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    Gardenia Dr Dr Salinas, CA 93906

    Sponsored
    For Sale
    $1,699,000

    Prime Salinas location, six-unit income property.

    Property size:
    4,930 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    337
    This exceptional investment opportunity presents a six-unit commercial complex ideally situated in North Salinas, conveniently close to the Fairgrounds. The property encompasses two buildings on a 0.24-acre lot, totaling 4,930 square feet. One building is a duplex featuring two one-bedroom units situated above a carport. The second building is a four-unit structure, with each unit offering two bedrooms and one and a half bathrooms. Nine of the units boast private fenced backyard patios, providing residents with outdoor space. An added convenience is the presence of an on-site laundry facility for tenants. The property is currently priced at $1,699,000. Significant improvements are planned, with both building roofs scheduled for complete replacement by the end of November, enhancing the long-term value and reducing future maintenance costs. The carport area presents a potential opportunity for the addition of Accessory Dwelling Units (ADUs), subject to local zoning regulations and permitting. This property offers a strong potential for rental income and appreciation, making it an attractive investment for discerning buyers seeking a well-maintained multi-unit complex in a desirable Salinas location.

    Property Features for Gardenia Dr Dr

    General Information

    Property type
    Other commercial real estate
    Square Feet
    4,930 SF
    Lot Size
    10,454 SF

    Building Details

    Year Built
    1974
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Salinas
    County
    Monterey
    State
    California
    Longitude
    -121.655
    Latitude
    36.69039

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    FAQs

    What type of property is this?
    Commercial real estate - Prime Salinas location, six-unit income property.
    Where is this commercial real estate located?
    The property is located at Gardenia Dr Dr Salinas, CA.
    What is the asking price?
    The asking price for this property is $1,699,000.
    (831) 372-1922
    Request Owner's contact information
    Gardenia Dr Dr Salinas, CA 93906
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    Salinas, CA 93906
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

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    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Gardenia Dr Dr Salinas, CA 93906
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