Rare opportunity to acquire a generationally held 22-unit apartment complex in Salinas, owned by the same family since its original construction. The property features a consistent unit mix of two-bedroom, one-bathroom residences that have been well maintained over the years. Comfortable and functional in their present condition, the interiors also offer opportunities for selective modernization as units become available, allowing new ownership to build upon a solid foundation and enhance long-term value. Parking includes 23 covered carport spaces and 13 additional open spaces. An on-site laundry facility offers added convenience for residents. With its substantial scale, desirable unit mix, the property presents a noteworthy long-term investment opportunity.
Multi-familyProperty Type
1974Year Built
0.66 acresLot Size
$231Price/Sq.Ft.
13 spacesParking
Listed by Chris Barre•DRE #01305789• Sotheby’s International Realty
Eastside, located between N Main Street and Natividad Creek Park, is a residential and working-class Salinas neighborhood with a grid of mid-century streets and a strong park-and-school backbone. The neighborhood’s energy concentrates around the N Main Street and E Laurel Drive corridor, where taquerias, panaderias, produce markets, and small storefronts set a steady, everyday rhythm. Housing leans toward compact single-story ranch homes, duplexes, and small apartment courts with practical yards and mature shade trees. Natividad Creek Park and its trail system shape the area’s outdoor routine with long, linear green space. Sherwood Park adds courts, fields, and a community-center feel. The National Steinbeck Center and the Fox Theater downtown anchor nearby culture and events.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Coin-operated laundry on-site
Security lights
Bedrooms
Units with 2 bedrooms (unit type listed)
Bathrooms
Units with 1 full bathroom (unit type listed)
Kitchen
Electric cooktop
Formica countertops
Range hood
Laundry & utility
Coin-operated laundry
Flooring
Carpet
Vinyl/linoleum
Heating & cooling
Wall furnace heating
Exterior features
Low-maintenance grounds
Level lot
Home design
Multi-building complex (6 buildings)
5+ unit subclass
Trust ownership
R-H zoning
Parking
13 parking spaces total
23 carport spaces (minimum)
Assigned and unassigned spaces
Covered and uncovered parking
No garage
Security
Security lights
Construction
Wood frame construction
Composition roof
Concrete slab foundation
Built as part of multiple buildings (6 total)
Utilities
Public water
Public sewer
Individual electric meters
Individual gas meters
Separate electric and gas meters per unit
Public utilities
Financial info
22 units in the complex
Annual rental income: $337,128
Annual gross income: $346,239
Gross scheduled income: $349,736
Other income: $12,608
Total expenses: $192,578
Other expenses: $4,733
Gross rent multiplier: 11.42
Vacancy factor: 1
Other
Tenant pays utilities for electric, gas, and heating
Meters: primary water, separate electric, separate gas
Trash expense: $25,000
Utility expenses: $48,841
Electricity and solar
View estimated energy costs and solar savings for this home
Rare opportunity to acquire a generationally held 22-unit apartment complex in Salinas, owned by the same family since its original construction. The property features a consistent unit mix of two-bedroom, one-bathroom residences that have been well maintained over the years. Comfortable and functional in their present condition, the interiors also offer opportunities for selective modernization as units become available, allowing new ownership to build upon a solid foundation and enhance long-term value. Parking includes 23 covered carport spaces and 13 additional open spaces. An on-site laundry facility offers added convenience for residents. With its substantial scale, desirable unit mix, the property presents a noteworthy long-term investment opportunity.
Public Records
Nov 24, 1978
Sold
$256,500
$15/sq ft
Public Records
Dec 9, 1977
Sold
$60,000
$3/sq ft
Public Records
Jun 10, 1975
Sold
$38,000
$2/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$18,903 (−2.7%)
$261,203 + $1,221,201
$1,482,404
2024
$19,426 (+1.9%)
$256,082 + $1,197,256
$1,453,338
2023
$19,073 (+10.9%)
$251,061 + $1,173,781
$1,424,842
2022
$17,192
$246,139 + $1,150,766
$1,396,905
2021
$17,199 (+1.1%)
$241,313 + $1,128,202
$1,369,515
2020
$17,013 (+12.0%)
$236,582 + $1,106,081
$1,342,663
2019
$15,191 (+6.0%)
$234,157 + $1,094,740
$1,328,897
2018
$14,337 (−3.6%)
$121,806 + $1,001,628
$1,123,434
2017
$14,876 (+5.3%)
$117,077 + $962,735
$1,079,812
2016
$14,123 (+0.9%)
$117,077 + $962,735
$1,079,812
2015
$14,003 (+3.6%)
$114,782 + $943,858
$1,058,640
2014
$13,510 (−0.9%)
$110,844 + $911,470
$1,022,314
2013
$13,639 (+1.7%)
$110,844 + $911,470
$1,022,314
2012
$13,408 (+4.4%)
$110,344 + $907,351
$1,017,695
2011
$12,849 (+0.2%)
$108,181 + $895,060
$1,003,241
2010
$12,823 (−2.1%)
$106,060 + $872,118
$978,178
2009
$13,102 (+13.6%)
$105,268 + $865,601
$970,869
2008
$11,529
$105,519 + $867,658
$973,177
Public record
Public record
Zoning
Permits
Beds
16
Baths
8
Stories
2
Lot width
—
Lot depth
—
Lot size
0.66 Acres
Year renovated
1974
Finished Sq. Ft.
5,760
Unfinished Sq. Ft.
—
Total Sq. Ft.
5,760
Year built
1974
Style
Multi-Family (5+ Unit)
County
Monterey County
APN
004222062000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 8, 2026.
R-H-2.1
AR
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.
Zone overlays
Airport Overlay District
Permitted uses
Include but are not limited to:
Housing-Senior
Apr 20, 2025 • Final
Encroachment
Perform emergency repairs on a waterline.
Plumbing
Aug 16, 2010 • Final
Plumbing
Replace a water heater in the utility room.
Plumbing
Water heater
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
3/10 Flood Factor
Estimated 11-17% chance 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)
64
43
66
46
70
48
66
49
67
52
68
55
67
55
72
57
74
58
74
54
67
48
65
46
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
70/ 100
Good sunlight
Sunscore
There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
8.1 hrs
4.5 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 608 N Sanborn Rd
There isn’t enough information to generate an accurate estimate at this time. Learn More