Two-Unit
For Sale
$750,000
1401 Grandhaven Street, Salinas, CA 93905
Front and rear residences offer distinct bedroom and bath configurations for flexible occupancy.
Property Size1,655 SF
Lot Size0.14 Acres
Price / SF$453.17
Days on Market73
Property Features for 1401 Grandhaven Street
General Information
Standard status
Active
Size
1,655 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1948
Listing Agency:
Aspire Homes
(408) 883-0471
Listed By:
Orlando Duarte · License #02090579
(408) 883-0471
Source:
Exitrealty
Added: Jun 21
Changed: Aug 30
Last Checked: Aug 31 at 2:37PM
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 Aspire Homes
Investment Insights
Based on property information with market context.
This duplex contains 1,655 square feet across two separate residences. The front unit includes two bedrooms and one bathroom, while the rear unit has one bedroom and one bathroom. The property was built in 1948 and occupies a 6,100-square-foot lot.
Located at 1401 Grandhaven Street in Salinas, the property is near schools, shopping, dining, and commuter routes. The two-unit layout supports separate residential occupancy within a single property.
Located at 1401 Grandhaven Street in Salinas, the property is near schools, shopping, dining, and commuter routes. The two-unit layout supports separate residential occupancy within a single property.
Key Highlights
- Two‑unit duplex at 1401 Grandhaven Street, Salinas, CA 93905
- Front unit includes 2 bedrooms and 1 bathroom
- Rear unit includes 1 bedroom and 1 bathroom
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
$28,907
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
3.85%
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%
$578,140
$578.1K
Cap Rate 7%
$412,957
$413.0K
Cap Rate 9%
$321,189
$321.2K
Market Conditions
NOI Build-Up for 1,655 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
$42.3K $25.56/SF
− Vacancy
−$1.0K −$0.61/SF
EGI
$41.3K $24.95/SF
− OpEx
−$12.4K −$7.49/SF
NOI
$28.9K $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%
$578,140
Cap Rate 7%
$412,957
Cap Rate 9%
$321,189
Alternative Uses
Best Use
Multifamily LT 5
$413.0K
$361.3K – $481.8K
NOI $28,907 @ 7.0% cap · market cap 3.85%
Second Best
Apartment 5plus
$380.4K
$332.8K – $443.8K
NOI $26,625 @ 7.0% cap · market cap 3.55%
Theoretical Best
Office A
$521.1K
$456.0K – $608.0K
NOI $36,479 @ 7.0% cap · market cap 4.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
414
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
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Frequently Asked Questions
What type of property is this?
Duplex - Front and rear residences offer distinct bedroom and bath configurations for flexible occupancy.
Where is this duplex located?
The property is located at 1401 Grandhaven Street Salinas, CA.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: Two‑unit duplex at 1401 Grandhaven Street, Salinas, CA 93905; Front unit includes 2 bedrooms and 1 bathroom; Rear unit includes 1 bedroom and 1 bathroom
