Ocean Views, Vintage Charm & Rental Income in Old Monterey!
Experience the charm of Old Monterey with this rare triplex offering ocean views and strong income potential. Set on a spacious 6,500 sq. ft. street-to-alley lot, the property features a 1,369 sq. ft. main home with 2 bedrooms and 1 bath vacant and ready for your vision. An attached 605 sq. ft. 1-bedroom, 1-bath unit rents for $1,795/month, while a detached 934 sq. ft. 2-bedroom, 2-bath unit with ocean views earns $2,450/month. A 2-car garage and flexible layout add to the appeal, making this an ideal opportunity to live in one unit while generating steady rental income or to create a dream compound. Located near the Wharf, MIIS, downtown Monterey, beaches, and all the natural beauty of the Monterey Peninsula, this is a truly special property with endless possibilities.
Sold for $1,425,000
$1,425,000
338 Watson St, Monterey, CA 93940
5beds
1,975sqft
Single Family Residence, Residential
Built in 1954
6,507 Square Feet Lot
$1,438,400 Zestimate®
$722/sqft
$4,011 Estimated rent
Home value
$1,438,400
$1.25M - $1.65M
$4,011/mo
Zestimate® history
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Owner options
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$4,011/mo
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Rent Zestimate®
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$8,902/mo
Est. payment
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Est. payment
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List your homeWhat's special
Zillow last checked: 7 hours ago
Listing updated: December 11, 2025 at 05:53am
Listed by:
Doug Steiny 00681652 831-236-7363,
Sotheby’s International Realty 831-624-1566
Bought with:
Dorothy Coulter, 01800430
EXIT Realty Consultants
Source: MLSListings Inc,MLS#: ML82018507
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 4
- Full bathrooms: 3
- 1/2 bathrooms: 1
Dining room
- Features: FormalDiningRoom
Family room
- Features: KitchenFamilyRoomCombo
Heating
- Central Forced Air
Cooling
- None
Features
- Fireplace features: Living Room
Interior area
- Total structure area: 1,975
- Total interior livable area: 1,975 sqft
Property
Parking
- Total spaces: 2
- Parking features: Attached
- Attached garage spaces: 2
Features
- Stories: 2
Lot
- Size: 6,507 sqft
Details
- Parcel number: 001375036000
- Zoning: R 3-5
- Special conditions: Standard
Construction
Type & style
- Home type: SingleFamily
- Property subtype: Single Family Residence, Residential
Materials
- Foundation: Concrete Perimeter and Slab
- Roof: Other
Condition
- New construction: No
- Year built: 1954
Utilities & green energy
- Gas: PublicUtilities
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Public Utilities, Water Public
Community & neighborhood
Location
- Region: Monterey
Other
Other facts
- Listing agreement: ExclusiveRightToSell
Price history
| Date | Event | Price |
|---|---|---|
| 9/19/2025 | Sold | $1,425,000-6.6%$722/sqft |
Source:  MLSListings Inc #ML82018507 Report a problem | ||
| 8/30/2025 | Contingent | $1,525,000$772/sqft |
Source: MLSListings Inc #ML82018507 Report a problem | ||
| 8/19/2025 | Listed for sale | $1,525,000$772/sqft |
Source: MLSListings Inc #ML82018507 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,097 +10.8% | $135,067 +2% |
| 2024 | $1,893 +19.8% | $132,420 +2% |
| 2023 | $1,581 +1.3% | $129,825 +2% |
Find assessor info on the county website
Neighborhood: Old Town
Nearby schools
GreatSchools rating
- 6/10Monte VistaGrades: K-8Distance: 1 mi
- 8/10Monterey High SchoolGrades: 9-12Distance: 0.5 mi
Schools provided by the listing agent
- District: MontereyPeninsulaUnified
Source: MLSListings Inc. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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Estimated market value
$1,438,400
Get a cash offer in 3 minutes
Find out how much your home could sell for in as little as 3 minutes with a no-obligation cash offer.
Estimated market value
$1,438,400
- California
- Monterey County
- Monterey
- 93940
- Old Town
- 338 Watson St