Sold
Last Sold Price
13,482 sqft
137 Ford Rd, Carmel Valley, CA 93924
Multi Family 5+Property Type
1.12 acresLot Size
1972Year Built
$378/sq ftPrice per sq ft
12 carsParking Spaces

Description

Large units each with 2 walk-in closets, 2 regular closets and a linen closet. Double the size of other units and earning a very high rent per unit. These 2 bedroom 2 bathroom units are listed at a 4.7 cap with proven upside potential. The remodeled units are renting fast at $2500 plus both before and after Corona. If all units were rented at $2,500 the Gross would increase $50k to $360,000.00 without increasing expenses. This opportunity is three four plexes so that one might finance each unit individually...Large units each with 2 walk-in closets, 2 regular closets and a linen closet. Double the size of other units and earning a very high rent per unit. These 2 bedroom 2 bathroom units are listed at a 4.7 cap with proven upside potential. The remodeled units are renting fast at $2500 plus both before and after Corona. If all units were rented at $2,500 the Gross would increase $50k to $360,000.00 without increasing expenses. This opportunity is three four plexes so that one might finance each unit individually at very low rates. Some units occupied over 10 years. These are very desirable, tenants can walk to the shops and restaurants in the village, or enjoy the open fields adjacent. Apartments are rare in Carmel Valley and demand is high. The income continues to increase so please review the most up to date financial information as it may be even further improved. Please be sure to visit https://bit.ly/3dC72Wv for COVID-19 rules for entering a home and best practices.
  • Listed by: Monterey Peninsula Home Team DRE #70000352 Brokerage DRE #01527814 • KW Coastal Estates 831-313-2289
Listing closed: 11/16/2020 12:00 AM • Source: MLSListings, MLS#: ML81776180

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Recent comparable sales

Median sold price

$500,000

Avg days on market

159

Sale-to-list ratio

88.2%

Carmel Valley, CA

9 comparable properties found

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1/6
1

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Unavailable
Bedrooms
Unavailable
Bathrooms
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Square Feet
0.35
Acres
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Bathrooms
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Sold 12/18/24

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Bathrooms
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Square Feet
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Acres
a view of a city with tall buildings
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Sold 09/26/25

Unavailable
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Bathrooms
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Acres
$200,000 | 1 De Amaral Road, Carmel Valley, CA 93924
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Unavailable
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Square Feet
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Acres
a view of a forest with a tree
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$300,000

Sold 05/02/25

Unavailable
Bedrooms
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Bathrooms
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Square Feet
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Acres
$995,000 | West Carmel Valley Road, Carmel Valley, CA 93924
1/18
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$995,000

Sold 09/18/26

Unavailable
Bedrooms
Unavailable
Bathrooms
Unavailable
Square Feet
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Acres
a lush green forest with lots of trees
1/16
9

$500,000

Sold 02/19/26

Unavailable
Bedrooms
Unavailable
Bathrooms
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Square Feet
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Acres

Location

Listing Courtesy of KW Coastal Estates, Monterey Peninsula Home Team, DRE #70000352

Sold By Out of Area Office, RECIP, DRE #00000000

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Property Information for 137 Ford Road

Property Details
  • Taxes: $42,000 / year
  • MLS Type: 5+ Units / Five or More Units
  • MLS City Name: CARMEL VALLEY
  • Building Type: Other
  • Complex Name: Airport Apartments
  • Style: Traditional
  • Garage Spaces: 0
  • Parking Spaces: 12
  • View: Forest / Woods, Hills, Mountains, Pasture, Valley
  • Cross Street: Carmel Valley Rd
Building Information
  • Year Built: 1972
  • Lot Size: 1.12 AC / 48,808 SF
Features
External Links
Room Information
  • Kitchen: Countertop - Formica, Countertop - Granite, Countertop - Stone, Hood Over Range, Oven - Electric
Features
  • Amenities: Walk-in Closet
  • Communications: Cable TV
  • Energy Features: Low Flow Toilet
  • Fireplace: No
  • Flooring: Carpet, Laminate
  • Laundry: Coin Operated
  • Living SqFt: 13482
  • Pool: No
  • Security Features: None
  • Special Features: Other
Utilities
  • Cooling: None
  • Heating: Central Forced Air
  • Meters: Master Gas, Separate Electric, Separate Gas, Separate Water
  • Sewer Septic: Septic Standard
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Individual Water Meter
Carport and Parking
  • Carport Min: 12
Garage
  • Garage and Parking: Assigned Spaces, Carport, Lighted Parking Area
Property Details
Homeowners Association
  • HOA Amenities: Common Utility Room
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 12
  • Area Text: Carmel Valley Village, Los Tulares, Sleepy Hollow
  • Restrictions: Age - No Restrictions, Parking Restrictions, Pets - Allowed
  • Roof: Composition
  • Subclass: Five or More Units
  • TIC Agreement: No
  • Year Built Source: Assessor
  • Street Number: 137
  • Street Name: Ford
  • Street Suffix: Road
  • Area ID: 171
Lot / Property Details
Building Information
  • Number of Buildings: 3
  • Structure SqFt: 13482
  • Structure SqFt Source: Other
  • Age: 47
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Individual
  • Zoning Detail: HDR/B-6-D-S-R AZ
Location Information
  • City Limits: No
  • Incorporated: Yes
  • Parcel Number: 187-512-013-000
  • County Name: Monterey
  • City Name: CARMEL VALLEY
  • City Postal ID: 10
  • Postal Code: 93924
  • Elementary School District: 432
  • High School District Text: Carmel Unified
Lot Information
  • Foundation: Concrete Slab
  • Lot Acres: 1.12
  • Lot Description: Grade - Mostly Level
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
  • Yard Grounds: Balcony / Patio, Deck, Fenced
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 12
General Information
  • Annual Tax Amount: $42,000
  • Capitalization Rate: 4.57
  • Tenant Expenses: Services - Sewer, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Water
  • Income Includes: Coin Operated Equip, Mgrs Unit Rental, Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $7,463
  • Expense Landscape: $3,500
  • Expense Maintenance: $3,800
  • Expense Management: $1
  • Expense Trash: $5,180
  • Expenses Other: $2,000
  • Expenses Utility: $3,183
  • Expenses Total: $67,127
  • Operating Expenses Include: Maintenance, Services - Gardener, Utilities - Electric, Utilities - Gas, Utilities - Heat, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 17.17
  • Income Annual Gross: $311,400
  • Income Annual Rental: $305,400
  • Income Gross Scheduled: $311,400
  • Income Other: $6,000
Unit 1 Information
  • Unit 1 Full Bathrooms: 2
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $1,825
Unit Type 1
  • Unit Type1 Approx SqFt: 1100

Property History for 137 Ford Road

DateEvent & SourcePriceAppreciation
Nov 16, 2020

Temporarily Off Market

EBRD #ML81776180

—
Nov 13, 2020

Sold

EBRD #ML81776180

$5,090,000—
Nov 13, 2020

Sold

MLSListings #ML81776180

$5,090,000—
DateEvent & SourcePrice
11/16/2020

Temporarily Off Market

EBRD #ML81776180

—
11/13/2020

Sold

EBRD #ML81776180

$5,090,000
11/13/2020

Sold

MLSListings #ML81776180

$5,090,000

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 137 Ford Road

Taxable ValueLand$993,671Additions$219,895Total$1,213,566
Tax Record2025$13,118 ($1,093 / month)
Home Facts
Baths8Total Finished SqFt4,494 SqFtAbove Grade Finished SqFt4,494 SqFtStories2Lot Size16,500 SqFtStyleMulti-Family Res (5+ Units)Year Built1972Year Renovated1972CountyMONTEREYAPN187-512-013-000

Schools near 137 Ford Road

This home is within Carmel Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Tularcitos Elementary School
PublicK to 5

Carmel Middle School
Public6 to 8

Carmel High School
Public9 to 12

Carmel Valley High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 137 Ford Road, Carmel Valley, CA 93924
$5,090,000
–
–
13,482
48,808
$337,000
3
2.5
2,136
17,860
$500,000
3
1,225
51,629
$700,000
3
2
1,271
43,617
–
4
2
1,796
43,560
$675,000
3
–
0

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Coastal Estates, Monterey Peninsula Home Team, DRE #70000352

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.