615 Terrace St, Salinas, CA, 93905
Property Details
5
3
multi family
Description
Multi Family in Salinas, CA - Bedrooms: 5 - Bathrooms: 3 - Area: 1607 sqft - Year Built: 1951 - Lot: 5674 sqft
Listing Agent: Sean Griffin Brokerage: Agency One Real Estate
Great opportunity to own a fully rented triplex in east salinas! The front unit is a mostly remodeled 2 bedroom 1 bath unit with updated flooring, kitchen cabinets and countertops. The back unit is a 2 bedroom 1 bath with tile flooring and open floor plan with a small fenced backyard. The 3rd unit is a 1 bedroom 1 bathroom with tile flooring and storage shed in backyard. Rents are low for each unit and could easily be doubled over time, subject to Salinas rental ordinance. Owner covers trash, septic and water which potentially could be costs transferred to the tenants over time as well. There is plenty of room for improvements to be made that would reflect in an increase in equity position and cashflow for this property. Close proximity to shopping, restaurants, hwy 101 and local schools. This is truly a great investment opportunity for the right buyer!
Location
Address
615 Terrace St, Salinas, CA, 93905
City
Salinas
Features and Finishes
Bedrooms: 5, Total Bathrooms: 3, Full Bathrooms: 3, Heating Features: Wall Furnace, Lot Size Acres: 0.1302571, Lot Size Source: Assessor, Lot Size Square Feet: 5674, Parking Features: Common Parking Area, Parking Total: 3, Number of Buildings: 2, Number of Units: 3, Bedrooms in Unit-1: 2, Bedrooms in Unit-2: 2, Bedrooms in Unit-3: 1, Total Bathrooms in Unit-1: 1, Total Bathrooms in Unit-2: 1, Total Bathrooms in Unit-3: 1, Full Bathrooms in Unit-1: 1, Full Bathrooms in Unit-2: 1, Full Bathrooms in Unit-3: 1, Unit-1 Square Feet: 725, Unit-2 Square Feet: 575, Unit-3 Square Feet: 307, Unit 1 Total Actual Rent: 1300, Unit 2 Total Actual Rent: 1100, Unit 3 Total Actual Rent: 950, Elementary School District: Salinas City Elementary, High School District: Salinas Union High, Gross Income: 39798, Gross Scheduled Income: 40200, Income Includes: Rents, Tenant Pays: Utilities - Electric, Utilities - Gas, Maintenance Expense: 500, Annual Tax Amount: 7750, Source Listing Status: Contingent, County:
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