1155 E Laurel Drive, Salinas, CA 93905
- $3,550,000
- Sold Price
- $3,550,000
- List Price
- $3,990,000
- Closing Date
- Nov 14, 2025
- Status
- CLOSED
- MLS#
- ML81996974
- Year Built
- 1978
- Lot Size
- 14,536
- Acres
- 0.33
- Lot Location
- Level
- Days on Market
- 174
- Property Type
- Commercial
Property Description
This 14-unit apartment complex delivers many investor positives which will increase your investment return. The unit mix features all two-bedroom / one-bathroom units with a $2,100 monthly average rent. Market rents are $2200 plus. Capital improvements include: new asphalt comp roof 2018, exterior painting 2018, catwalk repairs, new stainless steel stairs and handrails, security lights, complete main electric panel replacement, and individual unit water shutoff valves. Interior capital improvements include 12 remodeled units with new kitchens, appliances, flooring, and bathrooms. These capex items will reduce potential insurance premium increases, improvement requirements, and future capital investment. Exterior maintenance is minimal. The complex also has 18 off-street parking spaces.
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Additional Information
- Taxes
- $52,868
- Heat
- Wall Furnace
- Cooling
- Yes
- Cooling Description
- None
- Roof
- Composition
- School District
- Other
- Attached Structure
- Detached
- Gross Scheduled Income
- $358,200
Listing courtesy of Listing Agent: Hap Albers (hap@albersrealestate.com) from Listing Office: Albers Real Estate Investment Company.
Listing sold by Will Silva from Legacy R.E.Group. Inc.-Monterey
Mortgage Calculator
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.