BA apartment above the commercial spaces with a deck and off‑street parking; Detached 1BD/1BA apartment at the rear of the lot
