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Commercial Property — Salinas, CA 93906, Salinas, CA

$4,199,000

Salinas, CA 93906, Salinas, CA

$4,199,000 — Salinas, CA 93906, Salinas, CA — photo 1 $4,199,000 — Salinas, CA 93906, Salinas, CA — photo 2 $4,199,000 — Salinas, CA 93906, Salinas, CA — photo 3 $4,199,000 — Salinas, CA 93906, Salinas, CA — photo 4 $4,199,000 — Salinas, CA 93906, Salinas, CA — photo 5
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About this property

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.

Property details

Square feet
12,457
Year built
1983
Property type
CommercialSale

Location

Salinas, CA 93906 • Salinas, CA 93906

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Listed by

Hap Albers · Albers Real Estate Investment Company

Listing courtesy of Albers Real Estate Investment Company. Information deemed reliable but not guaranteed.

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