Salinas, CA 93905,501 Fremont ST
Salinas, CA 93905,501 Fremont ST
Salinas, CA 93905,501 Fremont ST
Salinas, CA 93905,501 Fremont ST
Salinas, CA 93905,501 Fremont ST
Salinas, CA 93905,501 Fremont ST
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$1,750,000

$1,949,000

10.2%
Est.Price: ?

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Est. payment /mo

0.44 Acres Lot


SOLD DATE : 06/18/2024

Key Details

Sold Price $1,750,000

Property Type Commercial

Listing Status Sold

Purchase Type For Sale

MLS Listing ID ML81957714

Sold Date 06/18/24

HOA Y/N No

Year Built 1950

Annual Tax Amount $22,258

Lot Size 0.441 Acres

Property Description

Eleven units in Salinas have significant potential rent upside. The two-bedroom units average $1311 monthly, and the two-bedroom market rents are estimated at $2200. The studio and one-bedroom units average $1158 monthly, and the studio / one-bedroom market rents are estimated at $1500. Potentially, there is $5,000+ per month in rental upside. There are three two-bedroom cottages, one four-plex building, and four cottages connected with covered carports. The asphalt parking lot was recently repaved. The units are separately metered for gas and electricity. The owner pays for water, sewer, and garbage. The complex is close to grocery markets, restaurants, Highway 101, and many employment centers.

Location

State CA

County Monterey

Area 699 - Not Defined

Zoning R-L-5.5 Residential Low D

Interior

Heating Wall Furnace

Cooling None

Fireplace No

Laundry None

Exterior

Carport Spaces 6

Roof Type Composition

Total Parking Spaces 5

Schools

School District Other

Others

Tax ID 004022014000

Financing Conventional

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Hap Albers • Albers Real Estate Investment Company
Bought with Miguel Amaya • Real Brokerage Technologies
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