Building Details

Building Size 14,790 SF

Year Built 1964

Listing Agency: Coast & Valley Properties, Inc. Show Phone

Listed By: Amy M. Salmina · License #01494129 Show Phone

Source: Gotrealestatesolutions

Added: Oct 20 Changed: Nov 3 Last Checked: Nov 5 at 7:53AM

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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 Coast & Valley Properties, Inc.

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Investment Insights

Based on property information with market context.

This 17-unit apartment property in Castroville contains 2-bedroom, 1-bath units and measures 14,790 square feet. The buildings date to 1964, and newer roofs are noted. On-site amenities include coin-operated laundry and designated tenant parking.

Highway 1 and Highway 183 provide regional connections, with Salinas, Monterey, and Santa Cruz identified as employment hubs accessible from the property. The zoning is Multi-Family.

Key Highlights

• 17‑unit multifamily property in Castroville
• 14,790 square feet; built in 1964
• 2‑bedroom, 1‑bath unit configuration

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$237,934

Cap Rate

5.60%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,758,680 $4.8M

Cap Rate 7%

$3,399,057 $3.4M

Cap Rate 9%

$2,643,711 $2.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,790 SF

Gross rent

$443.7K $30.00/SF

− Vacancy

−$11.1K −$0.75/SF

EGI

$432.6K $29.25/SF

− OpEx

−$194.7K −$13.16/SF

NOI

$237.9K $16.09/SF

Area

Monterey County, CA

Vacancy

2.50%

Lease Rate

$30.00 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,758,680

Cap Rate 7%

$3,399,057

Cap Rate 9%

$2,643,711

Alternative Uses

Best Use

Apartment 5plus

$3.40M

$2.97M – $3.97M (±1% cap)

NOI $237,934 @ 7.0% cap · market cap 5.60%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$5.65M

$4.94M – $6.59M (±1% cap)

NOI $395,310 @ 7.0% cap · market cap 9.30%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

17

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

314

Businesses Nearby

Explore this area Business Placement

Demographics for 95012, CA

11,858

Population

2,652

Households

4.5

Avg Household Size

30

Median Age

8%

College-Educated

48%

High-School Grad

12.9 sq mi

ZIP Area

919

Density / Sq Mi

$79,903

Median Household Income

$31,250

Median Earnings

$1,499

Median Rent

$629,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Two-bedroom residences, on-site laundry, and designated tenant parking serve the property’s rental configuration.

Where is this apartment building located?

The property is located at 11320 Sanchez Street Castroville, CA.

What is the asking price?

The asking price for this property is $4,250,000.

What are key features of this property?

This property features: 17‑unit multifamily property in Castroville; 14,790 square feet; built in 1964; 2‑bedroom, 1‑bath unit configuration