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612 Central Ave - Multi Unit Income Property 2 Unit Apartment Building Offered at $809,000 at a 4.50% Cap Rate Salinas, CA 93901
Investment Highlights
- Well maintained units
- Separate electric meters and yards, private entrance for studio apartment
- Possible to build additional ADU units in back
- Front unit will be delivered vacant by 4-30-26
Executive Summary
Price reduction to $809,000! Plus, owner is willing to credit Buyers up to $30,000 towards Buyers rate buy down and/or closing costs. Great opportunity to own this duplex in South Salinas. 2 units: Front unit is a 2 bedroom 1 bath house, second unit located in the rear and is a spacious studio apartment with 1 bath. Studio has its own private entrance and fenced rear yard area. Separate electric meters. Each unit has their own washer & dryer machines. Home used to be considered 3 bed, 2 bath. New TPO roof, exterior painting, & vinyl windows installed in September 2023. Possibility to build additional detached ADU unit in back. Close to Hartnell Community College, shopping, schools, grocery, banks, Salinas Valley Health Medical Center, Salinas City Center- Downtown, hwy 183, hwy 101, and hwy 68. Front unit now vacant.
Financial Summary (Pro Forma - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$52,800
|
$43.64
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$52,800
|
$43.64
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$3,168
|
$2.62
|
| Net Operating Income |
$49,632
|
$41.02
|
Financial Summary (Pro Forma - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $52,800 |
| Annual Per SF | $43.64 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $52,800 |
| Annual Per SF | $43.64 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $3,168 |
| Annual Per SF | $2.62 |
| Net Operating Income | |
|---|---|
| Annual | $49,632 |
| Annual Per SF | $41.02 |
Property Facts
Amenities
Unit Amenities
- Fireplace
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,800 | 750 |
| Studios | 1 | $1,600 | 460 |
1 1
Fairly walkable
40/100
Moderately drivable
70/100
Limited public transit
20/100
Moderately bikeable
60/100
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Presented by
Steinbeck Realty, Inc.
612 Central Ave - Multi Unit Income Property
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