235 Soledad St, Salinas, CA 93901

$989,000
3,829
SqFt
List Price
$989,000
Closing Date
Oct 31, 2019
MLS#
ML81742326
Status
CONTINGENT
Sqft. of Residence
3,829
Lot Size
6,500
Listing Area
Ss
Year Built
1985

Property Description

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.

Additional Information

Acres
0.1492
Age
34
Cooling System
None
Floor Covering
Laminate, Tile, Vinyl / Linoleum
Foundation
Concrete Slab
Garage Parking
Carport, Off-Street Parking, On Street
Heating System
Gas, Wall Furnace
Laundry Facilities
Hookups Only
Living Area
3,829
Lot Size
6,500
Neighborhood
Ss
Other Utilities
Individual Electric Meters, Individual Gas Meters
Roof
Composition
Sewer
Sewer Connected
Zoning
R Medium Density

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
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Please consult a financial professional.
Calculator source: Real Geeks

Listing courtesy of Hap Albers from Albers Real Estate Investment Company

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