75 N Hebbron AVE, Salinas, CA 93905
- $4,150,000
- 14,328
- SqFt
Listed by Alex Budka, 831-275-5370 from Redwood Property Company
(If provided) CoList: Joe Budka from Redwood Property Company
Sold listing courtesy of Deba Christensen from M5022
- Sold Price
- $4,150,000
- List Price
- $4,395,000
- Closing Date
- Jan 26, 2026
- MLS#
- ML82012531
- Status
- SOLD
- Sqft. of Residence
- 14,328
- Lot Size
- 20,038
- Listing Area
- Es-66
- Year Built
- 1979
Property Description
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 5.47% with pro forma cap rate of 8.73%!
Additional Information
- Acres
- 0.46
- Age
- 46
- Cooling System
- None
- Foundation
- Wood Frame
- Garage Parking
- Assigned Spaces, Off-Street Parking
- Heating System
- Wall Furnace
- Living Area
- 14,328
- Lot Size
- 20,038
- Neighborhood
- Es-66
- Other Utilities
- Individual Electric Meters, Individual Gas Meters
- Roof
- Flat / Low Pitch
- Sewer
- Sewer - Public
- Unincorporated Yn
- Yes
- Zoning
- Multifamily
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