$ 1,995,000
761767 Lighthouse AVE Monterey, CA 93940
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$ 1,995,000
Est. payment /mo
Price Dropped by $80K
761767 Lighthouse AVE Monterey, CA 93940
7,150 SqFt
UPDATED:
10/10/2024 09:13 PM
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 7,150 sqft
Price per Sqft $279
MLS Listing ID ML81954010
HOA Y/N No
Year Built 1970
Lot Size 9,718 Sqft
Property Description
New Price! This mixed-use owner/user or investment opportunity has an approximately 5,550 SF two-story retail/office building and an approximately 1,600 SF two-story duplex (1br/1ba each) situated on +/- 9,720 SF of land with two APNs. The Seller has worked with the City of Monterey and the Monterey Peninsula Water Management District and received Planning and Building Dept. approval to convert the (currently vacant) 2nd floor of the front building into three residential units (two 2br/1ba, one 1br/1ba). The building plans are finished, but the permit has not yet been pulled. The zoning of the Lighthouse Area Specific Plan aims to create a livable community (comprised of mixed-use properties) and a revitalized destination point on Lighthouse Avenue for residents and visitors. Both commercial tenants have occupied the property for many years and have multiple years left on their leases. The ground floor of the duplex is used as storage by one of the commercial tenants and the upstairs unit of the duplex is rented at $1750 M-M.
Location
State CA
County Monterey
Area 699 - Not Defined
Zoning Commercial/Mixed-use - Li
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Bitumen,Shingle
Total Parking Spaces 9
Building
Story 2
Water Public
Others
Tax ID 001073003000
Listed by James Kendall • Baird Partnership, Inc.