Bought with Will Silva • Legacy R.E.Group. Inc.-Monterey
$3,550,000
$3,990,000
11.0%For more information regarding the value of a property, please contact us for a free consultation.
2 Beds
1 Bath
11,200 SqFt
SOLD DATE : 11/14/2025
Key Details
Sold Price $3,550,000
Property Type Commercial
Sub Type Five or More Units
Listing Status Sold
Purchase Type For Sale
Square Footage 11,200 sqft
Price per Sqft $316
MLS Listing ID ML81996974
Sold Date 11/14/25
Bedrooms 2
Full Baths 1
Year Built 1978
Lot Size 0.334 Acres
Property Sub-Type Five or More Units
Property Description
This 14-unit apartment complex delivers many investor positives which will increase your investment return. The unit mix features all two-bedroom / one-bathroom units with a $2,100 monthly average rent. Market rents are $2200 plus. Capital improvements include: new asphalt comp roof 2018, exterior painting 2018, catwalk repairs, new stainless steel stairs and handrails, security lights, complete main electric panel replacement, and individual unit water shutoff valves. Interior capital improvements include 12 remodeled units with new kitchens, appliances, flooring, and bathrooms. These capex items will reduce potential insurance premium increases, improvement requirements, and future capital investment. Exterior maintenance is minimal. The complex also has 18 off-street parking spaces.
Location
State CA
County Monterey
Area Es-68
Zoning R H 2 1
Rooms
Other Rooms Laundry Room, Storage
Kitchen Countertop - Formica, Countertop - Synthetic, Exhaust Fan, Oven Range - Electric, Refrigerator
Interior
Heating Gas, Wall Furnace
Cooling None
Flooring Carpet, Laminate, Tile, Vinyl / Linoleum
Laundry Coin Operated, Washer / Dryer
Exterior
Exterior Feature Low Maintenance
Parking Features Off-Street Parking, Uncovered Parking
Utilities Available Individual Electric Meters, Individual Gas Meters
Roof Type Composition
Building
Lot Description Grade - Level
Foundation Concrete Slab
Sewer Sewer Connected
Water Private / Mutual
Others
Restrictions None
Tax ID 004-221-062-000
Security Features None
Special Listing Condition Not Applicable
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