11-Unit Rental Apartment
1200 W Market Circle Salinas, CA 93901
1200 W Market Circle, Salinas, CA, 93901
$1,995,000
For Sale
$1,995,000
Apartment building with 11 rental units on a large lot, offering outdoor space and storage.
Property Size5,853 SF
Price / SF$340.85
Days on Market48
Property Features for 1200 W Market Circle
General Information
- Standard status
- Active
- Size
- 5,853 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1914
Listing agency
Real Brokerage Technologies
(619) 663-8680
Listed by
The C Group · License #70010221
Source
Exitrealty
Added: Jun 4 Updated: Jul 20 at 5:44PM Checked: Jul 21 at 5:18AM
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 Real Brokerage Technologies
Investment Insights
Based on property information with market context.
Located at 1200 W Market Circle in Salinas, this 11-unit rental apartment building sits on a large lot. The property offers generous outdoor space and ample room for storage, supporting day-to-day tenant needs.
The listing describes the site as providing flexibility for future value-add concepts and possible expansion. A buyer should verify development potential, unit count, rents, zoning, and all other property details as part of due diligence.
For investors and owner-operators seeking a multifamily asset with existing income units and a workable site layout, this property combines an established configuration with a large-lot setting intended to accommodate future possibilities.
The listing describes the site as providing flexibility for future value-add concepts and possible expansion. A buyer should verify development potential, unit count, rents, zoning, and all other property details as part of due diligence.
For investors and owner-operators seeking a multifamily asset with existing income units and a workable site layout, this property combines an established configuration with a large-lot setting intended to accommodate future possibilities.
Key Highlights
- 11‑unit rental apartment building built in 1914
- Large lot with outdoor space and ample storage
- Convenient Salinas location with close access to shopping, employment, dining, services, and commuter routes
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 | $175.6k | $30.00 |
| − Vacancy | −$4.4k | −$0.75 |
| EGI | $171.2k | $29.25 |
| − OpEx | −$77.0k | −$13.16 |
| NOI | $94.2k | $16.09 |
5,853 SF · lease $30.00/SF/yr · vacancy 2.50% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,160 @ 7.0% cap · market cap 4.72%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,009 @ 7.0% cap · market cap 6.47%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Bluerock View Apartments
Apartment Complex
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Apartment building with 11 rental units on a large lot, offering outdoor space and storage.
Where is this apartment building located?
The property is located at 1200 W Market Circle Salinas, CA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 11‑unit rental apartment building built in 1914; Large lot with outdoor space and ample storage; Convenient Salinas location with close access to shopping, employment, dining, services, and commuter routes
