Comm Ri Multi-units 5+ For Sale
9,720 Sqft - 1127 Laurel Drive, SALINAS, California 93905
Property Description
DO NOT DISTURB TENANTS. Multi Family investment opportunity for your RE portfolio, this 14 unit apartment building features twelve two-bedroom/one-bath units and (one) one-bedroom/one bath unit, plus a one studio apartment. Built in 1965 , the property offers building square footage of 9,720 square feet with lot size of 17,625 square feet. All units are Month to Month tenancy and are at below market rents. Located in a high rental demand area and near shopping and schools. Building features newer double pane windows, updated roof, fourteen covered parking and seven additional uncovered parking stalls spaces, this building is well maintained and has the upside potential you’re looking for. 8% rent increase starting 1/1/2021. An additional 12 Units available in addition to these units for a total of 26 units.
Basic Details
Property Type : Comm Ri Multi-units 5+
Listing Type : For Sale
Listing ID : ML81741971
Price : $2,400,000
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 9,720 Sqft
Year Built : 1965
Lot Area : 0.40 Sqft
Features
Heating System : Gas
Roof : Composition Shingles
Address Map
Country : US
State : CA
County : Monterey
City : SALINAS
Zipcode : 93905
Street : Laurel Drive
Street Number : 1127
Floor Number : 0
Longitude : W122° 22' 54.3''
Latitude : N36° 40' 49.9''
MLS Addon
Office Name : Century 21 Showcase Realtors
Building Type : Other
Area : ES-68
Address : 1127 E Laurel Drive
Cross Street : Williams
Directions to Property : Hwy 101 to E. Laurel Drive
Address Direction : E
LA1User Code : MLL494779
LA1Agent First Name : Jesse
LA1Agent Last Name : Hernandez
Status Category : Sold
Tot # Parking Spaces : 5
Tot # of Units : 14
Zoning : cr
List $/SqFt : $0
Age : 54
Apx Lot Sq Ft : 17,625 Sqft
Type of Building : Apt Complex
Annual Taxes : $0
Total Deposits : $0
DISABLED FEATURES : Other
EQUIPMENT ADDITIONAL : Fire Alarm System
OPERATING EXPENSES : Insurance
TENANT PAYS : Electric, Water
WATER/SEWER : Water - Public, Sewer System - Public
Bus Sq Ft of Bldg : 0 Sqft
Other Loans (Y/N) : No
1st Loan Balance : $0
2nd Loan Balance : $0
Tot Other Loans : $0
Financial Data Verif(Y/N) : 4.89
Ann Act Gross Inc : $0
Gross Oper Actual Inc : $0
Listing Type : Excl Right
Listing Service : Full Service
Special Information : None
Original Price : $2,400,000
Sold Price : $1,900,000
Previous Price : $0
Sale $/SqFt : $0
Gross Oper Actual Inc : 0
Annual Gross Sched Inc : 117288
Net Oper Income : 117288
Annual Mgmt Exp : 0
Annual License Exp : 0
Annual Util Exp : 0
Other Ann Exp : 0
Tot Ann Oper Exp : 0
First Loan Payment : 0
First Balance : 0
Annual Insurance Exp : 0
INTERNET DISPLAY : 0
INTERNET SITES : 0
SA1Agent Type : 0
Gross Rent Multiplier : 20.46
Buyer Agent DRE Num. : 01890851
List Agent DRE Num. : 01736274
Filtered Address : 1127 E Laurel DR
LA1Agent License ID : 01736274
LA1Old Agent ID : 278781
LA1NRDS_ID : 180017474
SA1Agent First Name : Ross
SA1Agent Last Name : Ramsey
SA1Agent License ID : 01890851
SA1User Code : MLL5083111
SA1Old Agent ID : 384496
SA1NRDS_ID : 180019001
Annual Vacancy : 0
Gross Income : 0
Sale/Original $ : 0
Annual Exp Yr : 0
Sale $/SqFt : 0
1st - Yrs Remaining : 0
Sale/Last List $ : 0
Interest Rate : 0
Board ID : Datashare MLSListings
Assessors Parcel No : 004-221-029-000
Showing : See Confidential Remarks
SO1Office Abbreviation : MLL5017008
SO1Office Name : Ross Ramsey, Broker
LO1Main Office ID : 75305
LO1Board ID : 0
LO2Office Identifier : 0
LO2Main Office ID : 0
SO1Office Identifier : 88762
SO1Board ID : 0
SO2Office Identifier : 0
SO2Office Type : 0
VOW Include : Yes
VOW Address : Yes
VOW Comment : Yes
VOW AVM : Yes
Status Detail : 0
Search Price : 1900000
Address Search Number : 1127
Listing Agent : 275226
Listing Office : 75305
Co-List Agent : 0
Listing Office 2 : 0
Apprx Equity : 0
Buyer Agent 1 : 335239
Buying Office 1 : 88762
Co-Sell Agent : 0
Buying Office 2 : 0
Photo Count : 3
Input Date : 09/03/2019 06:55:36
Update Date : 06/08/2021 17:07:48
PhotoTimestamp : 06/08/2021 11:42:49
First Photo Add Timestamp : 17/02/2020 08:15:56
List Date : 09/03/2019
Expire Date :
Pending Date : 16/05/2021
Closing Date : 05/08/2021
Status Date : 05/08/2021
Price Date :
Off Market Date : 05/08/2021
Status : Sold
Dual Variable : No
HOA : No
City Transfer Tax : No
Off Market Status Date : 21/04/2021
LVT Date :
DOMLS : 881
Cumulative DOMLS : 881
Unit # 1 # of Bedrooms: 2
Unit # 1 Rent: 933
Unit # 2 # of Bedrooms: 1
Unit # 2 Rent: 933
Unit # 3 # of Bedrooms: 1
