Two-Building
New
For Sale
$1,099,000
20 S Hebbron AVE, Salinas, CA 93905
Residential Income (2-4 units), SALINAS, CA
Property Size4,134 SF
Lot Size0.22 Acres
Price / SF$265.84
Days on Market3
Property Features for 20 S Hebbron AVE
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
CR
Bedrooms
12
Rooms
Bedroom 3, Bedroom 4, Bedroom 12, Bedroom 1, Bedroom 5, Bedroom 10, Bedroom 8, Bedroom 6, Bedroom 2, Bedroom 9, Bedroom 11, Bedroom 7
Parking features
Garage - Attached, On Street
Subdivision
ES-66
Standard status
Active
Size
4,134 SF
Lot size
0.22 Acres
Utilities
Heating system
Central, Forced Air
Water source
Public
Building Details
Year built
1965
Number of units
4
Roof type
Composition
Listing Agency:
Compass
(831) 318-0150
Listed By:
Chantel Henson · License #01271580
(831) 809-4100
Added: Aug 19
Changed: Aug 20
Last Checked: Aug 21 at 9:06AM
MLS# ML82057881
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex comprises four single-level three-bedroom units, each with one and one-half bathrooms, arranged in two separate buildings. Each structure contains two residences and measures approximately 2,160 square feet. The primary bedroom in every unit includes a large walk-in closet with an existing half bath; adding a shower may be possible, subject to buyer investigation, permits, and applicable requirements. The property includes attached garages, on-street parking, central forced-air heating, public water, and composition roofs. Built in 1965, the improvements require TLC and updating.
The property occupies approximately 0.2204 acres at 20 S Hebbron AVE in Salinas, California 93905 and is zoned CR. Current rents are below fair market value, while any future adjustments remain subject to applicable City of Salinas rent regulations and independent buyer verification.
The property occupies approximately 0.2204 acres at 20 S Hebbron AVE in Salinas, California 93905 and is zoned CR. Current rents are below fair market value, while any future adjustments remain subject to applicable City of Salinas rent regulations and independent buyer verification.
Key Highlights
- Four three‑bedroom, 1.5‑bath rental units across two separate buildings
- Approximately 2,160 square feet per building; total building area stated separately in source data is conflicting and omitted
- 0.2204‑acre property at 20 S Hebbron AVE, SALINAS, CA 93905
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
$72,205
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
6.57%
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%
$1,444,100
$1.4M
Cap Rate 7%
$1,031,500
$1.0M
Cap Rate 9%
$802,278
$802.3K
Market Conditions
NOI Build-Up for 4,134 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
$105.7K $25.56/SF
− Vacancy
−$2.5K −$0.61/SF
EGI
$103.2K $24.95/SF
− OpEx
−$30.9K −$7.49/SF
NOI
$72.2K $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%
$1,444,100
Cap Rate 7%
$1,031,500
Cap Rate 9%
$802,278
Alternative Uses
Best Use
Multifamily LT 5
$1.03M
$902.6K – $1.20M
NOI $72,205 @ 7.0% cap · market cap 6.57%
Second Best
Apartment 5plus
$950.1K
$831.3K – $1.11M
NOI $66,506 @ 7.0% cap · market cap 6.05%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,120 @ 7.0% cap · market cap 8.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
931
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?
Quadplex - Four single-level rental units offer spacious layouts, attached garages, and room for future updates.
Where is this quadplex located?
The property is located at 20 S Hebbron AVE Salinas, CA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Four three‑bedroom, 1.5‑bath rental units across two separate buildings; Approximately 2,160 square feet per building; total building area stated separately in source data is conflicting and omitted; 0.2204‑acre property at 20 S Hebbron AVE, SALINAS, CA 93905
