Pro Forma CAP rate 6.13%, existing rent are low. Potential to Add up to Additional Units per owner! Development Potential – Property consists of 4 APN#’s for a total of 1.56 acres. One block to Downtown Castroville, Mass Transit, Restaurants, Schools, Medical and Shopping are close by. Owner currently rents 20 units between one 12,500 sf and one 9,000 sf building plus outdoor storage. According to the 2015-2023 County of Monterey Housing Element Update, APN 030-141-025 is listed as an underutilized site, with potential for 46 units on all 4 parcels (030-141-025,027,034,035). In the Castroville Community Plan VOLUME I, the property is listed Mixed-use (MU-C). The Mixed-use designation provides for residential development on the same site or in the same building as commercial uses. Residential uses will generally be high density multi-family product type including flats, condos, and townhomes. Tax Credit project a plus. Max du/ac: 30, Min du/ac: 15, Max FAR 1.5:1.