Property Details
About this Property
This multifamily offering presents investors with a rare opportunity to acquire a well-located asset in the Salinas market characterized by exceptionally tight housing supply and robust long-term fundamentals. With current rents approximately 24.5% below market, the property offers significant upside potential through rent repositioning, management efficiency, or light value-add improvements. The property has received lots of upgrades in the past 4 years: 3 units have undergone major renovations, with 10 other units receiving varying levels of upgrades such as new kitchens, new tub and surround replacements (including plumbing), new kitchens with shaker cabinets, quartz countertops, etc. All electrical subpanels (18) and main electrical panels (3) have been replaced. The majority of roofing was replaced, plus new facia, gutters and downspouts. Siding replacement was done on the end unit kick-outs. The exterior received a full paint job. Most water heaters have been replaced in the last four years. Loan assumable at 3.58% interest rate with 3 years remaining. Current cap rate of 5.3% with pro forma cap rate of 8.73%!
MLS Listing Information
MLS #
ML82012531
MLS Source
MLSListings, Inc.
Days on Site
21
Interior Features
Cooling
None
Heating
Wall Furnace
Exterior Features
Roof
Flat
Foundation
Wood Frame
Parking, School, and Other Information
Garage/Parking
Assigned Spaces, Off-Street Parking, Garage: 0 Car(s)
Elementary District
Salinas City Elementary
High School District
Salinas Union High
Sewer
Public Sewer
Water
Public
Zoning
Multifamily
Contact Information
Listing Agent
Alex Budka
Redwood Property Company
License #: 01913403
Phone: (831) 275-5370
Co-Listing Agent
Joe Budka
License #: 01913402
Phone: (831) 224-6903
Unit Information
| # Buildings | # Leased Units | # Total Units |
|---|---|---|
| 3 | 18 | 18 |
| Type | Sq Ft | Beds | Baths | Min Rent | Max Rent | Units Like This |
|---|---|---|---|---|---|---|
| 1 | 850 | 2 | 1/1 | $1,853 | $2,300 | 17 |
| 2 | 400 | 0 | 1/0 | $1,495 | $1,495 | 1 |
Neighborhood: Around This Home
Neighborhood: Local Demographics
Nearby Homes for Sale
75 N Hebbron Ave is a Residential Income in Salinas, CA 93905. This 14,328 square foot property sits on a 0.46 Acres Lot and features – bedrooms & – full bathrooms. It is currently priced at $4,395,000 and was built in 1979. This address can also be written as 75 N Hebbron Ave, Salinas, CA 93905.
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This listing information is up-to-date as of June 26, 2025. For the most current information, please contact Alex Budka, (831) 275-5370
