NOT LISTED FOR SALE
4 Beds
2 Baths
1,148 Sq Ft
5,101 Sq Ft Lot

Last Sold August 03, 2018

Last sale price $550,000 $479 Per Sq Ft

1 Day on Market

Highlights

  • Bungalow
  • Forced Air Heating System
  • 1-Story Property

About This Home

As of August 2018

Great opportunity to own two homes on one lot in South Salinas! Each home has been extensively remodeled in 2014 down to the studs to include new plumbing, new electrical, new tile flooring and carpet, new cabinets and countertops, new paint, new heating systems, and much more. Wood decks were built off the back of each unit to provide residence a great place to BBQ and relax while overlooking the lawn area. Close to downtown Salinas shops and restaurants and the National Steinbeck Center. This a perfect investment for someone looking for good cash flow with low maintenance or to live in one and rent the other. Tenants pay all utilities, trash and landscaping.

Last Agent to Sell the Property

Sean Griffin

KW Coastal Estates License #01466508 Listed on: 06/06/2018

KW Coastal Estates

Last Buyer's Agent

Mike Meza

Sotheby’s International Realty License #02007491

Sotheby’s International Realty

Property Details

Home Type

  • Multi-Family

Year Built

  • 1924

Lot Details

  • 5,101 Sq Ft Lot

Home Design

  • Duplex
  • Bungalow
  • Composition Roof
  • Concrete Perimeter Foundation

Interior Spaces

  • 1,148 Sq Ft Home
  • 1-Story Property
  • Fire and Smoke Detector
  • Washer and Dryer Hookup

Parking

  • 4 Parking Spaces
  • Covered Parking
  • Off-Site Parking

Utilities

  • Forced Air Heating System
  • Separate Meters
  • Individual Gas Meter

Listing and Financial Details

  • Total Actual Rent $36,000

Community Details

Overview

  • 1,148 Sq Ft Building

Building Details

  • 2 Leased Units
  • Insurance Expense $700
  • Maintenance Expense $750
  • Operating Expense $6,950
  • Gross Income $36,000

Property Details

Home Type

Multi-Family

Year Built

1924

Lot Details

0

Listing Details

  • Zoning: MDR
  • Subclass: Duplex
  • Style: Bungalow
  • Age: 94
  • Listing Class: Residential Income (2-4 Units)
  • Structure Sq Ft: 1148
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Year Built: 1924

Interior Features

  • Living Sq Ft: 1148
  • Stories: 1
  • Security: Fire Alarm
  • Laundry: Hookups Only

Exterior Features

  • Foundation: Concrete Perimeter
  • Roof: Composition

Garage/Parking

  • Parking Spaces: 4
  • Garage Parking Features: Common Parking Area, Off-Site Parking

Utilities

  • Heating System: Central Forced Air
  • Sewer/Septic System: Sewer - Public

Schools

  • School District: Salinas Union High

Lot Info

  • Lot Acres: 0.1171
  • Lot Size Area Minimum Units: Square Feet
  • Minimum Lot Size: 5100.00
  • Lot Size Area Maximum Units: Square Feet
  • Maximum Lot Size: 5100.00

Rental Info

  • Existing Lease Term(s): Less Than 1 Yr
  • Gross Rent Multiplier: 15.28
  • Number Of Leased: 2

Multi Family

  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Expense Insurance: 700
  • Expense Maintenance: 750
  • Expenses Total: 6950
  • Income Annual Gross: 36000.00
  • Income Annual Rental: 36000
  • Income Gross Scheduled: 36000
  • Meters: Separate Electric, Separate Gas, Separate Water
  • Number Of Buildings: 2
  • Operating Expenses Include: Fee - Property Tax, Maintenance
  • Tenant Expenses: Services - Gardener/Landscaping, Services - Sewer, Services - Trash Removal, Utilities - Electric, Utilities - Gas, Utilities - Heating, Utilities - Hot Water, Utilities - Water

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 List to Sale Price per Sq Ft
08/03/2018 08/03/18 Sold $550,000 0.0% $479 / Sq Ft
06/08/2018 06/08/18 Pending -- -- --
06/06/2018 06/06/18 For Sale $550,000 -- $479 / 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: ML81709002

MLSListings