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$ 4,199,000
Est. payment | /mo
0.46 Acres Lot
$ 4,199,000
Est. payment | /mo
0.46 Acres Lot
Key Details
Property Type Commercial
Listing Status Active Under Contract
Purchase Type For Sale
MLS Listing ID ML82047880
HOA Y/N No
Year Built 1983
Annual Tax Amount $51,331
Lot Size 0.456 Acres
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.
Location
State CA
County Monterey
Area 699 - Not Defined
Zoning Residenital High Density
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Carport Spaces 14
Roof Type Composition
Total Parking Spaces 8
Schools
School District Other
Others
Tax ID 253061027000
Special Listing Condition Standard
Listed by Hap Albers Albers Real Estate Investment Company #01006595
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