$925,000
SOLD DEC 12, 2024
6 Beds
3 Baths
2,448 Sq Ft
8,551 Sq Ft Lot

Recently Sold

$378 Per Sq Ft

1% Below List Price

21 Days on Market

About This Home

As of December 2024

PLEASE do not go onto the property without an appt! Looking for an opportunity of a lifetime? Then stop looking because this is the property for you! 1267 Cherokee Dr is located here in North Salinas CA. This triplex offers - 3 single level apartments, approx. 795sf each unit - a community laundry room with coin operated washer and dryers that brings in extra income. - and 6 assessable parking spaces for off-street parking. The individual units offer 2 oversized bedrooms and 1 full bathroom, galley style kitchen and large spacious living room. The opportunities are endless! - they would make a good investment to add to your portfolio - live in one and rent the others to help make your mortgage payment! - or would make a great family compound Each property would be purchased separately Located in the heart of north Salinas, with quick access to Hwy 101, near all major shopping centers and public transportation makes it a good place to put down some roots! You won't want to let this opportunity pass you by!

Last Agent to Sell the Property

Chantel Henson

Compass License #01271580 Listed on: 11/05/2024

Compass

Co-Listed By

Betty Stringer

Compass License #02042438

Compass

Last Buyer's Agent

Betty Stringer

Compass License #02042438

Compass

Property Details

Home Type

  • Multi-Family

Year Built

  • 1976

Home Design

  • Triplex
  • Slab Foundation
  • Composition Roof

Interior Spaces

  • 2,448 Sq Ft Home
  • 1-Story Property

Parking

  • On-Street Parking
  • Assigned Parking

Additional Features

  • 8,551 Sq Ft Lot
  • Wall Furnace

Listing and Financial Details

  • Total Actual Rent $64,200

Community Details

Overview

Amenities

  • Coin Laundry

Building Details

  • 3 Leased Units
  • Gardener Expense $1,015
  • Insurance Expense $10,472
  • Maintenance Expense $1,900
  • Manager Expense $6,620
  • Other Expense $310
  • Utility Expense $5,509
  • Operating Expense $28,116
  • Gross Income $64,200

Property Details

Home Type

Multi-Family

Year Built

1976

Lot Details

0

Listing Details

  • Zoning: R-M-2.9
  • Subclass: Triplex
  • Age: 48
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 2448
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1976

Interior Features

  • Living Sq Ft: 2448
  • Stories: 1
  • Laundry: Coin Operated

Exterior Features

  • Foundation: Concrete Slab
  • Roof: Composition

Garage/Parking

  • Garage Parking Features: Assigned Spaces, On Street

Utilities

  • Heating System: Wall Furnace
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Salinas Union High

Lot Info

  • Lot Acres: 0.1963
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 8550.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 8550.00

Rental Info

  • Existing Lease Term(s): Month To Month
  • Gross Rent Multiplier: 14.63
  • Number Of Leased: 3

Multi Family

  • Utilities: Public Utilities
  • Expense Insurance: 10472
  • Expense Landscape: 1015
  • Expense Maintenance: 1900
  • Expense Management: 6620
  • Expenses Other: 310
  • Expenses Total: 28116
  • Expenses Utility: 5509
  • Income Annual Gross: 64200.00
  • Income Annual Rental: 64200
  • Income Gross Scheduled: 64200
  • Income Includes: Coin Operated Equip, Laundry, Parking, Rents
  • Meters: Separate Electric, Separate Gas
  • Number Of Buildings: 1
  • Operating Expenses Include: Services - Sewer, Services - Trash Removal, Utilities - Water
  • Tenant Expenses: Utilities - Electric, Utilities - Gas

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price Change Sq Ft Price
12/12/2024 12/12/24 Sold $925,000 -1.5% $378 / Sq Ft
11/26/2024 11/26/24 Pending -- -- --
11/05/2024 11/05/24 For Sale $939,000 -- $384 / Sq Ft
Source: MLSListings

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

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Map

Source: MLSListings

MLS Number: ML81984852

MLSListings