Bought with Hap Albers • Albers Real Estate Investment Company
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Key Details
Sold Price $3,915,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 12,457 sqft
Price per Sqft $314
MLS Listing ID ML82047880
Sold Date 08/13/26
Style Ranch
Bedrooms 2
Full Baths 1
Year Built 1983
Lot Size 0.456 Acres
Property Sub-Type Five or More Units
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 Northgate/Sherwood Gardens, Santa Rita
Zoning Residenital High Density
Rooms
Other Rooms Laundry Room, Office Area, Storage
Kitchen Countertop - Formica, Dishwasher, Hood Over Range, Oven Range - Electric, Refrigerator
Interior
Heating Gas, Wall Furnace
Cooling None
Flooring Carpet, Laminate, Tile, Vinyl / Linoleum
Laundry Washer / Dryer
Exterior
Exterior Feature Back Yard, Balcony / Patio, Deck , Low Maintenance
Parking Features Assigned Spaces, Attached Garage, Off-Street Parking, On Street
Garage Spaces 1.0
Community Features None
Utilities Available Individual Electric Meters, Individual Gas Meters
View City
Roof Type Composition
Building
Lot Description Grade - Mostly Level
Foundation Concrete Perimeter and Slab, Concrete Slab
Sewer Sewer Connected
Water Individual Water Meter
Others
Restrictions None
Tax ID 253-061-027-000
Security Features None
Special Listing Condition Not Applicable
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