NOT LISTED FOR SALE

108 Martella St Salinas, CA 93901

East Salinas Neighborhood

Estimated Value: $817,000 - $841,085

5 Beds
3 Baths
2,799 Sq Ft
$296/Sq Ft Est. Value

Last Sold May 03, 2021

Last sale price $690,000 $247 Per Sq Ft

Est. 22% increase in value since last sale

Current estimated payment $4,626/month

3 Days on Market

About This Home

As of May 2021

Great investment opportunity in south salinas! There is a duplex and a single family home on a large double lot. The duplex units are both 820 sqft and feature 2 bedrooms and 1 bath per unit and each have an attached single car garage. The duplex was built in 1945 and was remodeled in 2010. The single family home features 1 bedroom and 1 bathroom with an additional bonus room and basement downstairs. Units are fully occupied and there should be some upside with rents. This will be a solid return on your investment.

Last Agent to Sell the Property

Sean Griffin

Agency One Real Estate License #01466508 Listed on: 01/29/2021

Last Buyer's Agent

Juliang He

Advantage Financial Services License #01869380

Property Details

Home Type

  • Multi-Family

Year Built

  • 1945

Lot Details

  • 0.25

Parking

  • 2 Car Garage
  • Off-Site Parking

Home Design

  • Triplex
  • Tar and Gravel Roof
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 2,799 Sq Ft Home
  • 1-Story Property

Additional Features

  • 0.25 Acre Lot
  • Heating System Uses Gas

Listing and Financial Details

  • Total Actual Rent $57,024

Community Details

Overview

  • 2,799 Sq Ft Building

Building Details

  • 3 Leased Units
  • Insurance Expense $882
  • Maintenance Expense $1,500
  • Manager Expense $2,815
  • Utility Expense $985
  • Operating Expense $14,582
  • Gross Income $58,041

Property Details

Home Type

Multi-Family

Year Built

1945

Lot Details

0

Parking

2

Listing Details

  • Zoning: MDR
  • Subclass: Triplex
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2799
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1945

Interior Features

  • Living Sq Ft: 2799
  • Stories: 1

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition, Tar And Gravel

Garage/Parking

  • Garage Spaces: 2
  • Parking Spaces: 4
  • Garage Parking Features: Off-Site Parking

Utilities

  • Heating System: Gas
  • Sewer/Septic System: Sewer Connected

Lot Info

  • Lot Acres: 0.2536
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 11046.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 11046.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 12.06
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 882
  • Expense Maintenance: 1500
  • Expense Management: 2815
  • Expenses Total: 14582
  • Expenses Utility: 985
  • Income Annual Gross: 58041.00
  • Income Annual Rental: 57024
  • Income Gross Scheduled: 58041
  • Income Includes: Parking
  • Income Other: 1017
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 3
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Maintenance, Maintenance - Repair, Services - Sewer
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Water

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Feb 18, 2023
Sold by
Lau Johnny W and Lau Huyen Thanh
Bought by
Johnny Lau And Huyen Do Living Trust
Current Estimated Value
$843,200

Purchase Details

Listed on
Jan 29, 2021
Closed on
Apr 3, 2021
Sold by
Slama L Keith L and Slama Jannette
Bought by
Lau Johnny W and Do Huyen
Seller's Agent
Sean Griffin
Agency One Real Estate
Buyer's Agent
Juliang He
Advantage Financial Services
List Price
$700,000
Sold Price
$690,000
Premium/Discount to List
-$10,000
-1.43%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.97%
Original Mortgage
$330,000
Interest Rate
3%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 20, 2014
Sold by
Slama L Keith and Slama Jannette
Bought by
Slama Trust

Purchase Details

Closed on
Aug 3, 2009
Sold by
Us Bank National Association
Bought by
Slama L Keith and Slama Jannette

Purchase Details

Closed on
Aug 22, 2008
Sold by
Lopez Antonio Cobos
Bought by
Us Bank Na
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Johnny Lau And Huyen Do Living Trust -- --
Lau Johnny W $690,000 Chicago Title Company
Slama Trust -- None Available
Slama L Keith $150,000 Old Republic Title Company
Us Bank Na $293,250 Accommodation
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lau Johnny W $330,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/03/2021 05/03/21 Sold $690,000 -1.4% $247 / Sq Ft
02/02/2021 02/02/21 Pending -- -- --
01/29/2021 01/29/21 For Sale $700,000 -- $250 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $3,134 $270,606 $151,540 $119,066
2024 $3,134 $265,301 $148,569 $116,732
2023 $3,028 $260,100 $145,656 $114,444
2022 $2,914 $255,000 $142,800 $112,200
2021 $708 $250,000 $140,000 $110,000
2020 $689 $59,005 $23,601 $35,404
2019 $681 $57,849 $23,139 $34,710
2018 $670 $56,716 $22,686 $34,030
2017 $670 $55,605 $22,242 $33,363
2016 $670 $54,515 $21,806 $32,709
2015 $675 $53,697 $21,479 $32,218
2014 $633 $52,646 $21,059 $31,587
Source: Public Records

Agents Affiliated with this Home

  • Sean Griffin

    Seller's Agent in 2021

    Sean Griffin

    Agency One Real Estate

    (831) 262-1955

    4 in this area

    54 Total Sales

    Sean Griffin
    Section Image

  • J

    Buyer's Agent in 2021

    Juliang He

    Advantage Financial Services

    (831) 442-7580

    4 in this area

    11 Total Sales

    Juliang He
    Section Image
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Map

Source: MLSListings

MLS Number: ML81827695

MLSListings

APN: 003-141-021-000

California Monterey County Salinas 93901 East Salinas

108 Martella St, Salinas, CA

Not Listed for Sale

MultiFamily

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