573 Polk St

Monterey, CA 93940

$3,650,000
Price
—
Beds
—
Baths
6,220 Sq. Ft.
$587 / Sq. Ft.
6,220
Sq. Ft.
$587
per Sq. Ft.
Contingent
Contingent
a building view
a view of cabinets a wooden floor and a window
a kitchen with granite countertop white cabinets and white appliances
a view of a livingroom with wooden floor
an empty room with wooden floor cabinet and windows
a view of a room with window
an empty room that has a window in it
a kitchen with appliances cabinets and a sink
a view of empty room with a kitchen

Description

Fantastic, highly desirable location, 1/2 block from downtown Monterey. A short stroll to stores, post office, Middlebury Institute, and the beach! All but one studio apartment is separately metered for gas and electric. Parking for up to 6 vehicles in the the rear, and on-site laundry facility for tenant convenience. Monterey is a strong rental market with a dearth of affordable housing. The property is zoned commercial. 15 apartments with corresponding water credits, nestled among the beautiful,...Fantastic, highly desirable location, 1/2 block from downtown Monterey. A short stroll to stores, post office, Middlebury Institute, and the beach! All but one studio apartment is separately metered for gas and electric. Parking for up to 6 vehicles in the the rear, and on-site laundry facility for tenant convenience. Monterey is a strong rental market with a dearth of affordable housing. The property is zoned commercial. 15 apartments with corresponding water credits, nestled among the beautiful, historic adobes.
  1. Listed by C. Della Sala • DRE #00632789 • Brokerage DRE #00812157 • Pacific Street Real Estate, Inc. • 831-373-8451

Property Details for 573 Polk Street

MLS City Name
MONTEREY
Building Type
Other
Style
Craftsman
Garage Spaces
0
Parking Spaces
4
View
None
Cross Street
Hartnell Street
LISTING UPDATED: 01/22/2026 03:50 PM

Property Details for 573 Polk Street

StatusContingent
MLS #ML82030300
Days on Compass23
Taxes$13,492 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1926
Lot Size0.30 AC / 13,200 SF
CountyMonterey County

Location

Listing Courtesy of Pacific Street Real Estate, Inc., C. Della Sala, DRE #00632789
Add your commute

Building Information for 573 Polk Street

Stories-Residences-Year Built1926Building Size-Lot Size0.30 AC / 13,200 SF

Payment Calculator

$18,914 per month

30 year fixed, 6.15% Interest

Principal and Interest

$17,789

Property Taxes

$1,124

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 573 Polk Street

Features
Room Information
  • Additional Rooms: Laundry Room
  • Kitchen: Countertop - Ceramic, Countertop - Formica, Countertop - Granite, Oven Range - Gas, Refrigerator
Features
  • Communications: Cable TV
  • Energy Features: Low Flow Toilet
  • Fireplace: No
  • Flooring: Carpet, Hardwood, Laminate, Tile
  • Laundry: Coin Operated
  • Living SqFt: 6220
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: Ceiling Fan
  • Heating: Central Forced Air - Gas, Electric
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 2
Garage
  • Garage and Parking: Carport, Unassigned Spaces, Uncovered Parking
Property Details
Homeowners Association
  • HOA Amenities: Common Utility Room
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 15
  • Area Text: Downtown/Fisherman Wharf
  • Restrictions: Pets - Not Allowed
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 573
  • Street Name: Polk
  • Street Suffix: Street
  • Area ID: 118
Lot / Property Details
Building Information
  • Number of Buildings: 3
  • Structure SqFt: 6220
  • Structure SqFt Source: Assessor
  • Age: 100
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Partnership
  • Zoning Detail: PC
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 001-581-012-000
  • County Name: Monterey
  • City Name: MONTEREY
  • City Postal ID: 38
  • Postal Code: 93940
  • Elementary School District: 438
  • High School District Text: Monterey Peninsula Unified
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Description: Grade - Mostly Level
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
  • Yard Grounds: Low Maintenance
Multi Family Information
Building Information
  • No Of Leased: 15
General Information
  • Annual Tax Amount: $13,492
  • Capitalization Rate: 4.51
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating
  • Income Includes: Laundry
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $11,007
  • Expense Landscape: $792
  • Expense Maintenance: $20,826
  • Expense Management: $29,432
  • Expense Trash: $3,807
  • Expenses Other: $27,332
  • Expenses Utility: $17,018
  • Expenses Total: $123,706
  • Operating Expenses Include: Accounting/Legal, Fee - Property Management, Fee - Property Tax, Insurance, Maintenance - Capital Improvements, Maintenance - Laundry, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 12.28
  • Income Annual Gross: $288,400
  • Income Annual Rental: $294,320
  • Income Gross Scheduled: $297,320
  • Income Other: $3,000
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Half Bathrooms: 0
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Rent: $1,490
Unit 2 Information
  • Unit 2 Approx Square Footage: 400
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 0
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,720
Unit 3 Information
  • Unit 3 Approx Square Footage: 950
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Half Bathrooms: 0
  • Unit 3 Number of Bedrooms: 2
  • Unit 3 Rent: $2,450

Property History for 573 Polk Street

DateEvent & SourcePriceAppreciation
Jan 22, 2026

Contingent - Show

MLSListings #ML82030300

$3,650,000—
Jan 22, 2026

Pending

EBRD #ML82030300

—
Jan 5, 2026

Listed (Active)

MLSListings #ML82030300

$3,650,000—
Jan 5, 2026

Listed (Active)

EBRD #ML82030300

$3,650,000—
DateEvent & SourcePrice
01/22/2026

Contingent - Show

MLSListings #ML82030300

$3,650,000
01/22/2026

Pending

EBRD #ML82030300

—
01/05/2026

Listed (Active)

MLSListings #ML82030300

$3,650,000
01/05/2026

Listed (Active)

EBRD #ML82030300

$3,650,000

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

Public Records for 573 Polk Street

Taxable ValueLand$824,674Additions$148,626Total$973,300
Tax Record2025$13,492 ($1,124 / month)
Home Facts
Baths15Total Finished SqFt2,465 SqFtAbove Grade Finished SqFt2,465 SqFtStories2Lot Size14,844 SqFtStyleMulti-Family Res (5+ Units)Year Built1926CountyMONTEREYAPN001-581-012-000Fireplace TypeHas Fireplace

Schools near 573 Polk Street

This home is within Monterey Peninsula Unified School District.
Rating
School
Type
Grades
Distance
Monte Vista
Public - K to 8
Monterey High School
Public - 9 to 12
International School Of Monterey
Charter - K to 8
Monterey Peninsula Unified School District Community Day
Public - 9 to 12
Rating
School
Distance
Monte Vista
PublicK to 8

Monterey High School
Public9 to 12

International School Of Monterey
CharterK to 8

Monterey Peninsula Unified School District Community Day
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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Listing Courtesy of Pacific Street Real Estate, Inc., C. Della Sala, DRE #00632789

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.