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$4,395,000

Est. payment - /mo

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0.46 Acres Lot

New

75 N Hebbron AVE Salinas, CA 93905

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Chris Mardelli

chris@therealupside.com +1(310) 571-5761

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Key Details

Property Type Commercial

Listing Status Active

Purchase Type For Sale

MLS Listing ID ML82012531

HOA Y/N No

Year Built 1979

Annual Tax Amount $49,735

Lot Size 0.460 Acres

Property Description

This multifamily offering presents investors with a rare opportunity to acquire a well-located asset in the Salinas market characterized by exceptionally tight housing supply and robust long-term fundamentals. With current rents approximately 24.5% below market, the property offers significant upside potential through rent repositioning, management efficiency, or light value-add improvements. The property has received lots of upgrades in the past 4 years: 3 units have undergone major renovations, with 10 other units receiving varying levels of upgrades such as new kitchens, new tub and surround replacements (including plumbing), new kitchens with shaker cabinets, quartz countertops, etc. All electrical subpanels (18) and main electrical panels (3) have been replaced. The majority of roofing was replaced, plus new facia, gutters and downspouts. Siding replacement was done on the end unit kick-outs. The exterior received a full paint job. Most water heaters have been replaced in the last four years. Loan assumable at 3.58% interest rate with 3 years remaining. Current cap rate of 5.3% with pro forma cap rate of 8.73%!

Location

State CA

County Monterey

Area 699 - Not Defined

Zoning Multifamily

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Exterior

Carport Spaces 18

Roof Type Flat

Total Parking Spaces 6

Building

Water Public

Schools

School District Other

Others

Tax ID 004074048000

Special Listing Condition Standard

Listed by Alex Budka Redwood Property Company

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