Quadplex with Spacious Three-Bedroom
New
For Sale
$1,099,000
20 S Hebbron AVE, Salinas, CA 93905
Residential Income (2-4 units), SALINAS, CA
Property Size4,134 SF
Lot Size0.22 Acres
Price / SF$265.84
Days on Market6
Property Features for 20 S Hebbron AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CR
Bedrooms
12
Rooms
Bedroom 11, Bedroom 8, Bedroom 6, Bedroom 10, Bedroom 3, Bedroom 5, Bedroom 2, Bedroom 12, Bedroom 1, Bedroom 4, Bedroom 7, Bedroom 9
Parking features
Garage - Attached, On Street
Subdivision
ES-66
Standard status
Active
Size
4,134 SF
Lot size
0.22 Acres
Utilities
Heating system
Central, Forced Air
Water source
Public
Building Details
Year built
1965
Number of units
4
Roof type
Composition
Listing Agency:
Compass
(831) 318-0150
Listed By:
Chantel Henson · License #01271580
(831) 809-4100
Added: Aug 19
Changed: Aug 21
Last Checked: Aug 24 at 12:06AM
MLS# ML82057881
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex contains four three-bedroom, 1.5-bath residences distributed between two separate buildings. Each home has a single-level layout, and the primary bedroom includes a large walk-in closet with an adjoining half bath. The property was built in 1965 and includes attached garage parking, on-street parking, public water service, forced-air and central heating, and a composition roof. The site encompasses 0.2204 acres and is zoned CR.
The units are currently rented, with rents identified as below fair market value in the property information. The buildings need some maintenance and updating. Any changes to the half baths, including a possible shower installation, require buyer review of permits and applicable local requirements. Future rent adjustments are subject to City of Salinas regulations.
The units are currently rented, with rents identified as below fair market value in the property information. The buildings need some maintenance and updating. Any changes to the half baths, including a possible shower installation, require buyer review of permits and applicable local requirements. Future rent adjustments are subject to City of Salinas regulations.
Key Highlights
- Four 3‑bedroom, 1.5‑bath units across two separate buildings
- Each building measures approximately 2,160 square feet and contains two units
- 0.2204‑acre site with CR zoning
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$72,205
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,444,100
$1.4M
Cap Rate 7%
$1,031,500
$1.0M
Cap Rate 9%
$802,278
$802.3K
Market Conditions
NOI Build-Up for 4,134 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$105.7K $25.56/SF
− Vacancy
−$2.5K −$0.61/SF
EGI
$103.2K $24.95/SF
− OpEx
−$30.9K −$7.49/SF
NOI
$72.2K $17.47/SF
Area
Salinas, CA
Vacancy
2.38%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,444,100
Cap Rate 7%
$1,031,500
Cap Rate 9%
$802,278
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.6K – $1.20M
NOI $72,205 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$950.1K
$831.3K – $1.11M
NOI $66,506 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,120 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
931
Businesses Nearby
Explore this area
Business Placement
Demographics for 93905, CA
64,209
Population
14,534
Households
4.4
Avg Household Size
29
Median Age
7%
College-Educated
45%
High-School Grad
9.2 sq mi
ZIP Area
6,979
Density / Sq Mi
$75,716
Median Household Income
$30,715
Median Earnings
$1,799
Median Rent
$570,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four single-level residences occupy two buildings with attached garages, public water, and central heating and cooling.
Where is this quadplex located?
The property is located at 20 S Hebbron AVE Salinas, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Four 3‑bedroom, 1.5‑bath units across two separate buildings; Each building measures approximately 2,160 square feet and contains two units; 0.2204‑acre site with CR zoning
