Sanborn Cottages - LoopNet

Sanborn Cottages751 Sanborn Pl, Salinas, CA 93901

Barry ThrogmortonPeninsula Realty,Carmel By The Sea, CA [email protected](831) 402-6406

Price: $6,100,000

No. Units: 32

Property Type: Multifamily

Property Sub-type: Apartments

Apartment Style: Garden

Building Class: C

Sale Type: Investment

Cap Rate: 6.25%

Lot Size: 1.29 AC

Building Size: 16,400 SF

Sale Conditions: [object Object]

Gross Rent Multiplier: 9.9

No. Beds: 32

No. Stories: 1

Year Built: 1955

Sanborn Cottages$6,100,000

Sanborn Cottages is a 32 unit property in an isolatedlocation in Salinas. The owner has made extensiveimprovements to the exterior of the property whichincludes a recent replacement of all asphalt whileimproving drainage on the site. All the units have eitherbeen remodeled or refurbished....

Pricing based on current Rent Roll. Power & water aremaster metered and are paid by Landlord....

"Opportunity Zoned" Asset

Upgraded property allows for upside on market rents

Property appraised Jan 2018 in excess of current

asking. 100% ocupancy

Ample Parking, Isolated close to Highway 101

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Unit/Room Mix Information

Description No. Units Avg. Rent/Mo Sq. Ft

1+1 32 $1555 508

2+1 1 $1975 750

751 Sanborn Pl, Salinas, CA 93901

Sanborn Cottages is a 32 unit property in an isolated location in Salinas. The owner has made extensiveimprovements to the exterior of the property which includes a recent replacement of all asphalt while improvingdrainage on the site. All the units have either been remodeled or refurbished.

Property Photos

Remodeled Bath

Living/Kitchen

Property Photos

Kitchen remodel

Asphalt & Stripping

Property Photos

Covered Carport

Plat Map

Property Photos

Aerial

Aerial