Salinas, CA, CA 93906
- $4,199,000
- List Price
- $4,199,000
- Closing Date
- Aug 19, 2026
- Status
- ACTIVE UNDER CONTRACT
- MLS#
- ML82047880
- County
- Monterey
- Zoning
- Residenital High Density
- Year Built
- 1983
- Square Feet
- 12,457
- Lot Size (acres)
- 0.4559
- Days on Market
- 62
- Property Type
- Commercial
Property Description
Rarely available Salinas 16-unit apartment complex. 9.64 GRM & a 6.31% cap rate with new Proposition 13 taxes. Unit mix is all 2-bed / 1 bath. Lots of positives: 1983 construction, most of the wood siding replaced in the last 3 years, deck replacement & repairs last 4 years, SB721 clearance, exterior repainted, complex-owned laundry equipment, and Jeld-Wen vinyl windows. Interiors have remodeled the kitchens, installed new lighting, fans, and flooring, and installed new bathroom fixtures. Most units have a private deck, enclosed patio, some of which are quite spacious. There are two offices - one for management and one for ownership. The North Salinas location is close to shopping, amenities, Costco, Target, Safeway, banks, and many restaurants. Easy access to Highway 101 and may employment centers.
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Additional Information
- Taxes
- $51,331
- Parcel Number
- 253061027000
- Gross Scheduled Income
- $435,589
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Composition
- Parking Spaces
- 8
- School District
- Other
Listing courtesy of Listing Agent: Hap Albers (hap@albersrealestate.com) from Listing Office: Albers Real Estate Investment Company.
Mortgage Calculator
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