872 Laine StMonterey, CA 93940

Property Details for 872 Laine St

Year built

1926

Construction

WOOD

Lot size

0.28 AC

Property size (Sq ft)

1,344 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

001-077-021-000

APU

1077021000

Description

This exceptional Monterey property at 872 Laine Street offers a unique blend of residential comfort and lucrative investment potential. Situated on a 0.27-acre lot, the property encompasses a single-family home and a four-plex, each unit providing stunning ocean views. The combined living space totals 4,336 square feet. The prime location in the heart of Cannery Row places residents and tenants within walking distance of the beach, Monterey Bay Aquarium, and a vibrant array of shops and restaurants. The convenient proximity to the Defense Language Institute (DLI) and the National Park Service (NPS) further enhances the property's appeal as a high-demand rental location. This dual-property configuration presents an unparalleled opportunity to combine personal coastal living with a substantial passive income stream. The property's location within this iconic waterfront district offers easy access to world-class attractions, renowned dining, and boutique shopping, making it an ideal choice for both residents and renters. This is a rare chance to acquire a significant coastal property with immediate income generation potential and a highly desirable location. The asking price for this remarkable investment opportunity is $2,600,000. This property is a truly exceptional offering in the coveted Monterey market.

• CAP approach

  CAP return

  Valuation

  6%

  $499,067

  6.5%

  $460,677

  7%

  $427,772

• Comparable approach

  Method

  Valuation

  Relative Method

  $581,025

  Geo Method

  $581,025

• Alternative Use

  Use

  Valuation

  Residential

  $460,677

  Hospitality

  $421,978

  Educational

  $351,081

  Medical

  $363,155

  Retail

  $546,125

Location Insight

City

Monterey

County

Monterey

State

California

Latitude

36.6157

Longitude

-121.906

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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