11-Unit Apartment
For Sale
$1,900,000
W Market, Salinas, CA 93901
ResidentialIncome, Salinas, CA
Property Size5,853 SF
Lot Size0.13 Acres
Price / SF$324.62
Days on Market168
Property Features for W Market
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
HDR 8
Parking
20
Elementary school
SalinasCityElementary
High school
SalinasUnionHigh
Elementary school district
SalinasCityElementary
High school district
SalinasUnionHigh
Subdivision
SS
Standard status
Active
APN
207-011-020-000
Size
5,853 SF
Lot size
0.13 Acres
Utilities
Heating system
Electric (Heating)
Water source
Well
Building Details
Year built
1914
Roof type
Composition
Listing Agency:
Real Brokerage Technologies
(619) 663-8680
Listed By:
The C Group · License #70010221
(831) 601-8936
Added: May 7
Changed: Oct 21
Last Checked: Oct 21 at 9:06AM
MLS# ML82046180
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.
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Investment Insights
Based on property information with market context.
This 11-unit apartment property contains 5,853 square feet and sits on 0.1344 acres. Built in 1914, the building has electric heating and a composition roof. Water is supplied by a well, and the property is zoned HDR 8.
Located on W Market in Salinas, the property is within a city setting in Monterey County, California.
Located on W Market in Salinas, the property is within a city setting in Monterey County, California.
Key Highlights
- 11 residential units
- 5,853 square feet of building area on 0.1344 acres
- Built in 1914
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$94,160
Cap Rate
4.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,883,200
$1.9M
Cap Rate 7%
$1,345,143
$1.3M
Cap Rate 9%
$1,046,222
$1.0M
Market Conditions
NOI Build-Up for 5,853 SF
Gross rent
$175.6K $30.00/SF
− Vacancy
−$4.4K −$0.75/SF
EGI
$171.2K $29.25/SF
− OpEx
−$77.0K −$13.16/SF
NOI
$94.2K $16.09/SF
Area
Salinas, 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%
$1,883,200
Cap Rate 7%
$1,345,143
Cap Rate 9%
$1,046,222
Alternative Uses
Best Use
Apartment 5plus
$1.35M
$1.18M – $1.57M
NOI $94,160 @ 7.0% cap · market cap 4.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.84M
$1.61M – $2.15M
NOI $129,009 @ 7.0% cap · market cap 6.79%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
11
Residential units
Location Intelligence
Trade Area within ½ mile
338
Businesses Nearby
Explore this area
Business Placement
Demographics for 93901, CA
29,700
Population
11,328
Households
2.6
Avg Household Size
37
Median Age
29%
College-Educated
81%
High-School Grad
9.6 sq mi
ZIP Area
3,094
Density / Sq Mi
$91,639
Median Household Income
$47,620
Median Earnings
$1,792
Median Rent
$721,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - An established rental property with HDR 8 zoning and electric heating.
Where is this apartment building located?
The property is located at W Market Salinas, CA.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: 11 residential units; 5,853 square feet of building area on 0.1344 acres; Built in 1914
