OFF MARKET

Off Market Jul 2024 for $6.1M

—

Est. refi paymentEst. refi $37,701/mo

•

19,019

sq ft

148 Encinal St, Soledad, CA 93960

About this home

Piini Realty is pleased to present this offering of a 28-unit apartment complex located in Soledad. The complex is comprised of three separate buildings with a total of 28 dwelling units including eight 2-bedroom/1-bath units, sixteen 1-bedroom/1-bath units and four studios with an average size of 679 square feet per dwelling unit. Many of these units have been extensively remodeled within the past five years including new kitchens, new bathrooms, new heating units, remodeled balconies and much more. There are 34 on-site parking stalls with 7 enclosed garages, 19 covered carport stalls and 8 open parking stalls. The current owner occupies 17 units for employee housing, but these units can be delivered vacant and available to lease at current market rent. The remaining 11 units are leased to residents with rents that were increased on August 1, 2023. The property is a very well-maintained complex from the landscaping to building finishes and has enjoyed consistent rental demand with very little turnover.

Multi-familyProperty Type

1977Year Built

0.69 acresLot Size

$323Price/Sq.Ft.

6 garage spacesParking

Listed by Joe Piini •DRE #01889295 • Piini Realty

Contact: 831-422-5327

Bought with Narciso Lara •DRE #01763552 • Coast to Valley Realty

Redfin checked: 3 minutes ago

•Source:MLSListings #ML81952566

Redfin Estimate

There isn’t enough information to generate an accurate estimate at this time. Learn More

Market trends in 93960, CA

Last updated August 2026

Buyer's Market

Seller's Market

Seller's market

Sale-to-List Price

98.7%

+1.3% MoM

Median sale price

$615K

$65K MoM

Avg. days on market

16d

16 days MoM

Recently sold homes

3 MoM

New listings for sale

$754,999
4 beds2.5 baths1,911 sq ft
972 San Gabriel, Soledad, CA 93960
See all

Provided by Redfin

Sale history for 148 Encinal St

Date

Event

Price

MLSListings #ML81952566

Jul 25, 2024

Sold

$6,150,000

$323/sq ft

Apr 30, 2024

Contingent

—

Jan 26, 2024

Listed

$6,300,000

$331/sq ft

MLSListings #ML81680921

Mar 15, 2018

Sold

$3,860,000

$203/sq ft

Jan 8, 2018

Contingent

—

Oct 9, 2017

Listed

$3,975,000

$209/sq ft

The rental income for this 28 unit complex has a lot of potential upside with market rents $200 to $350 per unit above current in place rents. Proforma rents are potentially $405,000 as compared to the current rental income of $308,400. Seller has delivered rent increase notices effective February 1st, 2018, which will increase rental income to $28,900/$346,800 annually. Complex featuring 8 two bed / one bath units, 16 one bed / one bath units, and 4 studios. The one and two bedroom units have a fenced patio or a privacy deck. Soledad and the Salinas Valley has few currently available units on the rental market and lots of demand. The rental market has little new construction and the job market is growing because of the agriculture, wine, and marijuana industries in the Salinas Valley. The complex has asphalt pitched roofs, stucco exteriors, 34 off street parking spaces, and a onsite laundry room. Complex is well located near 101, schools, and services.

Public Records

May 6, 1980

Sold

$715,000

$38/sq ft

Year

Property tax

Land + Additions

Assessment*

2025

$80,016 (+44.0%)

$2,014,500 + $4,258,500

$6,273,000

2024

$55,556 (+10.3%)

$1,975,000 + $4,175,000

$6,150,000

2023

$50,353 (−1.4%)

$1,974,467 + $2,331,434

$4,305,901

2022

$51,086 (+3.4%)

$1,935,752 + $2,285,720

$4,221,472

2021

$49,409 (+1.6%)

$1,897,797 + $2,240,902

$4,138,699

2020

$48,638 (+2.2%)

$1,860,586 + $2,196,963

$4,057,549

2019

$47,570 (+180.0%)

$1,841,508 + $2,174,436

$4,015,944

2018

$16,989 (+3.5%)

$1,805,400 + $2,131,800

$3,937,200

2017

$16,410 (+4.6%)

$68,644 + $1,231,328

$1,299,972

2016

$15,692 (+1.4%)

$68,644 + $1,231,328

$1,299,972

2015

$15,476 (+0.4%)

$67,299 + $1,207,185

$1,274,484

2014

$15,418 (+5.2%)

$64,991 + $1,165,761

$1,230,752

2013

$14,658 (+5.8%)

$64,991 + $1,165,761

$1,230,752

2012

$13,851 (+0.5%)

$64,698 + $1,160,493

$1,225,191

2011

$13,780 (+0.7%)

$63,430 + $1,159,739

$1,223,169

2010

$13,688 (+1.4%)

$62,187 + $1,115,431

$1,177,618

2009

$13,505 (+3.2%)

$61,723 + $1,107,095

$1,168,818

2008

$13,092

$61,870 + $1,109,726

$1,171,596

Tax history for 148 Encinal St

Year

Property tax

Land + Additions

Assessment*

2025

$80,016 (+44.0%)

$2,014,500 + $4,258,500

$6,273,000

2024

$55,556 (+10.3%)

$1,975,000 + $4,175,000

$6,150,000

2023

$50,353 (−1.4%)

$1,974,467 + $2,331,434

$4,305,901

2022

$51,086 (+3.4%)

$1,935,752 + $2,285,720

$4,221,472

2021

$49,409 (+1.6%)

$1,897,797 + $2,240,902

$4,138,699

2020

$48,638 (+2.2%)

$1,860,586 + $2,196,963

$4,057,549

2019

$47,570 (+180.0%)

$1,841,508 + $2,174,436

$4,015,944

2018

$16,989 (+3.5%)

$1,805,400 + $2,131,800

$3,937,200

2017

$16,410 (+4.6%)

$68,644 + $1,231,328

$1,299,972

2016

$15,692 (+1.4%)

$68,644 + $1,231,328

$1,299,972

2015

$15,476 (+0.4%)

$67,299 + $1,207,185

$1,274,484

2014

$15,418 (+5.2%)

$64,991 + $1,165,761

$1,230,752

2013

$14,658 (+5.8%)

$64,991 + $1,165,761

$1,230,752

2012

$13,851 (+0.5%)

$64,698 + $1,160,493

$1,225,191

2011

$13,780 (+0.7%)

$63,430 + $1,159,739

$1,223,169

2010

$13,688 (+1.4%)

$62,187 + $1,115,431

$1,177,618

2009

$13,505 (+3.2%)

$61,723 + $1,107,095

$1,168,818

2008

$13,092

$61,870 + $1,109,726

$1,171,596

*Taxable value of land and structures on it ("additions") is determined regularly by local assessors and does not affect market price.

Public record

Public record
Zoning

Beds

Baths

Stories

Lot width

—

Lot depth

—

Lot size

0.69 Acres

Year renovated

1977

Sq. Ft.

19,019

Year built

1977

Style

Multi-Family (5+ Unit)

County

Monterey County

APN

022014014000

Parking Spaces

—

Basement

—

Accessible

—

HOA Dues

—

Garage

—

Features

—

Last updated by owner on Sep 8, 2026.

C-R

Commercial Residential District

The C-R district is intended to provide for both residential and light commercial activities within the downtown specific plan area and in neighborhood commercial zoning districts as an overlay zone. Mixed use residential-commercial may be considered, providing specific findings are made per Section 17.20.040(M).

Permitted uses

Include but are not limited to:

Housing-Multiple units
Housing-Other

Property details

Parking

Parking Information
Carport (Minimum): 19
Parking Description: Common Parking Area, Covered Parking, Guest/Visitor Parking, Private/Exclusive, Uncovered Parking
Garage Spaces: 6
Parking Spaces: 8

Interior

Room Information
Kitchen Description: Appliances (Varies by Unit), Microwave, Oven Range, Refrigerator(s), Varies by Unit

Heating & Cooling Information
Heating: Wall Furnace

Multi-Unit Information
# of Units in Complex (Minimum): 28
Annual Rental Income: $396,720
Annual Gross Income: $384,818
Gross Rent Multiplier: 15.88
Gross Scheduled Income: $396,720
Total Expenses: $183,968
Vacancy Factor: 3

Unit Type 1 Information
# of Bedrooms: 2
# of Units (Total): 8
# of Baths (Full): 1

Unit Type 2 Information
# of Bedrooms: 1
# of Units (Total): 16
# of Baths (Full): 1

Unit Type 3 Information
# of Units (Total): 4
# of Baths (Full): 1

Exterior

Exterior Features
View: Mountains, Valley
Roof: Composition

Building Information
# of Buildings: 3
Subclass: 5+ Units
Concrete Slab

Property Features
Living Sq. Ft.: 19,019

Property Information
Property Primary ID: 594554
Tenant Expenses: Utilities (Electric), Utilities (Gas)

Lot Information
Lot Acres: 0.6887
Lot Description: Grade (Level), Regular
Lot Size Area Minimum Units: Sq. Ft.
Lot Size Area Maximum Units: Sq. Ft.
Lot Size Source: Assessor
Zoning: R-3

Financial

Tax/Assessment Information
Annual Tax Amount: $69,300

Utilities

Utility Information
Meters: Primary Water, Separate Common Area, Separate Electric, Separate Gas
Sewer Septic: Sewer Connected
Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
Utility Expenses: $46,916

Water Information
Water: Public

Location

School Information
Elementary School District: Soledad Union Elementary
High School District: Soledad Unified

Public facts

Beds: 32
Baths: 28.0
Sq. Ft.: 19,019
Stories: 2.0
Lot Size: 0.69 acres
Style: Multi-Family (5+ Unit)
Year Built: 1977
Year Renovated: 1977
County: Monterey County
APN: 022014014000

Home facts updated by county records on Sep 8, 2026

Around this home

Schools

Gabilan Elementary School

Public K-6 • Assigned • 0.5mi

7/10

Main Street Middle School

Public 7-8 • Assigned • 0.2mi

2/10

Soledad High School

Public 9-12 • Assigned • 0.6mi

4/10

Provided by GreatSchools

Lifestyle

Provided by Walk Score and Local Logic

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

6/10 Heat Factor

6 days above 90° expected this year, 12 days in 30 years

1/10 Wind Factor

Minimal risk of severe winds over next 30 years

7/10 Air Factor

14 unhealthy days expected this year, 16 days in 30 years

Provided by First Street

Historical weather

Soledad, CA • 93960

Average low and high temperatures (°F)

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Sun exposure

In this area, properties receive around 11.4 hours in June and 4.7 hours in December, placing it above the U.S. average for solar exposure.

11.4 hrs

4.7 hrs

JuneDecember

Provided by Shadowmap

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Home values near 148 Encinal St

Data from public records.

Address	Redfin Estimate
136 Encinal St, Soledad, CA 2 Beds \| 2 Baths \| 1174 Sq. Ft.	$294,595
225 Encinal St, Soledad, CA 1 Beds \| 1 Baths \| 594 Sq. Ft.	$453,521

Address	Redfin Estimate
279 Encinal St, Soledad, CA 3 Beds \| 3 Baths \| 1596 Sq. Ft.	$614,999
261 Encinal St, Soledad, CA 2 Beds \| 1 Baths \| 536 Sq. Ft.	$517,684

Address	Redfin Estimate
285 Encinal St, Soledad, CA 1 Beds \| 1 Baths \| 572 Sq. Ft.	$357,064
260 Encinal St, Soledad, CA 2 Beds \| 1 Baths \| 666 Sq. Ft.	$396,153

Property information provided by MLSListings when last listed in 2024. This data may not match . Learn more.

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About this home

Redfin Estimate

Market trends in 93960, CA

Sale history for 148 Encinal St

Tax history for 148 Encinal St

Public record

Property details

Around this home

Schools

Lifestyle

Climate risks

Historical weather

Sun exposure

Is this your home?

Nearby similar homes

New listings for sale in 93960

Home values near 148 Encinal St

More real estate resources