735 Mermaid Avenue

Pacific Grove, CA 93950

$1,210,000
Last Sold Price
Beds
1,760 Sq. Ft.
$688 / Sq. Ft.
1,760
Sq. Ft.
$688
per Sq. Ft.

Description

You are a stone's throw from Lover's Point & less than one block from the ocean in this rare investment opportunity in Pacific Grove. This tri-plex boasts an upstairs 2bd/2ba unit with 2 large bedrooms, bay views through the expansive picture windows as well as an ample balcony that lets in the ocean breeze & salty air. Your tenants can listen to the seagulls coo while having their morning coffee in the lovely great room that exudes charm & character. The 2 downstairs units are each 1 bd/1ba with...You are a stone's throw from Lover's Point & less than one block from the ocean in this rare investment opportunity in Pacific Grove. This tri-plex boasts an upstairs 2bd/2ba unit with 2 large bedrooms, bay views through the expansive picture windows as well as an ample balcony that lets in the ocean breeze & salty air. Your tenants can listen to the seagulls coo while having their morning coffee in the lovely great room that exudes charm & character. The 2 downstairs units are each 1 bd/1ba with sliding doors leading to a private back yard patio. Both downstairs units are updated with clean bathrooms & kitchens. The upstairs unit is currently a permitted & successful short term rental. The location of this property is prime... walk to restaurants, the beach, rec trail, farmer's market OR bike to both Asilomar & the Aquarium (& all that Cannery Row has to offer) - attractive & perfect for short term renters as well as long term ternants. This peak property is a once-in-a-lifetime find!
  1. Listed by The Jacobs Team • DRE #70003531 • KW Coastal Estates • 831-236-7976

Property Details for 735 Mermaid Avenue

MLS City Name
PACIFIC GROVE
Building Type
TRIPLEX
Style
Bungalow
Garage Spaces
2
Parking Spaces
0
View
Bay

Location

Listing Courtesy of KW Coastal Estates, The Jacobs Team, DRE #70003531

Sold By KW Coastal Estates, Giulio Mark Benetti, DRE #01958095

Add your commute
LISTING UPDATED: 10/01/2020 10:32 AM

Property Details for 735 Mermaid Avenue

StatusSold
MLS #ML81799805
Days on Compass31
Taxes$6,255 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / TRIPLEX
Year Built1962
Lot Size0.04 AC / 1,794 SF
CountyMonterey County

Location

Listing Courtesy of KW Coastal Estates, The Jacobs Team, DRE #70003531

Sold By KW Coastal Estates, Giulio Mark Benetti, DRE #01958095

Add your commute

Virtual Tour

Building Information for 735 Mermaid Avenue

Stories2Residences3Year Built1962Building Size-Lot Size0.04 AC / 1,794 SF

Payment Calculator

$7,125 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,603

Property Taxes

$521

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 735 Mermaid Avenue

Features
External Links
Room Information
  • Kitchen: Cooktop - Gas, Countertop - Formica, Countertop - Tile, Oven Range, Oven Range - Electric, Refrigerator
Features
  • Amenities: Open Beam Ceiling, Skylight
  • Communications: Cable TV
  • Energy Features: Double Pane Windows, Tankless Water Heater
  • Fireplace: No
  • Flooring: Carpet, Laminate, Tile
  • Living SqFt: 1760
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Separate Common Area, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Attached Garage
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Exterior: Dual Pane Windows
  • Area Text: Beach Tract/Fairway Homes
  • Roof: Tar and Gravel
  • Subclass: Triplex
  • Year Built Source: Assessor
  • Street Number: 735
  • Street Name: Mermaid
  • Street Suffix: Avenue
  • Area ID: 126
Lot / Property Details
Building Information
  • Number Of Stories: 2
  • Number of Buildings: 1
  • Structure SqFt: 1760
  • Structure SqFt Source: Other
  • Age: 58
Development Information
  • Construction Type: Wood Frame
  • Ownership Type: Individual
  • Zoning Detail: Multi Family
Location Information
  • Directions: Mermaid Ave is the small road/alley directly across the street from The Beach House restaurant at Lover's Point. Property is on the left side of the street. If parking in front of property is occupied, park inside the yellow lines on Mermaid Ave close by.
  • Parcel Number: 006-074-023-000
  • County Name: Monterey
  • City Name: PACIFIC GROVE
  • City Postal ID: 44
  • Postal Code: 93950
  • Elementary School District: 440
  • High School District Text: Pacific Grove Unified
Lot Information
  • Foundation: Concrete Slab
  • Horse Property: No
  • Lot Acres: .04
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
  • Yard Grounds: Balcony / Patio, Fenced, Low Maintenance
Mobile / Manufactured Information
Other Information
  • Dual Variable: No
Multi Family Information
Building Information
  • No Of Leased: 1
General Information
  • Annual Tax Amount: $6,255
  • Building Unit Total: 3
  • Capitalization Rate: 3.73
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 0
Income / Expense Details
  • Expense Insurance: $806
  • Expense Landscape: $0
  • Expense Maintenance: $606
  • Expense Management: $10,598
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $3,492
  • Expenses Total: $21,757
  • Operating Expenses Include: Utilities - Hot Water, Utilities - Water, Other
  • Gross Rent Multiplier: 18.03
  • Income Annual Gross: $66,566
  • Income Annual Rental: $66,566
  • Income Gross Scheduled: $66,566
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 0
  • Unit 1 Rent: $1,500
Unit 2 Information
  • Unit 2 Approx Square Footage: 252
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 0
Unit 3 Information
  • Unit 3 Approx Square Footage: 1256
  • Unit 3 Full Bathrooms: 2
  • Unit 3 Number of Bedrooms: 2
Unit Type 1
  • Unit Type1 Approx SqFt: 252

Property History for 735 Mermaid Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

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

Public Records for 735 Mermaid Avenue

Taxable ValueLand$728,280Additions$530,904Total$1,259,184
Tax Record2023$13,920 ($1,160 / month)
Home Facts
Baths4Total Finished SqFt1,794 SqFtAbove Grade Finished SqFt1,794 SqFtStories2Lot Size1,760 SqFtStyleMulti-Family Dwelling (2-4)Year Built1962CountyMONTEREYAPN006-074-023-000Fireplace TypeHas Fireplace

Schools near 735 Mermaid Avenue

This home is within Pacific Grove 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
Robert Down Elementary School
PublicK to 5

Pacific Grove Middle School
Public6 to 8

Pacific Grove High School
Public9 to 12

Community High (Continuation) 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.

Similar Homes

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Similar Sold Homes

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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 expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of KW Coastal Estates, The Jacobs Team, DRE #70003531

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.