$3,860,000 Listed for $3,975,000

  • 19019 sqft
  • Commercial /Five or More Units
  • Closed Sale
ADDRESS NOT FOUND, Soledad, CA for sale.
ADDRESS NOT FOUND, Soledad, CA for sale.
Courtesy of Albers Real Estate Investment Company
The rental income for this 28 unit complex has a lot of potential upside with market rents $200 to $350 per unit above current in place rents. Proforma rents are potentially $405,000 as compared to the current rental income of $308,400. Seller has delivered rent increase notices effective February 1st, 2018, which will increase rental income to $28,900/$346,800 annually. Complex featuring 8 two bed / one bath units, 16 one bed / one bath units, and 4 studios. The one and two bedroom units have a fenced patio or a privacy deck. Soledad and the Salinas Valley has few currently available units on the rental market and lots of demand. The rental market has little new construction and the job market is growing because of the agriculture, wine, and marijuana industries in the Salinas Valley. The complex has asphalt pitched roofs, stucco exteriors, 34 off street parking spaces, and a onsite laundry room. Complex is well located near 101, schools, and services.
Last updated on 7/23/2018
Courtesy of Albers Real Estate Investment Company

More Details for 148 ENCINAL STREET

Property Class: Commercial Multi-Residential
Listing Status: Closed Sale
City: Soledad
State: CA
Zip: 93960
Area: 95 - Soledad
County: Monterey
Class: Commercial
Property Subtype: Five or More Units
Approx Lot Size: 0.689
REO/Bank Owned:No
Close Date: 3/15/2018
Property Sub Type Descr: Five or More Units
Parking Total:6.00
Living Area (SqFt): 19019 sqft
Lot Size Area Sq Feet: 30000.00
Lot Size Area Acres: 0.68871
Property Tax: $45,271
REO/ Bank Owned: No
Short Sale:N/A
Listing#: 81680921
Parcel Number: 022014014000
Year Built: 1977
List Date: 10/9/2017

Features for 148 ENCINAL STREET

Amenities: None
Foundation: Concrete Perimeter and Slab
Heating: Gas
Rooms Kitchen Description: Cooktop - Electric, Countertop - Formica, Oven - Electric, Oven Range - Electric
Cooling: None
Floors: Carpet, Tile
Laundry Room Descr: Coin Operated
Roof: Composition
Disability Features: Other
Garage Style: Off-Street Parking, On Street
Lot Desc: Grade - Level
Utilities Sewer: Sewer Connected

Documents for 148 ENCINAL STREET

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