11-Unit Apartment
For Sale
Contact for pricing
818 Sunset Dr, Pacific Grove, CA 93950
Fully leased multifamily property with 11 units in western Pacific Grove.
Property Size8,848 SF
Price / SF$480.33
Days on Market53
Property Features for 818 Sunset Dr
General Information
Standard status
Active
Size
8,848 SF
Property subtype
Multifamily
Occupancy
100%
Investment Type
Value Add
Net Operating Income
$195,985
Additional Details
Multifamily Units
11
Building Details
Year Built
1964
Buildings
1
Units
11
Tenancy
Multi
Listing Agency:
Kidder Mathews San Diego
Listed By:
Dev Patel · License #CA 01858087
Source:
Crexi
Added: Aug 25
Changed: Oct 4
Last Checked: Oct 16 at 9:00AM
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 Kidder Mathews San Diego
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Investment Insights
Based on property information with market context.
This 11-unit apartment property at 818 Sunset Drive contains 8,848 square feet and was built in 1964. The asset is currently 100% leased, providing established occupancy across its multifamily configuration.
Positioned in western Pacific Grove, the property offers access to Asilomar State Beach, Pebble Beach, downtown Pacific Grove, the Monterey coastline, shopping, dining, recreation, and employment centers across the Monterey Peninsula. Its setting places residents within the established coastal communities of the peninsula while maintaining proximity to regional amenities and services.
Positioned in western Pacific Grove, the property offers access to Asilomar State Beach, Pebble Beach, downtown Pacific Grove, the Monterey coastline, shopping, dining, recreation, and employment centers across the Monterey Peninsula. Its setting places residents within the established coastal communities of the peninsula while maintaining proximity to regional amenities and services.
Key Highlights
- 11‑unit apartment property
- 8,848 square feet
- 100% leased
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$142,342
Cap Rate
3.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,846,840
$2.8M
Cap Rate 7%
$2,033,457
$2.0M
Cap Rate 9%
$1,581,578
$1.6M
Market Conditions
NOI Build-Up for 8,848 SF
Gross rent
$265.4K $30.00/SF
− Vacancy
−$6.6K −$0.75/SF
EGI
$258.8K $29.25/SF
− OpEx
−$116.5K −$13.16/SF
NOI
$142.3K $16.09/SF
Area
Monterey County, CA
Vacancy
2.50%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,846,840
Cap Rate 7%
$2,033,457
Cap Rate 9%
$1,581,578
Alternative Uses
Best Use
Apartment 5plus
$2.03M
$1.78M – $2.37M
NOI $142,342 @ 7.0% cap · market cap 3.35%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$3.38M
$2.96M – $3.94M
NOI $236,491 @ 7.0% cap · market cap 5.56%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
927
Businesses Nearby
Explore this area
Business Placement
Demographics for 93950, CA
15,082
Population
8,315
Households
1.8
Avg Household Size
49
Median Age
58%
College-Educated
96%
High-School Grad
2.8 sq mi
ZIP Area
5,386
Density / Sq Mi
$105,568
Median Household Income
$62,185
Median Earnings
$2,384
Median Rent
$1,129,400
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Fully leased multifamily property with 11 units in western Pacific Grove.
Where is this apartment building located?
The property is located at 818 Sunset Dr Pacific Grove, CA.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 11‑unit apartment property; 8,848 square feet; 100% leased
