Seven-Unit Two-Bedroom Apartment
1057 N Sanborn Road Salinas, CA 93905
1057 N Sanborn Road, Salinas, CA, 93905
$995,000
Pending
For Sale
$995,000
Pending
Seven separately metered two-bedroom units, with new electrical panels throughout and one building recently re-roofed.
Property Size4,000 SF
Days on Market23
Property Features for 1057 N Sanborn Road
General Information
- Standard status
- Pending
- Size
- 4,000 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1950
Listing agency
First City Real Estate, Inc.
(831) 596-7618
Listed by
Geary Engles · License #00874135
(831) 596-7618
Source
Exitrealty
Added: Jun 30 Updated: Jul 22 at 6:06PM Checked: Jul 22 at 6:06PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of First City Real Estate, Inc.
Investment Insights
Based on property information with market context.
The property consists of seven two-bedroom apartment units, offered with potential for upgrades and renovation. All units are separately metered for gas and electricity, and the units have been retrofitted with new electrical panels. One building has recently been re-roofed.
The asset is located at 1057 N Sanborn Road in Salinas, California.
This multifamily layout provides multiple independently metered units with recent electrical improvements and at least one recent roof replacement.
The asset is located at 1057 N Sanborn Road in Salinas, California.
This multifamily layout provides multiple independently metered units with recent electrical improvements and at least one recent roof replacement.
Key Highlights
- Seven 2‑bedroom units in a multi‑family property (year built 1950)
- Units are separately metered for gas and electricity
- New electrical panels installed for all units
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $120.0k | $30.00 |
| − Vacancy | −$3.0k | −$0.75 |
| EGI | $117.0k | $29.25 |
| − OpEx | −$52.7k | −$13.16 |
| NOI | $64.4k | $16.09 |
4,000 SF · lease $30.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$919.3K
$804.4K – $1.07M
NOI $64,350 @ 7.0% cap · market cap 6.47%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.47M
NOI $88,166 @ 7.0% cap · market cap 8.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Seven separately metered two-bedroom units, with new electrical panels throughout and one building recently re-roofed.
Where is this apartment building located?
The property is located at 1057 N Sanborn Road Salinas, CA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Seven 2‑bedroom units in a multi‑family property (year built 1950); Units are separately metered for gas and electricity; New electrical panels installed for all units
