Investment opportunity featuring five apartment units across two separate two-story buildings at 1015 N Sanborn Rd, Salinas, CA 93905. Do not disturb occupants. The property offers a strong bedroom mix four spacious 4-bedroom units plus one smaller 2-bedroom / 1-bathroom unit, giving the new owner in-place income with a clear path to improve operations and finishes over time. Each building is two stories, with abundant off-street parking on site. One building already has a new roof and sprinklers. There is a laundry room with hookups in place and ready to be connected, subject to buyer investigation and local requirements. The property sits along a primary East Salinas corridor with nearby schools, parks, and transit. The asset offers a clear value-add path through rent upside and interior modernization. Current rents and any future increases are subject to applicable City of Salinas rent regulations and should be independently verified by the buyer. A solid investment opportunity offering large-bedroom unit mix, existing rental income, and future value-add potential on North Sanborn Road.
Multi-familyProperty Type
1953Year Built
0.33 acresLot Size
$260Price/Sq.Ft.
Listed by James Kendall•DRE #02010395• Baird Partnership, Inc.
East Salinas, located between Natividad Creek Park and Oldtown Salinas, is a residential and working-class Salinas neighborhood with a grid of low-slung homes and a strong street-market rhythm. The neighborhood’s character concentrates around E Alisal St and N Sanborn Rd, where panaderías, taquerías, produce markets, and storefront murals set a busy, everyday cadence. Sherwood Gardens Shopping Center, Maya Cinemas Salinas, and the National Steinbeck Center act as familiar community pillars nearby. Housing leans toward mid-century single-story ranches and compact bungalows with front yards and mature shade trees. Natividad Creek Park and nearby greenways add walking paths and open fields. The setting stays closely tied to the Salinas Valley’s agricultural landscape and the city’s downtown arts corridor.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Multifamily property with five total units
Cap rate 5.26%
Bedrooms
Unit 1: 4 bedrooms
Unit 2: 4 bedrooms
Unit 3: 2 bedrooms
Unit 4: 4 bedrooms
One additional unit (bedroom count not specified)
Heating & cooling
Heating present
Exterior features
Lot approximately 14,160 square feet
Home design
Built in 1953
Commercial residential multifamily (5+ units)
Parking
14 total parking spaces
Financial info
Annual tax listed (amount withheld from feature extraction)
Electricity and solar
View estimated energy costs and solar savings for this home
bridgeMLS, Bay East AOR, or Contra Costa AOR #ML82062199
Sep 22, 2026
Listed
$1,398,000
$260/sq ft
Public Records
Apr 30, 1985
Sold
$27,000
$5/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$7,505 (−2.7%)
$172,437 + $423,080
$595,517
2024
$7,715 (+1.9%)
$169,056 + $414,785
$583,841
2023
$7,574 (+11.0%)
$165,742 + $406,652
$572,394
2022
$6,822
$162,493 + $398,679
$561,172
2021
$6,826 (+1.1%)
$159,307 + $390,862
$550,169
2020
$6,752 (−3.1%)
$156,184 + $383,199
$539,383
2019
$6,965 (+6.0%)
$154,583 + $379,270
$533,853
2018
$6,570 (−3.6%)
$151,552 + $371,834
$523,386
2017
$6,819 (+5.4%)
$145,668 + $357,397
$503,065
2016
$6,471 (+1.0%)
$145,668 + $357,397
$503,065
2015
$6,410 (+3.7%)
$142,812 + $350,390
$493,202
2014
$6,179 (−1.2%)
$137,912 + $338,367
$476,279
2013
$6,252 (+1.7%)
$137,912 + $338,367
$476,279
2012
$6,146 (+4.4%)
$137,289 + $336,838
$474,127
2011
$5,886 (+0.2%)
$134,598 + $330,234
$464,832
2010
$5,874 (−2.2%)
$131,959 + $323,759
$455,718
2009
$6,003 (+13.8%)
$130,973 + $321,340
$452,313
2008
$5,275
$131,285 + $322,104
$453,389
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
0.33 Acres
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Multi-Family (5+ Unit)
County
Monterey County
APN
004383061000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 22, 2026.
R-H-2.1
Residential High Density Districts
The purpose of the residential high density (RH) district regulations is to: Provide appropriately located areas for high density and multifamily dwellings consistent with the general plan and with standards of public health and safety established by the Municipal Code; Provide adequate light, air, privacy, and open space for each dwelling unit and protect residents from the harmful effects of excessive noise, inappropriate population density, traffic congestion, and other adverse environmental impacts; Promote development of affordable housing, housing for qualifying residents, and day care facilities by providing a density bonus for projects, which meet state and/or city density bonus requirements; Achieve design compatibility through the use of site development regulations and design standards; Protect adjoining low and medium density residential districts from excessive noise or loss of sun, light, quiet, and privacy resulting from proximity to multifamily dwellings; Provide sites for public and semipublic land uses needed to complement residential development or requiring a residential environment; Ensure the provision of public services and facilities needed to accommodate planned population densities; Encourage attractive and interesting residential streetscapes and high density developments that are pedestrian-oriented and reflect traditional residential design principles; and Promote safe residential neighborhoods through the incorporation of crime prevention through environmental design (CPTED) features in dwelling and site design; To provide for high density multifamily dwelling units where the minimum density is more than 15 du per net acre and the maximum density is not more than 24 du per net acre without density bonus.
Permitted uses
Include but are not limited to:
Housing-Senior
Oct 30, 2025 • Final
Reroof
Remove and replace composition shingles on a residential building.
Roofing
Oct 2, 2003 • Final
Electrical
Install new electrical service meters and add electrical service connections.
Electrical
Electric meter
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
6 days above 83° expected this year, 12 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
6/10 Air Factor
9 unhealthy days expected this year, 9 days in 30 years
Provided by First Street
Historical weather
Salinas, CA • 93905
Average low and high temperatures (°F)
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54
67
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65
46
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Feb
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Sun exposure
In this area, properties receive around 11.3 hours in
June and 4.8 hours in December, placing it above the
U.S. average for solar exposure.
11.3 hrs
4.8 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 1015 N Sanborn Rd
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