1140 East Market Street

Salinas, CA 93905

$865,000
Price
Beds
1,440 Sq. Ft.
$601 / Sq. Ft.
1,440
Sq. Ft.
$601
per Sq. Ft.

Description

5% cap rate with new Prop 13 taxes. In-laws, contractors, storage galore. This unique offering features a two-bedroom / one-bathroom home, a newly remodeled one-bedroom/one-bathroom unit, and an 800+ square foot garage/workshop with a half bathroom. The garage is perfect for storing cars, contractors, rental income, or a home workshop -many possibilities. There is a roll-up door and 12 ft.+ ceilings. The house has a separate living room, dining room, eat-in kitchen, and laundry room. The bathroom...5% cap rate with new Prop 13 taxes. In-laws, contractors, storage galore. This unique offering features a two-bedroom / one-bathroom home, a newly remodeled one-bedroom/one-bathroom unit, and an 800+ square foot garage/workshop with a half bathroom. The garage is perfect for storing cars, contractors, rental income, or a home workshop -many possibilities. There is a roll-up door and 12 ft.+ ceilings. The house has a separate living room, dining room, eat-in kitchen, and laundry room. The bathroom has floor-to-ceiling shower tile and has been updated. The kitchen is spacious and has a natural gas stove /oven with a vent hood. The house has an exterior patio with a cement floor and stucco walls for privacy. There is a secondary yard, which is fenced, gated, and wraps around the entire property. The second unit: This 498 sq. ft. one-bedroom unit has been newly remodeled - no one has lived in it since it was finished. The unit features LVP flooring and a completely new kitchen with stainless steel appliances and quartz cabinets. The bathroom was also remodeled. Almost all windows are vinyl. Electric panels are newer - Square D. Roof was installed in 2017.

Property Details for 1140 East Market Street

MLS City Name
SALINAS
Building Type
DUPLEX
Garage Spaces
1
Parking Spaces
3
Cross Street
Towt
LISTING UPDATED: 10/10/2024 10:46 AM

Property Details for 1140 East Market Street

StatusActive
MLS #ML81971469
Days on Compass124
Taxes$10,000 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / DUPLEX
Year Built1940
Lot Size0.16 AC / 7,000 SF
CountyMonterey County

Building Information for 1140 East Market Street

Stories1Residences2Year Built1940Building Size-Lot Size0.16 AC / 7,000 SF

Property Information for 1140 East Market Street

Features
Room Information
  • Additional Rooms: Storage, Other
  • Kitchen: Countertop - Stone, Exhaust Fan, Hood Over Range, Oven Range - Gas, Refrigerator
Features
  • Fireplace: No
  • Flooring: Tile, Vinyl / Linoleum
  • Laundry: Hookups Only
  • Living SqFt: 1440
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Forced Air, Gas, Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters, Individual Gas Meters
  • Water: Individual Water Meter
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Detached Garage, Off-Street Parking, On Street
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: ES-68
  • Roof: Composition
  • Subclass: Duplex
  • Year Built Source: Assessor
  • Street Number: 1140
  • Street Name: Market
  • Street Direction Prefix: East
  • Street Suffix: Street
  • Area ID: 68
Lot / Property Details
Building Information
  • Number Of Stories: 1
  • Number of Buildings: 2
  • Structure SqFt: 1440
  • Structure SqFt Source: Other
  • Age: 84
Development Information
  • Zoning Detail: R-L-5.5
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 004-163-014-000
  • County Name: Monterey
  • City Name: SALINAS
  • City Postal ID: 5389
  • Postal Code: 93905
  • Elementary School District: 430
  • High School District Text: Salinas Union High
Lot Information
  • Foundation: Concrete Perimeter
  • Horse Property: No
  • Lot Acres: .16
  • Lot Description: Grade - Level
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
  • Yard Grounds: Back Yard, Courtyard, Fenced, Low Maintenance, Storage Shed / Structure
Multi Family Information
Building Information
  • No Of Leased: 1
General Information
  • Annual Tax Amount: $10,000
  • Building Unit Total: 2
  • Capitalization Rate: 4.99
  • Tenant Expenses: Services - Trash Removal, Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $1,600
  • Expense Landscape: $1,200
  • Expense Maintenance: $2,000
  • Expense Management: $0
  • Expense Trash: $0
  • Expenses Other: $0
  • Expenses Utility: $2,600
  • Expenses Total: $17,400
  • Operating Expenses Include: Fee - Property Tax, Insurance, Maintenance, Services - Gardener, Services - Sewer
  • Gross Rent Multiplier: 13.86
  • Income Annual Gross: $60,528
  • Income Annual Rental: $62,400
  • Income Gross Scheduled: $62,400
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $2,200
Unit 2 Information
  • Unit 2 Approx Square Footage: 498
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,967
Unit 3 Information
  • Unit 3 Approx Square Footage: 800
  • Unit 3 Rent: $1,000
Unit Type 1
  • Unit Type1 Approx SqFt: 942

Property History for 1140 East Market Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 1140 East Market Street

Taxable ValueLand$13,131Additions$70,891Total$84,022
Tax Record2023$1,162 ($97 / month)
Home Facts
Baths1Total Finished SqFt1,294 SqFtAbove Grade Finished SqFt1,294 SqFtStories1Lot Size7,000 SqFtStyleDuplexYear Built1940CountyMONTEREYAPN004-163-014-000Fireplace TypeHas Fireplace

Schools near 1140 East Market Street

This home is within Salinas Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - 7 to 8
Public - 9 to 12
Public - 7 to 12
Rating
School
Distance
Fremont Elementary School
PublicK to 6

El Sausal Middle School
Public7 to 8

Alisal High School
Public9 to 12

El Puente
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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1140 East Market Street is a multi-family home for sale in Salinas, CA 93905. This property was listed for sale on June 28, 2024 by Albers Real Estate Investment Company, it's currently listed at $865,000. This listing's school districts are Salinas Union High School District, Alisal Union School District. Nearby schools include Fremont Elementary School, El Sausal Middle School and Alisal High School. 1140 East Market Street is a 0-bed, 0-bath, 1,440 sqft multi-family home built in 1940.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Albers Real Estate Investment Company, Hap Albers, DRE #01006595

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.