CA
Monterey
PACIFIC GROVE
93950
1042 Forest Avenue
1042 Forest Avenue, PACIFIC GROVE, CA 93950
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Listing Type
Multi Family
Listing Status
active
14
$13,999,000

Home Details for 1042 Forest Avenue

Price
$13,999,000
Type
Residential Income
Bedrooms
0
Bathrooms
Square feet
29920
Year built
1964
Lot size acres
1.0305
County
Monterey
Garage
Basement
Crawl Space
Days on site
19
MLS Listing#
ML82024593
Listed By: Albers Real Estate Investment Company - 831-372-1922
Listed By: Hap Albers
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. 87% of the units have been remodeled. Important point for real estate investors: A new IRS regulation passed in 2025 allows for accelerated depreciation, which can result in substantial depreciation for buildings purchased after January 1st, 2025. 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.

Property Features
  • Parking
    • Off Street
    • On Street
    • Assigned
  • Heating Information
    • Natural Gas
    • Wall Furnace
  • Cooling Information
    • None
  • Water Features
    • Private
  • Basement
    • Crawl Space
School Information
School Information for 1042 Forest Avenue, PACIFIC GROVE, CA 93950
Elementary School
N/A
Middle School
Pacific Grove Middle
High School
Pacific Grove High
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Based on information from the MLSListings MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Copyright 2025 MLSListings Inc. All rights reserved.

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Last Updated: 2025-10-12 22:31:51
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EXIT REALTY CONSULTANTS
16175 Monterey #A, Morgan Hill, CA 95037
CA DRE# 01424183. Kris Klair Broker.
Margaret Vierra
Associate Broker
Office
209 668 2525
Agent
408 202 3243
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