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674 Laine St 4 Unit Apartment Building $2,350,000 ($587,500/Unit) Monterey, CA 93940
INVESTMENT HIGHLIGHTS
- Investors have the rare opportunity to acquire a stunning fourplex walking distance from Cannery Row(0.3mi), Monterey California.
- Cannery Row is an attractive destination for tourist and locals alike, featuring a myriad of shopping, dining and entertainment options.
- The subject property is composed of 100% beautifully designed two-bedroom floor plans.
- 674 Laine St is within close proximity to Scholze Park, the Naval Postgraduate School and Monterey Peninsula College.
EXECUTIVE SUMMARY
674 Laine St is a stunning 4-unit apartment complex located in the thriving city of Monterey, California.
Situated on a 5,750 square foot parcel of land, the subject property was originally constructed in 1964 and has a gross building area of approximately 4,320 square feet, offering its tenants beautifully designed two-bedroom floor plans.
The subject property is strategically situated offering tenants easy access to Scholze Park, the Naval Postgraduate School, Monterey Peninsula College, and the Old Fisherman's Wharf. Additionally, Cannery Row is located within walking distance to 674 Laine St(0.3mi), and is home to a myriad of high-end shopping, entertainment and dining options including the Monterey Bay Aquarium, Ghirardelli Ice Cream & Chocolate Shop, Treasure Hunt the Ride, Lalla Grill as well as numerous others.
Tenants also enjoy convenient access to transportation corridors including U.S. Route 1, California State Route 68, as well as other modes of transportation including the Monterey-Salinas Transit (MST), providing an inexpensive, hassle-free commute to the region's major employers end entertainment centers on the Peninsula and throughout Monterey County.
The investment appeal of this asset is driven by Monterey’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Monterey, 674 Laine St presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
Situated on a 5,750 square foot parcel of land, the subject property was originally constructed in 1964 and has a gross building area of approximately 4,320 square feet, offering its tenants beautifully designed two-bedroom floor plans.
The subject property is strategically situated offering tenants easy access to Scholze Park, the Naval Postgraduate School, Monterey Peninsula College, and the Old Fisherman's Wharf. Additionally, Cannery Row is located within walking distance to 674 Laine St(0.3mi), and is home to a myriad of high-end shopping, entertainment and dining options including the Monterey Bay Aquarium, Ghirardelli Ice Cream & Chocolate Shop, Treasure Hunt the Ride, Lalla Grill as well as numerous others.
Tenants also enjoy convenient access to transportation corridors including U.S. Route 1, California State Route 68, as well as other modes of transportation including the Monterey-Salinas Transit (MST), providing an inexpensive, hassle-free commute to the region's major employers end entertainment centers on the Peninsula and throughout Monterey County.
The investment appeal of this asset is driven by Monterey’s strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Monterey, 674 Laine St presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,350,000 | Apartment Style | Low-Rise |
| Price Per Unit | $587,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.13 AC |
| Gross Rent Multiplier | 20.94 | Building Size | 4,320 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1964 |
| Price | $2,350,000 |
| Price Per Unit | $587,500 |
| Sale Type | Investment |
| Gross Rent Multiplier | 20.94 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.13 AC |
| Building Size | 4,320 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
AMENITIES
SITE AMENITIES
- Recycling
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | - | 887 |
1 1
Walk Score®
Walker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 001-067-016-000 | Total Assessment | $1,290,811 (2025) |
| Land Assessment | $634,151 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $656,660 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
001-067-016-000
Land Assessment
$634,151 (2025)
Improvements Assessment
$656,660 (2025)
Total Assessment
$1,290,811 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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674 Laine St
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