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.
For sale
$3,990,000
E Laurel Dr, Salinas, CA 93905
--beds
--baths
11,200sqft
Est.:
Five Or More Units
Built in 1978
-- sqft lot
$3,604,300 Zestimate®
$356/sqft
$-- HOA
What's special
Security lightsCatwalk repairs
- 163 days
- on Zillow |
- 122 |
- 1 |
Zillow last checked: 7 hours ago
Listing updated: June 09, 2025 at 11:08pm
Listed by:
Hap Albers 01006595 831-372-1922,
Albers Real Estate Investment Company
Source: MLSListings Inc,MLS#: ML81996974

Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Kitchen
- Features: Countertop_Formica, Countertop_Synthetic, ExhaustFan
Heating
- Gas, Wall Furnace
Cooling
- None
Appliances
- Included: Exhaust Fan, Electric Oven/Range, Washer/Dryer
- Laundry: Coin Operated
Features
- Flooring: Carpet, Laminate, Tile, Vinyl Linoleum
- Doors: None
Interior area
- Total structure area: 11,200
- Total interior livable area: 11,200 sqft
Property
Parking
- Total spaces: 18
- Parking features: Off Street
- Has carport: Yes
Accessibility
- Accessibility features: None
Lot
- Size: 0.33 Acres
- Features: Level
Details
- Parcel number: 004221062000
- Zoning: R H 2 1
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Five Or More Units
Materials
- Foundation: Slab
- Roof: Composition
Condition
- Year built: 1978
Utilities & green energy
- Gas: IndividualGasMeters
Community & HOA
Location
- Region: Salinas
Financial & listing details
- Price per square foot: $356/sqft
- Date on market: 3/7/2025
- Listing agreement: ExclusiveRightToSell
- Listing terms: CashorConventionalLoan
- Inclusions: OvenRangeAllUnits
- Lease term: Month To Month
- Loading
- Loading