1008 Beech StSalinas, CA 93905

Property Details for 1008 Beech St

Year built

1946

Construction

WOOD

Lot size

0.18 AC

Property size (Sq ft)

1,802 SF

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

004-292-001-000

APU

4292001000

Description

This exceptional investment opportunity presents a well-maintained five-unit multifamily property situated on a 0.18-acre lot at 1008 Beech Street in Salinas, California. The property comprises two buildings, offering a blend of residential and storage units. A fourplex building features four completely renovated one-bedroom, one-bathroom apartments, updated down to the studs in 2007. These units are known for their low maintenance and boast a history of long-term tenants, providing consistent rental income. The second building adds to the property's appeal with four sizable storage units situated below a spacious one-bedroom, one-bathroom apartment. This upper unit includes both a balcony and a porch, enhancing its desirability. The entire property is situated on a conveniently sized 0.18-acre lot, minimizing upkeep and maximizing efficiency. With a total of 2,402 square feet of space, this property offers a compelling combination of residential and storage rental income potential. Priced at $1,350,000, this Salinas multifamily property represents a strong investment opportunity for those seeking stable cash flow and long-term growth potential in a desirable California location. The existing long-term tenants contribute to a predictable and reliable income stream.

• CAP approach

  CAP return

  Valuation

  6%

  $669,136

  6.5%

  $617,664

  7%

  $573,545

• Comparable approach

  Method

  Valuation

  Relative Method

  $779,024

  Geo Method

  $779,024

• Alternative Use

  Use

  Valuation

  Residential

  $617,664

  Hospitality

  $565,777

  Educational

  $470,720

  Medical

  $486,908

  Retail

  $732,231

Location Insight

City

Salinas

County

Monterey

State

California

Latitude

36.6832

Longitude

-121.613

CBSA code

41500

CBSA name

SALINAS, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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