Listed by A.G. Davi Property Management
$2,900,000
1157 Forest Ave
Details
APN 006-713-023
Property Type Mixed Use, Retail
Sub Type Flex, Apartment Building
Square Footage 8,402
Units 2
Cap Rate 5.75%
NOI $166,814
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 6.62%
Pro-Forma NOI $192,074
Price per SqFt $339
Year Built 1982
Acreage 0.520
Zoning Forest Hill Commercial (C-FH) / Mixed Use
Parking Spaces 24 spaces
Parking Per SqFt 2.86
Investment Type Value Add
Mixed Use | 5.75% CAP | 8,402 SqFt
Marketing description
1157 Forest Avenue is a 100% occupied mixed-use asset strategically located in the heart of Pacific Grove's Forest Hill commercial corridor.
The property features a diverse tenant mix including retail, industrial-flex suites, and residential units—providing stable in-place income with long-term upside potential.
Ideally positioned along a high-traffic corridor connecting Highway 68 to Monterey, Pebble Beach, and Carmel, the asset also offers future development potential for up to 23 ocean-view apartment units (subject to approvals).
Investment highlights
- 100% OCCUPIED Mixed-Use Asset with Stable Income
- PREMIER LOCATION Serving Monterey, Pebble Beach & Carmel
- FUTURE UPSIDE Potential for up to 23 Ocean-View Apartments (Subject to Approvals)
- STRONG DEMOGRAPHICS Affluent Coastal Community with High Tourism Demand
- 17,663 CARS PER DAY ON FOREST AVE
- HIGHLY VISIBLE LOCATION WITH APPROXIMATELY 17,663 CARS PER DAY
Listing Contacts
Listed by A.G. Davi Property Management
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$166,814.22
$13,901.19/mo
Valuation Metrics
0
DSCR
5.75%
Cap Rate
5.75%
ROI
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