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Listed by Hap Albers • Albers Real Estate Investment Company
$4,199,000
Est. payment /mo
12,457 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 12,457 sqft
Price per Sqft $337
MLS Listing ID ML82047880
HOA Y/N No
Year Built 1983
Lot Size 0.456 Acres
Property Sub-Type Other
Source Datashare MLSListings
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
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Flooring Laminate, Tile
Fireplace No
Appliance Refrigerator
Exterior
View City Lights
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