Listed by Albers Real Estate Investment Company, Hap Albers, Listing Contact: 408-893-6002

12,457 sqft

$3,915,000

Castro ST, Salinas CA, 93906

Price per sqft$314.28

Built in1983

Property size12,457 sqft

Property typeResidential

Overview

Sold

Listed May 19, 2026

Updated 5 days ago

Rarely available Salinas 16-unit apartment complex. 9.64 GRM & a 6.31% cap rate with new Proposition 13 taxes. Unit mix is all 2-bed / 1 bath. Lots of positives: 1983 construction, most of the wood siding replaced in the last 3 years, deck replacement & repairs last 4 years, SB721 clearance, exterior repainted, complex-owned laundry equipment, and Jeld-Wen vinyl windows. Interiors have remodeled the kitchens, installed new lighting, fans, and flooring, and installed new bathroom fixtures. Most units have a private deck, enclosed patio, some of which are quite spacious. There are two offices - one for management and one for ownership. The North Salinas location is close to shopping, amenities, Costco, Target, Safeway, banks, and many restaurants. Easy access to Highway 101 and may employment centers.

Additional information

MLS^® ID: ML82047880

Interior Features

Heating: Yes
Basement: No

Exterior Features

Lot Size: 0.46 Acres

Other Property Details

Garage: Yes

Listed by Albers Real Estate Investment Company, Hap Albers DRE:01006595,
Listing Contact: 408-893-6002

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Data last updated 1:32 PM UTC, 9/28/2026