277 Van Buren St, Monterey, CA 93940

Property Description

Ocean view & Del Monte Beach views. Monterey triplex near the Pacific Ocean, downtown Monterey, Fisherman's Wharf, Cannery Row, and the Middlebury Institute of International Studies (MIIS). The top floor unit is perfect for an owner's unit or second home. This ocean-view unit has two bedrooms / one bathroom, a formal living room, a family room, an office, and a kitchen with an eat-in dining area. The kitchen has white water and beach views. Two rooms are accessed from the kitchen - the first can function as a third bedroom, home office, storage, exercise room, or other uses. The second room has a vast ocean and Del Monte Beach views. The office, kitchen, and utility rooms can be opened into one larger great room. The bottom two units are one-bedroom / one-bathroom units with a potential $4,000+ monthly rent. One unit has a washer, dryer hookups, and a fenced backyard. This $4000 rent, at 6.5% interest, can pay for $625,000 of an amortized 30-year loan payment. There may be enough water credits to construct an ADU on the site.