675 Jefferson St - Apartments FOR SALE


Monterey, CA 93940- Old Town
$4,995,000 USD
831-646-1919
675 Jefferson St, Monterey, CA for Sale
$4,995,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

675 Jefferson St
Monterey, CA 93940
Old Town


HIGHLIGHTS

  • Interior updates throughout
  • Opportunity for rent growth
  • Off street parking, Onsite laundry & landscaping
  • Close to downtown, dining, shopping, and waterfront
  • High demand for quality rental housing in Monterey
  • Separate PG&E, electrical and gas meters for each unit, one water meter

OVERVIEW

Mahoney & Associates is pleased to present to the market the opportunity to sell 675 Jefferson St in Monterey CA. Originally built in 1981, this 8-Unit apartment building sits on a 10,882 SF parcel in the Old Town neighborhood of Monterey. The building is of wood frame construction with varying levels of interior improvement. The unit mix consists of six, 2bed/1.5bath units and two 1bed/1bath unit. Ocean views from most units. Value add opportunity. Each unit features functional layouts with varying levels of interior improvement, providing both immediate rental income and the opportunity for future value-add enhancements.

FOR SALE DETAILS

PRICE

$4,995,000 USD

PRICE/SF

$295 USD /SF

# OF UNITS

8

PRICE/UNIT

$624,375

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Downtown Monterey 8-Unit Apartment For Sale

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1981

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.25 AC

LAND SF

10,881 SF

ZONING

Multi-Family R3

APN/PARCEL ID

001-404-001-000

ASK ABOUT THIS PROPERTY

Charles DrakeMahoney & AssociatesMore Info
831-646-1919

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Charles DrakeMahoney & AssociatesMore Info
831-646-1919

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.