Single buyer snaps up entire Pacific Grove block of 15 historic homes

PACIFIC GROVE, Calif. — An entire residential block, comprising of 15 historic, cottage-style homes, in Pacific Grove has been purchased for $10 million by a single buyer.

“I think it was a fair deal. I think there’s a lot of deferred maintenance with this property. You know, having … 15 single-family homes that were built in 1924…” Debby Beck, the real estate broker who represented the buyer, said.

The lot is located on 831 Laurel Avenue, near George Washington Park, which encompasses 36,000 square feet. Included is a mix of studios, and one and two bedrooms, each with its own water meter.

According to Beck, this is the only residential block that can be purchased in its entirety.

“There’s no such thing in Pacific Grove owned by one owner,” Beck said.

The buyer wished to be referred to as Whispering Pines, LLC, a nod to the home’s history. They own multiple historic properties in Pacific Grove.

“These are the perfect buyers for this property,” Beck said. “They have no intentions of subdividing it, which I think is very important to know, specifically for the historicity of Pacific Grove and maintaining it, as you know, the Whispering Pines of Pacific Grove.”

Fourteen of the fifteen cottages were built in 1924 by Dr. Andrew Jackson Hart, the owner of one of the most well-known landmarks on the Monterey Peninsula, Hart Mansion.

According to Beck, the housing market in Pacific Grove is competitive, with new properties rarely built and tenants rarely moving, especially during the pandemic.

“It’s becoming very sparse. So I’ve seen it as low as three this year. Pre-pandemic we could see 40 to 50, upwards to 80, in Pacific Grove on the market,” Beck said.

Read More: Single buyer snaps up entire Pacific Grove block of 15 historic homes

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