Salinas, CA 93906
- $3,915,000
- Sold Price
- $3,915,000
- List Price
- $4,199,000
- Closing Date
- Aug 13, 2026
- Status
- CLOSED
- MLS#
- ML82047880
- Year Built
- 1983
- Lot Size
- 19,858
- Acres
- 0.46
- Days on Market
- 31
- 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
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Composition
- School District
- Other
- Attached Structure
- Detached
- Number Of Units Total
- 16
- Gross Scheduled Income
- $435,589
Listing courtesy of Listing Agent: Hap Albers (hap@albersrealestate.com) from Listing Office: Albers Real Estate Investment Company.
Listing sold by Hap Albers from Albers Real Estate Investment Company
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.