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Listed by Hap Albers • Albers Real Estate Investment Company
Bought with Will Silva • Legacy R.E.Group. Inc.-Monterey
Bought with Will Silva • Legacy R.E.Group. Inc.-Monterey
$ 3,550,000
$ 3,990,000 11.0%
Est. payment | /mo
11,200 SqFt
$ 3,550,000
$ 3,990,000 11.0%
Est. payment | /mo
11,200 SqFt
Key Details
Sold Price $3,550,000
Property Type Commercial
Sub Type Other
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
HOA Y/N No
Year Built 1978
Lot Size 0.334 Acres
Property Sub-Type Other
Source Datashare MLSListings
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
Interior
Heating Natural Gas, Wall Furnace
Cooling None
Flooring Laminate, Tile
Fireplace No
Appliance Refrigerator
Laundry Coin Operated
Building
Lot Description Level
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Melanie Peterson-Katz
Partner | Lic# 00890767