Laura Jewett

Laura Jewett

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Active

$2,350,000

($1,813,530 down)
VA

674 LAINE Street, Monterey, CA 93940

N/A
N/A
4,320 sqft
PITI Monthly
$6,325.15 /mo

Listing courtesy of: Robert Johnston, Marcus & Millichap

Assumed Rate

4.65%
7.15%

Principal & Interest

$3,577 /mo
$4,686 /mo

What's Special

SHOPPING
ENTERTAINMENT
DINING

674 Laine St is a stunning 4-unit apartment complex located in the thriving city of Monterey, California. Situated on a 5,750 square foot parcel of land, the subject property was originally constructed in 1964 and has a gross building area of approximately 4,320 square feet, offering its tenants beautifully designed two-bedroom floor plans. The subject property is strategically situated offering tenants easy access to Scholze Park, the Naval Postgraduate School, Monterey Peninsula College, and the Old Fisherman's Wharf. Additionally, Cannery Row is located within walking distance to 674 Laine St(0.3mi), and is home to a myriad of high-end shopping, entertainment and dining options including the Monterey Bay Aquarium, Ghirardelli Ice Cream & Chocolate Shop, Treasure Hunt the Ride, Lalla Grill as well as numerous others. Tenants also enjoy convenient access to transportation corridors including U.S. Route 1, California State Route 68, as well as other modes of transportation including the Monterey-Salinas Transit (MST), providing an inexpensive, hassle free commute to the regions major employers end entertainment centers on the Peninsula and throughout Monterey County.

... Show more

Assumption Snapshot

Type of Loan
VA
Interest Rate
4.65
Remaining Loan Term
18 years, 8 months
Monthly PITI
$6,325.15/mo
Estimated Loan Balance
$542,408
Cash to close
$1,813,530
Interest Paid
$327,727

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms:
  • Bathrooms: 0
Cooling & Heating
  • Cooling: None
  • Heating: Central
Features
  • Materials: Unknown
  • Community: Unknown
  • Has Fireplace: No
  • Fireplace Features: Unknown
  • Flooring: Carpet

Exterior

Fencing
  • Fencing: Unknown
Roof
  • Roof: Composition
Parking
  • Garage: No
  • Garage Spaces: 0
  • Carport: Yes
  • Carport Spaces:
Water
  • Sewer: Unknown
  • Water Source: Public
Pool
  • Has Pool: No
  • Pool Features: Unknown

Construction

Type & Style
  • Stories: 2
  • Home type: Quadruplex
  • Architectural Style: Unknown
Materials
  • Unknown
  • Roof: Composition
Condition
  • Year Built: 1964
Details
  • Builder:

Community & HOA

Community
  • Subdivision:
  • Features: Unknown
HOA
  • Has HOA: No
Location
  • Region: Monterey

Financial Details

  • Price per Sqft: $543.98
  • Tax Annual Amount: $29375
  • On Market Date: 2025-02-14T00:00:00.000Z
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $1,813,530 (77%)
You can enter any amount below - secondary financing will cover the difference if needed.
77%
$

You cover the entire equity of $1,813,530!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage4.65% Sellers Rate
$536,470
Your Cash:$1,813,530
Total Purchase Price:$2,350,000

Assumed vs Traditional Mortgage

Assumed @ 4.65%
$3,577/mo
Traditional @ 7.5%
$4,860/mo
You save $1,283/month ($15,397/year)

*Secondary financing rates are an estimated value based on input

MLS ID: ML81994096

Listing From:

Last updated: 2025-02-20T18:44:41.000Z

© , CRMLS. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

4.65%
7.15%

Principal & Interest

$3,577 /mo
$4,686 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $1,813,530 (77%)
You can enter any amount below - secondary financing will cover the difference if needed.
77%
$

You cover the entire equity of $1,813,530!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage4.65% Sellers Rate
$536,470
Your Cash:$1,813,530
Total Purchase Price:$2,350,000

Assumed vs Traditional Mortgage

Assumed @ 4.65%
$3,577/mo
Traditional @ 7.5%
$4,860/mo
You save $1,283/month ($15,397/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

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© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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