Corner Lot Multifamily with
721 9th Street Pacific Grove, CA 93950
721 9th Street, Pacific Grove, CA, 93950
$1,500,000
For Sale
$1,500,000
Multi-family property with six units and five garages, featuring newer dual pane windows and a shared inner courtyard.
Property Size3,026 SF
Price / SF$495.70
Days on Market35
Property Features for 721 9th Street
General Information
- Standard status
- Active
- Size
- 3,026 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1930
Listing agency
Coldwell Banker Realty
(831) 236-1111
Listed by
Jeannie Ferrara · License #01464647
(831) 236-1111
Source
Compass
Added: Jun 17 Updated: Jul 21 at 3:14PM Checked: Jul 21 at 3:14PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Coldwell Banker Realty
Investment Insights
Based on property information with market context.
This corner-lot multifamily property features six units, including two 1-bedroom, 1-bath residences and four studio units. The units total 3,026 square feet, and the property also includes five garages providing approximately 727 square feet of additional storage. Interiors are supported by newer dual pane windows throughout, and the exterior has recently been painted.
The units are arranged around a shared inner courtyard designed for entertaining. The property is described as being within a short distance of schools, shopping, restaurants, and beaches in Pacific Grove, with the Coveted Pacific Grove school district noted in the remarks.
The configuration offers a mix of studio and 1-bedroom layouts, complemented by on-site garage storage for added convenience.
The units are arranged around a shared inner courtyard designed for entertaining. The property is described as being within a short distance of schools, shopping, restaurants, and beaches in Pacific Grove, with the Coveted Pacific Grove school district noted in the remarks.
The configuration offers a mix of studio and 1-bedroom layouts, complemented by on-site garage storage for added convenience.
Key Highlights
- Six‑unit multi‑family property on a corner lot with shared inner courtyard
- Unit mix includes two 1 bed/1 bath units and four studios totaling 3,026 sq ft
- Five garages plus 727 sq ft of additional storage
Local Financial Insights For Apartment 5plus
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 | $90.8k | $30.00 |
| − Vacancy | −$2.3k | −$0.75 |
| EGI | $88.5k | $29.25 |
| − OpEx | −$39.8k | −$13.16 |
| NOI | $48.7k | $16.09 |
3,026 SF · lease $30.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$695.4K
$608.5K – $811.4K
NOI $48,681 @ 7.0% cap · market cap 3.25%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.16M
$1.01M – $1.35M
NOI $80,880 @ 7.0% cap · market cap 5.39%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Multi-family property with six units and five garages, featuring newer dual pane windows and a shared inner courtyard.
Where is this apartment building located?
The property is located at 721 9th Street Pacific Grove, 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: Six‑unit multi‑family property on a corner lot with shared inner courtyard; Unit mix includes two 1 bed/1 bath units and four studios totaling 3,026 sq ft; Five garages plus 727 sq ft of additional storage
