From the city of Monterey, a sunrise from the direction of 119 degrees in December and January just barely peeks over the water of the bay and the best place to watch it rise is at the Coast Guard Wharf, Fishermans Wharf, Commercial Wharf, or the trail between Coast Guard and Fisherman's Wharf.
In the Summer the rises more to the northeast at 60-80 degrees, so is easily seen from anywhere west of about Fisherman's Wharf including areas of Cannery Row and Pacific Grove. Go any further east and the coastline starts to turn to the north, with the sunrise over the land behind you.
http://www.timeanddate.com/worldclock/astronomy.html?n=883


