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    942 Munras Ave Monterey, CA 93940

    Sponsored
    For Sale
    $2,800,000

    Iconic Monterey apartment building, downtown location.

    Property size:
    5,033 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents two adjacent properties located at 942 Munras Ave and 120 Carmelito Ave in Monterey, California, 93940. The combined land area totals approximately 20,979 square feet, encompassing a 5,033 square foot apartment building. This highly recognizable Monterey property boasts a prime downtown location, placing it within convenient walking distance of the city's vibrant center and the Del Monte Shopping Center. The property is zoned CO. The asking price for this unique offering is $2,800,000, translating to a price per square foot of $556.33. Owned for generations by a prominent local family, this is a rare chance to acquire a well-established asset in a highly desirable area. The properties are being sold together as a single unit, presenting a cohesive and attractive investment package. The combined APN numbers are 001-672-018 and 001-672-019. This presents a unique opportunity to acquire a piece of Monterey's history and capitalize on its thriving market. The property's strong location and established presence make it an ideal investment for discerning buyers seeking a stable and potentially high-return asset in a sought-after California coastal city.

    Property Features for 942 Munras Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    5,033 SF

    HighLights

    • $2,800,000 asking price for this iconic Monterey multifamily property.
    • Prime downtown Monterey location, walking distance to the city center.
    • Conveniently located near the Del Monte Shopping Center.
    Property Profile Location Intelligence

    Current Use by Public Records

    Monterey Acupuncture Acupuncturist

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Building Supply Clothing Store Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Monterey
    County
    Monterey
    State
    California
    Longitude
    -121.89407609521
    Latitude
    36.592160454949

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    FAQs

    What type of property is this?
    Multifamily property - Iconic Monterey apartment building, downtown location.
    Where is this multifamily property located?
    The property is located at 942 Munras Ave Monterey, CA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: $2,800,000 asking price for this iconic Monterey multifamily property.; Prime downtown Monterey location, walking distance to the city center.; Conveniently located near the Del Monte Shopping Center.
    Request Owner's contact information
    942 Munras Ave Monterey, CA 93940
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    Monterey, CA 93940
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    942 Munras Ave Monterey, CA 93940
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