Unique Monterey Multifamily
942 Munras Ave Monterey, CA 93940
942 Munras Ave, Monterey, CA, 93940
Contact for pricing
For Sale
Contact for pricing
Two multifamily properties offered together in Monterey, California.
Property Size5,033 SF
Lot Size0.48 Acres
Price / SF$466.92
Days on Market1054
Property Features for 942 Munras Ave
General Information
- Standard status
- Active
- Size
- 5,033 SF
- Lot size
- 0.48 Acres
- Property subtype
- Multifamily
Listing Agency
Mahoney & Associates
(831) 646-1919
Listed by
Peter Baird · License #CA 00533485
Source
Crexi
Added: Aug 28, 2023 Checked: Jul 15 at 12:09 pm
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
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.
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 | $151.0k | $30.00 |
| − Vacancy | −$3.8k | −$0.75 |
| EGI | $147.2k | $29.25 |
| − OpEx | −$66.2k | −$13.16 |
| NOI | $81.0k | $16.09 |
5,033 SF · lease $30.00/SF/yr · vacancy 2.50% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Monterey Acupuncture
Alternative Medicine Practice
Similar For Sale Nearby
FAQs
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.
