$2,150,000
761767 Lighthouse Avenue
Monterey, CA, 93940
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.
Property Details
Price:
$2,150,000
MLS #:
ML81954010
Status:
Active
Baths:
0
Address:
761767 Lighthouse Avenue
Type:
Commercial
Neighborhood:
699notdefined
City:
Monterey
Listed Date:
Feb 12, 2024
State:
CA
ZIP:
93940
Year Built:
1970
Schools
Interior
Cooling
None
Heating
Wall Furnace
Exterior
Parking Spots
9.00
Roof
Bitumen, Shingle
Stories Total
2
Water Source
Public
Financial
Buyer Agent Compensation
2.500
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761767 Lighthouse Avenue
Monterey, CA
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