498 Park Ave, Monterey, CA 93940

$3,125,000
6,505
SqFt
List Price
$3,125,000
Closing Date
Nov 01, 2021
MLS#
ML81860842
Status
CONTINGENT
Sqft. of Residence
6,505
Lot Size
10,000
Listing Area
Oak Grove
Year Built
1958

Property Description

This 10 unit Apartment Complex is located in one of the most ideal neighborhoods in Monterey. Excellent proximity to The Naval Post Graduate School, Fisherman's Wharf and all that the City of Monterey has to offer. The accessibility of the location gives you a sense of ease and security but also allows convenient access to nearby towns, beaches, schools and local highways. All these factors lead to the continuous high demand for rental property in this area. This complex consists of 5 two-bedroom units, 4 one-bedroom units and a studio unit. Tenants pay their own PG&E and the landlord is responsible for sewer, garbage, water and common area PG&E. All units also have covered parking with storage and a shared coin-operated laundry room. There has been some updating in each unit as well as to the exterior decking, railing and landscaping. Rental income is based on the August 2021 rent roll.

Additional Information

Acres
0.2296
Age
63
Cooling System
None
Foundation
Concrete Perimeter and Slab
Garage Parking
Assigned Spaces, Carport
Heating System
Wall Furnace
Laundry Facilities
Coin Operated
Living Area
6,505
Lot Size
10,000
Neighborhood
Oak Grove
Other Utilities
Public Utilities
Roof
Tar and Gravel, Other
Sewer
Sewer - Public
Unincorporated Yn
Yes
Zoning
Comm. 5 or more units

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Calculator source: Real Geeks

Listing courtesy of Suzanne Menendez-Herbst from Shankle Real Estate

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