1042 Forest Ave, PACIFIC GROVE, CA

$13,999,000

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29,920

Square feet

1.03

Acres

About 1042 Forest Ave

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.

Features of 1042 Forest Ave

MLS® # ML82024593
Price $13,999,000
Square Footage 29,920
Acres 1.03
Year Built 1964
Type Multi-Residential
Sub-Type Five or More Units
Status Active

Community Information

Address 1042 Forest Ave
Area Country Club Gate/Forest Grove
City PACIFIC GROVE
County Monterey
State CA
Zip Code 93950

Amenities

Utilities Individual Electric Meters, Individual Gas Meters
Parking Spaces 47
View Ocean View
Is Waterfront No

Interior

Heating Gas Heat, Wall Furnace
Cooling No Cooling
Fireplace No

Exterior

Roof Composition Roof
Construction Wood Frame
Foundation Concrete Slab, Crawl Space

Additional Information

Zoning High Density Residential (HDR)
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

AgentHap Albers
OfficeAlbers Real Estate Investment Company
Contact Info408-893-6002

Listing Map

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