Old Town Monterey Homes under $1.5 million

Welcome to Old Town Monterey, a charming neighborhood that beautifully blends history with coastal elegance. Nestled along California's stunning coastline in Monterey County, this vibrant area is known for its rich heritage, picturesque waterfront, and a warm sense of community. With its cobblestone streets and historic buildings, Old Town Monterey invites you to explore its eclectic shops, delightful restaurants, and captivating art galleries, all while soaking in the coastal charm that defines this unique locale.

For those seeking their dream home in this enchanting neighborhood, you’ll be pleased to discover a variety of homes available for under $1.5 million. Whether you’re looking for a cozy cottage with a touch of vintage flair or a modern abode with ocean views, Old Town Monterey offers a diverse selection of properties that cater to different tastes and lifestyles. Imagine waking up to the sound of waves crashing nearby or enjoying a leisurely stroll to the scenic waterfront, where you can watch the sunset paint the sky in vibrant hues.

In addition to its stunning homes, Old Town Monterey boasts a rich array of amenities. Residents enjoy easy access to beautiful parks, the historic Fisherman’s Wharf, and the renowned Monterey Bay Aquarium. The neighborhood is also well-connected to local schools and healthcare facilities, making it an ideal place for families and retirees alike.

Discover the charm and allure of Old Town Monterey, where coastal living meets historic charm, and find your perfect home today!

Newest Old Town Monterey Homes under $1.5 million

$1,495,000

5 Beds ⋅ 3 Baths ⋅ ML82062871 MLS

Rare opportunity in Old Town Monterey! Two charming Spanish-style homes on one parcel, just blocks from the heart of downtown Monterey. So many possibilities. Perfect for an investor, or live in one and rent out the other. The front residence at 355 Monroe features 3 bedrooms, 1 bathroom, and approximately 850 square feet of living space, while 357 Monroe offers 2 bedrooms, 1.5 bathrooms, and approximately 1,092 square feet, with convenient access from Eddie Burns Lane and an attached garage. A fenced yard separates the two residences, creating privacy and distinct outdoor spaces for each home. Full of character, the property features charming architectural details, hardwood floors, a fireplace, inviting outdoor areas, and a peek of the Monterey Bay from the deck at 357. Enjoy the flexibility of two detached residences while being moments from downtown Montereys restaurants, shops, waterfront, and all that the highly desirable Old Town neighborhood has to offer.

355 & 357 Monroe ST, Monterey

Listed by Alexandra Armanasco, 831-915-8688 from Sotheby's International Realty
(If provided) CoList: from

$615,000

2 Beds ⋅ 1 Baths ⋅ ML82062755 MLS

Originally purchased by the current owners family in the 1930s, 383 Clay Street--a century old fishermans cottage--is on the market. Located in a quiet Monterey neighborhood close to schools and the Defense Language Institute, its within walking distance to downtown. While being HUD approved rental property that was occupied by the last tenant for over forty years, the house is definitely a fixer-upper. A new roof was installed in 2019, new stairs were recently installed on the back deck and the carpets have been replaced. 383 Clay St. is a property with potential.

383 Clay ST, Monterey

Listed by Lance Monosoff, 831-595-3132 from Central Coast Properties
(If provided) CoList: from

$1,275,000

2 Beds ⋅ 2 Baths ⋅ ML82061951 MLS

Welcome to 307 Monroe Street an exceptional Old Monterey home offering rare walkability, a larger than typical 1,475 sq ft footprint, and a beautifully maintained 2BD/2BA layout on a generous 6,199 sq ft lot. This property delivers the charm of a classic Monterey neighborhood with the space, function, and lifestyle buyers struggle to find in this price band. The home features a bright, open living area, updated systems, and a detached garage ideal for ADU potential, studio use, or secure storage. The oversized lot provides privacy, expansion flexibility, and outdoor enjoyment uncommon for the area. Located just moments from Alvarado Street dining, the Wharf, the Library, and neighborhood parks, this address offers one of Monterey's most coveted walkable lifestyles. Additional advantages include a 2.25% assumable VA loan, expanding the buyer pool and enhancing affordability for qualified purchasers. With clean presentation, strong systems, and a location known for long term desirability, 307 Monroe stands out as a rare opportunity in one of Monterey's most stable micro-markets. Don't miss the chance to secure a home that blends charm, space, and walkability perfectly positioned for todays Monterey buyer.

307 Monroe ST, Monterey

Listed by Robert Chestnut, 831-574-9470 from Compass
(If provided) CoList: from

$1,233,000

2 Beds ⋅ 2 Baths ⋅ ML82057338 MLS

Classic Old Monterey charm meets beautifully restored comfort at 537 Larkin Street offering 2 bedrooms, 2 baths, approximately 1,125 square feet. Impeccably maintained, this inviting home showcases a Carmel stone fireplace, soaring 10-foot ceilings, hardwood floors throughout, Italian porcelain tile in the bathrooms, and granite finishes in the gourmet kitchen. A downstairs bonus room offers flexible space for games, movie nights, a home office, or guests, while an outdoor shower is perfect after a day at the beach. Located in the heart of historic Old Monterey, the home offers an exceptional walkable lifestyle near Fishermans Wharf, downtown dining, cafes, waterfront trails, museums, parks, and Montereys vibrant cultural district. Enjoy morning coffee nearby, sunset strolls along Monterey Bay, and convenient access to Pacific Grove, Cannery Row, Carmel, and Pebble Beach. Coastal charm, timeless character, and everyday convenience come together in one truly special home-- come experience it for yourself!

537 Larkin ST, Monterey

Listed by J.R. Rouse Properties Group, 831-218-5738 from Sotheby's International Realty
(If provided) CoList: from

$899,000

4 Beds ⋅ 2 Baths ⋅ ML82056529 MLS

Project - Great Monterey Location. This is a fixer upper. Has great potential featuring 4 bedrooms and 2 baths on 1 level. There is a bonus room with separate entrance on left side, below the 1st floor. There are open bean ceilings and a living room fireplace. Peaceful canyon views can be seen from the large window to the deck. There could be 1 car garage if small wall was removed. Has laundry in here as well There is also a carport. Much of the plumbing, windows and roof have been updated. Walk to Veterans Park and downtown Monterey and Fisherman's wharf. Opportunity is knocking.

1021 Johnson ST, Monterey

Listed by Leslie Johnson, 831-238-0464 from Sotheby's International Realty
(If provided) CoList: from

$1,025,000

3 Beds ⋅ 2 Baths ⋅ ML82055401 MLS

Located in the heart of Old Monterey, this charming 1914 home presents a rare opportunity to restore and reimagine a true local classic. With solid bones and timeless character, this 3-bedroom, 1.5-bath residence is ready for a visionary owner to create a stunning showcase home. The property offers exciting potential for renovation, including the possibility of adding an ADU or finishing the basement to expand the living space. Perched on a sunny hillside, the home enjoys city lights, hillside vistas, and peeks of Monterey Bay. Inside, abundant natural light fills the spacious floor plan, while the generous kitchen provides an ideal space for entertaining family and friends. The expansive backyard offers endless possibilities for outdoor living, gardening, or creating a private retreat. Ideally located within walking distance of downtown Monterey, Fisherman's Wharf, the Recreation Trail, local restaurants, and the popular Tuesday Monterey Farmers Market, this home combines historic charm with exceptional convenience. Whether you're looking to restore its original beauty or create your dream home, this is a rare opportunity to own a piece of Monterey's rich history.

833 Hellam ST, Monterey

Listed by William Sterling, 831-521-4312 from Elemental Real Estate Services
(If provided) CoList: from

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The data relating to real estate for sale on this display comes in part from the Internet Data Exchange program of the MLSListingsTM MLS system. Real estate listings held by brokerage firms other than Compass are marked with the Internet Data Exchange and detailed information about them includes the names of the listing brokers and listing agents.
Based on information from MLSListings MLS as of . All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.