Unique Monterey Multifamily
For Sale
Contact for pricing
942 Munras Ave, Monterey, CA 93940
Two multifamily properties offered together in Monterey, California.
Property Size5,033 SF
Lot Size0.48 Acres
Price / SF$466.92
Days on Market1146
Property Features for 942 Munras Ave
General Information
Standard status
Active
Size
5,033 SF
Lot size
0.48 Acres
Property subtype
Multifamily
Zoning
CO
Building Details
Units
6
Listing Agency:
Mahoney & Associates
Listed By:
Peter Baird · License #CA 00533485
(831) 646-1919
Source:
Crexi
Added: Aug 28, 2023
Changed: Oct 8
Last Checked: Oct 16 at 5:49AM
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 Mahoney & Associates
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This offering features a unique and recognized Monterey property. The property consists of approximately 20,979 square feet of land and approximately 5,033 square feet of improvements. The two sites are being offered together. The properties have been owned by a Monterey family for a generation and are now available for sale.
Key Highlights
- Approximately 20,979 SF of land.
- Approximately 5,033 SF of improvements.
- Two properties being sold together.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$80,968
Cap Rate
3.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,619,360
$1.6M
Cap Rate 7%
$1,156,686
$1.2M
Cap Rate 9%
$899,644
$899.6K
Market Conditions
NOI Build-Up for 5,033 SF
Gross rent
$151.0K $30.00/SF
− Vacancy
−$3.8K −$0.75/SF
EGI
$147.2K $29.25/SF
− OpEx
−$66.2K −$13.16/SF
NOI
$81.0K $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%
$1,619,360
Cap Rate 7%
$1,156,686
Cap Rate 9%
$899,644
Alternative Uses
Best Use
Apartment 5plus
$1.16M
$1.01M – $1.35M
NOI $80,968 @ 7.0% cap · market cap 3.45%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.92M
$1.68M – $2.24M
NOI $134,523 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
2,851
Businesses Nearby
Explore this area
Business Placement
Demographics for 93940, CA
30,454
Population
15,451
Households
2
Avg Household Size
43
Median Age
54%
College-Educated
94%
High-School Grad
35.1 sq mi
ZIP Area
868
Density / Sq Mi
$110,669
Median Household Income
$62,711
Median Earnings
$2,305
Median Rent
$1,039,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two multifamily properties offered together in Monterey, California.
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 $2,350,000.
What are key features of this property?
This property features: Approximately 20,979 SF of land.; Approximately 5,033 SF of improvements.; Two properties being sold together.
