$3,550,000
$3,990,000
11.0%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 11/14/2025
Key Details
Sold Price $3,550,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID ML81996974
Sold Date 11/14/25
HOA Y/N No
Year Built 1978
Annual Tax Amount $52,868
Property Description
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.
Location
State CA
County Monterey
Area 699 - Not Defined
Zoning R H 2 1
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Composition
Total Parking Spaces 18
Building
Lot Description Level
Schools
School District Other
Others
Tax ID 004221062000
Financing Conventional
Special Listing Condition Standard
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Bought with Will Silva Legacy R.E.Group. Inc.-Monterey
"Molly's job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "