739 Pajaro Street

Salinas, CA 93901

$6,275,000
Price
Beds
14,656 Sq. Ft.
$428 / Sq. Ft.
14,656
Sq. Ft.
$428
per Sq. Ft.

Description

The Pajaro Pines Apartments consists of 22 units in three separate buildings (14,656 sq. ft) on two separate parcels (21,933 sq. ft). The 739 Pajaro Street unit mix consists of six studios, two one-bedroom units, and six two-bedroom apartments. 739 Pajaro Street is a 10,806 sq. ft building on a 12,213 sq. ft lot. These units have a San Francisco apartment feel with high ceilings, some fireplaces, and large closets. 109 Pine Street consists of seven one-bedroom units with open beam ceilings. 109 Pine...The Pajaro Pines Apartments consists of 22 units in three separate buildings (14,656 sq. ft) on two separate parcels (21,933 sq. ft). The 739 Pajaro Street unit mix consists of six studios, two one-bedroom units, and six two-bedroom apartments. 739 Pajaro Street is a 10,806 sq. ft building on a 12,213 sq. ft lot. These units have a San Francisco apartment feel with high ceilings, some fireplaces, and large closets. 109 Pine Street consists of seven one-bedroom units with open beam ceilings. 109 Pine Street is a 3,850 sq. ft building on a 9,720 sq. ft. lot. The 22nd unit is a one-bedroom cottage. The property has been upgraded including the electric main panel, subpanels, and the rear stairs were engineered and constructed in 2010. The property has many other upgrades including windows, remodeled units, owned laundry equipment (expected to generate $600/month revenue), and painting. The flooring in most units is original hardwood.
  1. Listed by Hap Albers • DRE #01006595 • Brokerage DRE #01006595 • Albers Real Estate Investment Company • 831-372-1922

Property Details for 739 Pajaro Street

MLS City Name
SALINAS
Building Type
Other
Style
Spanish
Garage Spaces
4
Parking Spaces
2
Cross Street
Pine
LISTING UPDATED: 09/13/2024 04:33 PM

Property Details for 739 Pajaro Street

StatusActive
MLS #ML81979058
Days on Compass31
Taxes$66,700 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family 5+
MLS Type5+ Units / Five or More Units
Year Built1929
Lot Size0.50 AC / 21,933 SF
CountyMonterey County

Building Information for 739 Pajaro Street

Stories-Residences-Year Built1929Building Size-Lot Size0.50 AC / 21,933 SF

Property Information for 739 Pajaro Street

Features
Room Information
  • Kitchen: Oven Range - Electric, Refrigerator
Features
  • Fireplace: No
  • Flooring: Carpet, Hardwood, Tile, Vinyl / Linoleum
  • Laundry: Coin Operated
  • Living SqFt: 14656
  • Pool: No
  • Security Features: Fire Alarm
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Gas, Wall Furnace
  • Meters: Master Electric, Master Gas, Master Water, Separate Electric
  • Sewer Septic: Sewer Connected
  • Utilities: Individual Electric Meters
  • Water: Individual Water Meter
Carport and Parking
  • Carport Min: 7
Garage
  • Garage and Parking: Covered Parking, Off-Street Parking, On Street
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Min Num Of Units in Complex: 22
  • Area Text: Maple Park
  • Roof: Composition, Flat / Low Pitch
  • Subclass: Five or More Units
  • Year Built Source: Assessor
  • Street Number: 739
  • Street Name: Pajaro
  • Street Suffix: Street
  • Area ID: 69
Lot / Property Details
Building Information
  • Number of Buildings: 3
  • Structure SqFt: 14656
  • Structure SqFt Source: Other
  • Age: 95
Development Information
  • Ownership Type: Individual
  • Zoning Detail: RL 5.5
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 002-456-023-000
  • County Name: Monterey
  • City Name: SALINAS
  • City Postal ID: 5389
  • Postal Code: 93901
  • Elementary School District: 441
  • Middle School Text: Washington Middle
  • High School District Text: Salinas Union High
  • High School Text: Salinas High
Lot Information
  • Foundation: Concrete Perimeter
  • Lot Acres: .50
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Other
Multi Family Information
Building Information
  • No Of Leased: 22
General Information
  • Annual Tax Amount: $66,700
  • Capitalization Rate: 4.59
  • Tenant Expenses: Utilities - Electric
  • Income Includes: Laundry, Rents, Other
  • Vacancy Factor: 3
Income / Expense Details
  • Expense Insurance: $4,728
  • Expense Landscape: $7,548
  • Expense Maintenance: $16,500
  • Expense Management: $16,760
  • Expense Trash: $14,832
  • Expenses Other: $13,000
  • Expenses Utility: $21,108
  • Expenses Total: $161,176
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Insurance, Maintenance, Maintenance - Laundry, Services - Gardener, Services - Sewer, Services - Trash Removal, Utilities - Gas, Utilities - Hot Water, Utilities - Water, Vacancy Factor
  • Gross Rent Multiplier: 13.54
  • Income Annual Gross: $449,396
  • Income Annual Rental: $456,095
  • Income Gross Scheduled: $463,295
  • Income Other: $7,200
Unit 1 Information
  • Unit 1 Rent: $984
Unit 2 Information
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 1
  • Unit 2 Rent: $1,725
Unit 3 Information
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $1,950
Unit 4 Information
  • Unit 4 Full Bathrooms: 1
  • Unit 4 Number of Bedrooms: 1
  • Unit 4 Rent: $1,383

Property History for 739 Pajaro 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 739 Pajaro Street

Taxable ValueLand$360,544Additions$964,956Total$1,325,500
Tax Record2023$15,113 ($1,259 / month)
Home Facts
Baths16Total Finished SqFt10,806 SqFtAbove Grade Finished SqFt10,806 SqFtStories3Lot Size12,213 SqFtStyleMulti-Family Res (5+ Units)Year Built1929CountyMONTEREYAPN002-456-023-000

Schools near 739 Pajaro Street

This home is within Salinas Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - K to 6
Public - K to 6
Public - K to 6
Rating
School
Distance
Monterey Park Elementary School
PublicK to 6

Mission Park Elementary School
PublicK to 6

University Park Elementary School
PublicK to 6

Lincoln Elementary School
PublicK to 6

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.

Similar Homes

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739 Pajaro Street is for sale in Salinas, CA 93901. This property was listed for sale on September 4, 2024 by Albers Real Estate Investment Company, it's currently listed at $6,275,000. It has been on the market for a total of 31 days and was last sold on March 4, 2014. This listing's school districts are Salinas Union High School District, Salinas City Elementary School District. Nearby schools include Monterey Park Elementary School, Mission Park Elementary School and University Park Elementary School. 739 Pajaro Street is a 0-bed, 0-bath, 14,656 sqft built in 1929.

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.