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Pinnacle Realty Advisors

support@pinnaclera.com +1(972) 338-5441

Listed by Hap Albers • Albers Real Estate Investment Company

$ 13,999,000

Est. payment -/mo

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1042 Forest AVE Pacific Grove, CA 93950

2 Beds

1 Bath

29,920 SqFt

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Five or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 29,920 sqft

Price per Sqft $467

MLS Listing ID ML82024593

Style Ranch

Bedrooms 2

Full Baths 1

Year Built 1964

Lot Size 1.031 Acres

Property Sub-Type Five or More Units

Source MLSListings, Inc.

Property Description

Pacific Grove apartment complexes rarely become available. This property is the first 13+ unit complex to be offered for sale since 2017. The complex features all 748 sq. ft two-bedroom / one bathroom units. 35/40 units have been remodeled. Important point for investors: President Trump's Big Beautiful Bill has very valuable provisions for real estate investors acquiring real estate in 2025 and beyond. Potentially, an investor is eligible for Bonus Depreciation. Please investigate or talk to your CPA. Other positives include a property-owned laundry facility, a RUBS billing system in place, new electric panels in 2024, and minimal landscaping. The complex benefits from Pacific Grove schools and an amazing location - the Pacific Ocean, downtown PG, the Asilomar beaches, Monterey Bay Aquarium, Pebble Beach, CHOMP, and Carmel are all very close. Starbucks is 30 yards. Other amenities include Trader Joe's, Safeway, InShape Fitness gym, multiple banks, and multiple restaurants.

Location

State CA

County Monterey

Area Country Club Gate/Forest Grove

Zoning High Density Residential (HDR)

Rooms

Kitchen Countertop - Formica, Countertop - Granite, Exhaust Fan, Hood Over Range, Oven Range - Gas, Refrigerator

Interior

Heating Gas, Wall Furnace

Cooling None

Flooring Carpet, Laminate, Tile, Vinyl / Linoleum

Laundry Coin Operated, Washer / Dryer

Exterior

Parking Features Assigned Spaces, Off-Street Parking, On Street, Parking Area

Garage Spaces 47.0

Utilities Available Individual Electric Meters, Individual Gas Meters

View Ocean

Roof Type Composition

Building

Foundation Concrete Slab, Crawl Space

Sewer Sewer Connected

Water Private / Mutual

Architectural Style Ranch

Others

Tax ID 007-101-003-000

Special Listing Condition Not Applicable