1172 First St

Monterey, CA 93940

$3,556,400
Last Sold Price
—
Beds
—
Baths
8,364 Sq. Ft.
$425 / Sq. Ft.
8,364
Sq. Ft.
$425
per Sq. Ft.
Get preapproved with Rocket Mortgage1
Sold 3/8/24
Sold 3/8/24
a front view of a house with a yard
a view of a house with porch and furniture
a view of an outdoor space with seating area
a view of an outdoor space
a black and white and white sitting area in a room
a view of entryway with a front door
a view of a house with a deck
a view of a house with a yard
a view of a entryway door of the house
a view of a car garage
a car parked in front of building
a view of a porch with plants and wooden fence
a view of a car garage
a view of balcony with wooden floor
a view of parking area
a view of a hallway with wooden floor and staircase
a utility room with dryer and washer
a bathroom with a sink and mirror
a view of a street from a balcony
an empty room with wooden floor and windows
a kitchen with kitchen island a refrigerator a stove a sink dishwasher and wooden cabinets with wooden floor
a bathroom with a bathtub and a shower
wooden floor in a hall with an entryway
a view of entryway
a view of an empty room with a window
an view of an empty room and a window
a bathroom with a sink and toilet
a bathroom with a sink and a toilet
a kitchen with a cabinets and white appliances
a view of a hallway with staircase
a view of a kitchen with a stove cabinets and a window

Description

Opportunity Knocks! Great location just two blocks from the ocean and 3 blocks to NPS. Units in nice condition and rarely vacant. Each unit has designated carport with lockable storage room behind. Common area laundry room with two commercial coin operated washers and two dryers. All units have individual gas water heaters and gas forced air furnaces. No deferred maintenance and well maintained property makes this a great investment opportunity with mostly long term tenants in prime location.Opportunity Knocks! Great location just two blocks from the ocean and 3 blocks to NPS. Units in nice condition and rarely vacant. Each unit has designated carport with lockable storage room behind. Common area laundry room with two commercial coin operated washers and two dryers. All units have individual gas water heaters and gas forced air furnaces. No deferred maintenance and well maintained property makes this a great investment opportunity with mostly long term tenants in prime location.
  1. Listed by Steve Mast • DRE #00648524 • Brokerage DRE #00648524 • Mast Realty • 831-384-0422

Property Details for 1172 First Street

MLS City Name
MONTEREY
Building Type
Other
Style
Traditional
Garage Spaces
0
Parking Spaces
0
View
None
Cross Street
Ocean Ave
LISTING UPDATED: 03/08/2024 09:49 AM

Property Details for 1172 First Street

StatusSold
MLS #ML81949902
Days on Compass17
Taxes$7,400 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1975
Lot Size0.23 AC / 10,019 SF
CountyMonterey County
Get preapproved with Rocket Mortgage1

Location

Listing Courtesy of Mast Realty, Steve Mast, DRE #00648524

Sold By Platinum One Real Estate, The Debby Beck Group, DRE #70010203

Add your commute

Building Information for 1172 First Street

Stories-Residences-Year Built1975Building Size-Lot Size0.23 AC / 10,019 SF

Payment Calculator

Get preapproved with
OriginPoint Mortgage or Rocket Mortgage1

$17,950 per month

30 year fixed, 6.15% Interest

Principal and Interest

$17,333

Property Taxes

$617

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Know your buying power with a preapproval and custom rate in minutes

Rocket Mortgage1

Property Information for 1172 First Street

Features
Room Information
  • Additional Rooms: Laundry Room, Storage
  • Kitchen: Countertop - Formica, Dishwasher, Exhaust Fan, Hood Over Range, Oven Range - Electric, Refrigerator
Features
  • Energy Features: Low Flow Shower, Low Flow Toilet
  • Fireplace: No
  • Flooring: Carpet, Vinyl / Linoleum
  • Laundry: Coin Operated
  • Living SqFt: 8364
  • Pool: No
  • Security Features: Security Lights
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Central Forced Air - Gas
  • Meters: Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public, Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters, Natural Gas, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 11
Garage
  • Garage and Parking: Assigned Spaces, Carport, Off-Street Parking
Property Details
Homeowners Association
  • HOA Amenities: Additional Storage, Common Utility Room
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 10
  • Area Text: Oak Grove
  • Restrictions: Parking Restrictions, Pets - Not Allowed
  • Roof: Composition
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 1172
  • Street Name: 1st
  • Street Suffix: Street
  • Area ID: 119
Lot / Property Details
Building Information
  • Number of Buildings: 2
  • Structure SqFt: 8364
  • Structure SqFt Source: Assessor
  • Age: 48
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Trust
  • Zoning Detail: R4
Location Information
  • City Limits: Yes
  • Incorporated: No
  • Parcel Number: 001-826-003-000
  • 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 and Slab
  • Lot Acres: .23
  • 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: Balcony / Patio, Fenced, Low Maintenance, Storage Shed / Structure
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 10
General Information
  • Annual Tax Amount: $7,400
  • Capitalization Rate: 4.83
  • Tenant Expenses: Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water
  • Income Includes: Laundry, Rents
  • Vacancy Factor: 1
Income / Expense Details
  • Expense Insurance: $5,600
  • Expense Landscape: $4,700
  • Expense Maintenance: $10,800
  • Expense Management: $26,000
  • Expense Trash: $6,250
  • Expenses Other: $2,800
  • Expenses Utility: $14,900
  • Expenses Total: $78,450
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Maintenance - Capital Improvements, Maintenance - Laundry, Maintenance - Repair, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Hot Water, Utilities - Water
  • Gross Rent Multiplier: 14.35
  • Income Annual Gross: $262,152
  • Income Annual Rental: $260,000
  • Income Gross Scheduled: $264,800
  • Income Other: $4,800
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,000
Unit 2 Information
  • Unit 2 Approx Square Footage: 982
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Half Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $2,200
Unit Type 1
  • Unit Type1 Approx SqFt: 800

Property History for 1172 First Street

DateEvent & SourcePriceAppreciation
Mar 8, 2024

Sold

EBRD #ML81949902

$3,556,400—
Mar 8, 2024

Sold

MLSListings #ML81949902

$3,556,400—
Mar 4, 2024

Sold (Public Record)

Public Record #1528429942

$3,556,500—
Feb 1, 2024

Contingent - Show

MLSListings #ML81949902

—
Jan 4, 2024

Pending

MLSListings #ML81949902

—
Jan 4, 2024

Contingent - Show

MLSListings #ML81949902

—
Jan 4, 2024

Pending

EBRD #ML81949902

—
Dec 18, 2023

Listed (Active)

MLSListings #ML81949902

$3,800,000—
Dec 18, 2023

Listed (Active)

EBRD #ML81949902

$3,800,000—
DateEvent & SourcePrice
03/08/2024

Sold

EBRD #ML81949902

$3,556,400
03/08/2024

Sold

MLSListings #ML81949902

$3,556,400
03/04/2024

Sold (Public Record)

Public Record #1528429942

$3,556,500
02/01/2024

Contingent - Show

MLSListings #ML81949902

—
01/04/2024

Pending

MLSListings #ML81949902

—
01/04/2024

Contingent - Show

MLSListings #ML81949902

—
01/04/2024

Pending

EBRD #ML81949902

—
12/18/2023

Listed (Active)

MLSListings #ML81949902

$3,800,000
12/18/2023

Listed (Active)

EBRD #ML81949902

$3,800,000

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

Public Records for 1172 First Street

Taxable ValueLand$2,040,000Additions$1,590,528Total$3,630,528
Tax Record2025$42,878 ($3,573 / month)
Home Facts
Baths11Total Finished SqFt8,364 SqFtAbove Grade Finished SqFt8,364 SqFtStories2Lot Size10,000 SqFtStyleMulti-Family Res (5+ Units)Year Built1975Year Renovated1977CountyMONTEREYAPN001-826-003-000Fireplace TypeHas Fireplace

Schools near 1172 First Street

This home is within Monterey Peninsula Unified School District.
Rating
School
Type
Grades
Distance
La Mesa Elementary School
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
La Mesa Elementary School
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.

Similar Homes

Similar Sold Homes

Explore Nearby Homes

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims 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 discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Mast Realty, Steve Mast, DRE #00648524

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.