410 Central Ave Pacific Grove, CA 93950-2836

Property Details for 410 Central Ave

Year built

1915

Construction

WOOD

Lot size

0.17 lot acres

Property size

2,841 SF

Property type

Apartment buildings

APN

006-187-001-000

APU

6187001000

Description

This exceptional 7-unit apartment building presents a compelling investment opportunity in the desirable Pacific Grove, California. Located at 410 Central Ave., this property boasts a prime location near downtown, offering residents convenient access to shopping and recreational amenities. The 2-story building, originally constructed in 1915 and listed on the Historical Resource Inventory, comprises 2,800 square feet and sits on a 7,200 square foot lot. Each of the seven units features its own kitchen, bathroom, and heating system, ensuring tenant comfort and independence. Currently operating at 100% occupancy, the property generates substantial income. The building includes four parking spaces and is zoned R-3-P.G.R. High Density Residential, allowing for up to 19.8 dwelling units per acre. The property's charming features include a well-maintained yard and a striking Moreton Bay Fig Tree, adding to its curb appeal and providing a sense of privacy. With a total asking price of $2,050,000, this represents a price per unit of $292,857.14 and a price per square foot of $732.14. This multifamily investment offers significant potential for both immediate returns and long-term appreciation in a highly sought-after coastal California location. The property consists of three buildings. The property is not subject to a ground lease.

Location Insight

City

Pacific Grove

County

Monterey

State

California

Longitude

-121.913

Latitude

36.6213

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments