This property is located in an Opportunity Zone. Please research Opportunity Zones. This property features 5-two bedroom units in South Salinas near Old Town. Rents are low ($1010 average). Market rents are $1400 to $1725+ per month. GRM at $1600 rents is 10.24. Cap Rate at $1600 rents is 6.95%. There is a lot of potential rent upside. The complex had a fire in 1999 or 2000 and was extensively remodeled with new roof, vinyl windows, plumbing, electrical, and interior improvements. The large units show well with laminate flooring. Units 2 & 3 have new bathroom floors. Three units have new bathtub/shower enclosures. Tenants can easily walk to downtown Salinas with its restaurants, nightlife, shopping, Taylor Farms, and services. The property is a short walk to many Monterey County offices and the City of Salinas. South Salinas schools.
Countertop - Formica, Oven Range - Electric, Refrigerator
Laminate, Tile, Vinyl / Linoleum
Heating and Cooling
Gas, Wall Furnace
Carport, Off-Street Parking, On Street
Courtesy of Hap Albers, Albers Real Estate Investment Company
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This content last updated on 7/16/2019 11:47 AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Home Value History for 235 Soledad ST Salinas, CA 93901