Rarely available Salinas 16-unit apartment complex. 9.64 GRM & a 6.31% cap rate with new Proposition 13 taxes. Unit mix is all 2-bed / 1 bath. Lots of positives: 1983 construction, most of the wood siding replaced in the last 3 years, deck replacement & repairs last 4 years, SB721 clearance, exterior repainted, complex-owned laundry equipment, and Jeld-Wen vinyl windows. Interiors have remodeled the kitchens, installed new lighting, fans, and flooring, and installed new bathroom fixtures. Most units have a private deck, enclosed patio, some of which are quite spacious. There are two offices - one for management and one for ownership. The North Salinas location is close to shopping, amenities, Costco, Target, Safeway, banks, and many restaurants. Easy access to Highway 101 and may employment centers.
Multi-familyProperty Type
1983Year Built
0.46 acresLot Size
$314Price/Sq.Ft.
1 garage spacesParking
Listed by Hap Albers•DRE #01006595• Albers Real Estate Investment Company
Contact: 408-893-6002
Bought with Hap Albers•DRE #01006595• Albers Real Estate Investment Company
Rarely available Salinas 16-unit apartment complex. 9.64 GRM & a 6.31% cap rate with new Proposition 13 taxes. Unit mix is all 2-bed / 1 bath. Lots of positives: 1983 construction, most of the wood siding replaced in the last 3 years, deck replacement & repairs last 4 years, SB721 clearance, exterior repainted, complex-owned laundry equipment, and Jeld-Wen vinyl windows. Interiors have remodeled the kitchens, installed new lighting, fans, and flooring, and installed new bathroom fixtures. Most units have a private deck, enclosed patio, some of which are quite spacious. There are two offices - one for management and one for ownership. The North Salinas location is close to shopping, amenities, Costco, Target, Safeway, banks, and many restaurants. Easy access to Highway 101 and may employment centers.
APPFOLIO #3
May 22, 2024
Rental Removed
$2,100
$0/sq ft
May 1, 2024
Price Changed
$2,100
$0/sq ft
Apr 10, 2024
Listed for Rent
$2,195
$0/sq ft
APPFOLIO #2
Apr 10, 2024
Rental Removed
$2,195
$0/sq ft
Mar 13, 2024
Listed for Rent
$2,195
$0/sq ft
APPFOLIO #1
Mar 13, 2024
Rental Removed
$2,295
$0/sq ft
Feb 23, 2024
Listed for Rent
$2,295
$0/sq ft
Dec 12, 2023
Rental Removed
$2,295
$0/sq ft
Dec 8, 2023
Listed for Rent
$2,295
$0/sq ft
Public Records
Mar 23, 1983
Sold
$90,000
$7/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$11,367 (+3.9%)
$190,179 + $714,286
$904,465
2024
$10,938 (+8.3%)
$186,450 + $700,281
$886,731
2023
$10,102 (+1.0%)
$182,795 + $686,550
$869,345
2022
$9,997 (+1.7%)
$179,211 + $673,089
$852,300
2021
$9,828 (+4.5%)
$175,698 + $659,892
$835,590
2020
$9,403 (+3.1%)
$172,253 + $646,953
$819,206
2019
$9,121 (−2.7%)
$170,487 + $640,320
$810,807
2018
$9,377 (−1.0%)
$167,145 + $627,765
$794,910
2017
$9,476 (+3.0%)
$160,655 + $603,389
$764,044
2016
$9,200 (+0.8%)
$160,655 + $603,389
$764,044
2015
$9,126 (+4.2%)
$157,505 + $591,558
$749,063
2014
$8,759 (+0.1%)
$152,102 + $571,260
$723,362
2013
$8,746 (+2.2%)
$152,102 + $571,260
$723,362
2012
$8,556 (+1.7%)
$151,415 + $568,679
$720,094
2011
$8,411 (+1.4%)
$148,447 + $569,529
$717,976
2010
$8,291 (+0.6%)
$145,537 + $546,598
$692,135
2009
$8,242 (+3.0%)
$144,450 + $542,513
$686,963
2008
$8,002
$144,794 + $543,802
$688,596
Public record
Public record
Zoning
Permits
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
0.56 Acres
Year renovated
—
Sq. Ft.
—
Year built
—
Style
Multi-Family (5+ Unit)
County
Monterey County
APN
253061027000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 14, 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
Nov 26, 2025 • Final
Plumbing
Replace a water heater.
Plumbing
Water heater
Oct 15, 2025 • Final
Residential
Replace all windows in multiple residential units.
Remodel
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.
Property details
Parking
Parking Information
Carport (Minimum): 14
Parking Description: Assigned Spaces, Attached Garage, Off-Street Parking, On Street
Garage Spaces: 1
Parking Spaces: 8
Interior
Room Information
Laundry Room, Office Area, Storage
Kitchen Description: Countertop (Formica), Dishwasher, Hood Over Range, Oven Range (Electric), Refrigerator(s)