1155 E Laurel Drive, Salinas, CA 93905

$3,990,000 Approx. USD 0 beds, 0 baths

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Marketed By The Keaty Team

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Agent Remarks

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.

Listing Details

Property type: (Commercial)

Status: Active

MLS# ML81996974

Price: $3,990,000

HOA Fee is $0.00

Built in 1978

0.33 acres

Lot size: 0.3337

County: Monterey

Zoning: R H 2 1

Lot description: Level