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Listed by Hap Albers • Albers Real Estate Investment Company
$ 13,999,000
Est. payment | /mo
29,920 SqFt
$ 13,999,000
Est. payment | /mo
29,920 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 29,920 sqft
Price per Sqft $467
MLS Listing ID ML82024593
HOA Y/N No
Year Built 1964
Lot Size 1.031 Acres
Property Sub-Type Other
Source Datashare MLSListings
Property Description
Pacific Grove apartment complexes rarely become available. This property is the first 13+ unit complex to be offered for sale since 2017. The complex features all 748 sq. ft two-bedroom / one bathroom units. 87% of the units have been remodeled. Important point for real estate investors: A new IRS regulation passed in 2025 allows for accelerated depreciation, which can result in substantial depreciation for buildings purchased after January 1st, 2025. Potentially, an investor is eligible for Bonus Depreciation. Please investigate or talk to your CPA. Other positives include a property-owned laundry facility, a RUBS billing system in place, new electric panels in 2024, and minimal landscaping. The complex benefits from Pacific Grove schools and an amazing location - the Pacific Ocean, downtown PG, the Asilomar beaches, Monterey Bay Aquarium, Pebble Beach, CHOMP, and Carmel are all very close. Starbucks is 30 yards. Other amenities include Trader Joe's, Safeway, InShape Fitness gym, multiple banks, and multiple restaurants.
Location
State CA
County Monterey
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Flooring Laminate, Tile
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
© 2025 BEAR, CCAR, bridgeMLS. This information is deemed reliable but not verified or guaranteed. This information is being provided by the Bay East MLS or Contra Costa MLS or bridgeMLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
