157 Central Ave - Apartments FOR SALE


Salinas, CA 93901- Greater Salinas
$1,495,000 USD
831-238-3592
157 Central Ave, Salinas, CA for Sale
$1,495,000 USD
Apartments - FOR SALE
1/12
null | 6.25% Cap Rate

157 Central Ave
Salinas, CA 93901
Greater Salinas


OVERVIEW

Mahoney & Associates is pleased to present 157 Central Ave, an 8-unit apartment complex located in Downtown Salinas, adjacent to Hartnell College and Monterey County government offices. The property consists of six studio apartments within the two-story main building, along with two detached units: one one-bedroom/ one-bath unit and one three-bedroom/one-bath unit. The property has historically experienced very low tenant turnover, providing a stable and consistent rental history. The one-bedroom/one-bath unit can be delivered vacant at closing, offering an owner-user the opportunity to occupy the unit or an investor the flexibility to lease it at market rates.

FOR SALE DETAILS

PRICE

$1,495,000 USD

PRICE/SF

$434 USD /SF

# OF UNITS

8

PRICE/UNIT

$186,875

CAP RATE

6.25%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

8 Unit Multi-Family Investment Property

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1934

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

Commercial Office

APN/PARCEL ID

002-252-011-000

ASK ABOUT THIS PROPERTY

Patrick StaffordMahoney & AssociatesMore Info
831-238-3592

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Patrick StaffordMahoney & AssociatesMore Info
831-238-3592

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.