120 Carmelito Avenue

Unique opportunity to own a two-parcel, multi-unit, estate compound in a central Monterey location. Consisting of two separate and independently parceled contiguous lots: 120 Carmelito Avenue and 942 Munras Avenue, each parcel contains individual improvements. There are 7 units in total, comprised of a 3 bedroom, 2 bath home, a two bedroom unit, 3 one bedroom units, a loft studio unit, and a stand alone commercial office. In addition, there are storage areas, parking and a workshop. The two properties offer a total of approximately 21,000 square feet of land and 5,000 square feet of improvements. Currently, 6 of the units are rented and the property is professionally managed. Owned by the same family for many years, this exceptional property is located within walking distance to downtown Monterey. The two parcels and improvements are being sold in their "As Is" present condition and are being sold together.

Days on Market

600 days

Current Status

Contingent

Sold Price

Original Price

$3,850,000

List Price

$2,350,000

On Market Date

Aug 11, 2023

Contract Date

Feb 13, 2025

Close Date

Apr 14, 2025

Property Type

Single Family Home

Area

113 - Monte Regio/Peter's Gate

Zip Code

93940

MLS ID

ML81938121

APN

001-672-019-000

Year Built

1900

Stories in Building

Unavailable

Possession

Tenant Rights

COE

Apr 14, 2025

Data Source

MLSL

Origin MLS System

MLSListings, Inc.

Bed

11

Bath

8 (7/1)

Parking

3

Off-Street Parking, On Street

SQ FT

5,033

SQ FT Source

Unavailable

Lot SQ FT

20,979.0

Lot Acres

0.481612 Acres

Cooling

None

Dining Room

No Formal Dining Room

Disclosures

Natural Hazard Disclosure

Family Room

No Family Room

Foundation

Concrete Perimeter and Slab

Heating

Wall Furnace

Possession

Tenant Rights

Fee

Unavailable

MLS and other Information regarding properties for sale as shown in Theo have been obtained from various sources such as sellers, public records, agents and other third parties. This information may relate to the condition of the property, permitted or unpermitted uses, zoning, square footage, lot size/acreage or other matters affecting value or desirability. Unless otherwise indicated in writing, neither brokers, agents nor Theo have verified, or will verify, such information. If any such information is important to buyer in determining whether to buy, the price to pay or intended use of the property, buyer is urged to conduct their own investigation with qualified professionals, satisfy themselves with respect to that information, and to rely solely on the results of that investigation.

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