Great opportunity to own a fully rented triplex in east salinas! The front unit is a mostly remodeled 2 bedroom 1 bath unit with updated flooring, kitchen cabinets and countertops. The back unit is a 2 bedroom 1 bath with tile flooring and open floor plan with a small fenced backyard. The 3rd unit is a 1 bedroom 1 bathroom with tile flooring and storage shed in backyard. Rents are low for each unit and could easily be doubled over time, subject to Salinas rental ordinance. Owner covers trash, septic and water which potentially could be costs transferred to the tenants over time as well. There is plenty of room for improvements to be made that would reflect in an increase in equity position and cashflow for this property. Close proximity to shopping, restaurants, hwy 101 and local schools. This is truly a great investment opportunity for the right buyer!
Under contract
Price cut: $50K (4/11)
$725,000
615 Terrace St, Salinas, CA 93905
5beds
3baths
1,607sqft
Triplex, Residential Income
Built in 1951
-- sqft lot
$705,000 Zestimate®
$451/sqft
$-- HOA
What's special
Storage shed in backyardSmall fenced backyardTile flooringOpen floor planUpdated flooring
- 102 days |
- 28 |
- 0 |
Zillow last checked:
Listing updated:
Listed by:
Sean Griffin 01466508 831-262-1955,
Agency One Real Estate 831-262-1955
Source: MLSListings Inc,MLS#: ML82039241
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 5
- Bathrooms: 3
Heating
- Wall Furnace
Cooling
- None
Features
- Doors: None
Interior area
- Total structure area: 1,607
- Total interior livable area: 1,607 sqft
Property
Parking
- Total spaces: 3
- Parking features: Common
- Has carport: Yes
Accessibility
- Accessibility features: None
Features
- Stories: 1
Lot
- Size: 5,674 Square Feet
Details
- Parcel number: 004081025000
- Zoning: HDR
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Triplex, Residential Income
Materials
- Foundation: Slab
- Roof: Composition
Condition
- Year built: 1951
Utilities & green energy
- Gas: IndividualGasMeters, PublicUtilities
- Sewer: Public Sewer
- Water: Public
- Utilities for property: Public Utilities, Water Public, Individual Electric Meters, Individual Gas Meters
Community & HOA
Location
- Region: Salinas
Financial & listing details
- Price per square foot: $451/sqft
- Tax assessed value: $219,423
- Annual tax amount: $7,750
- Date on market: 3/18/2026
- Listing agreement: ExclusiveRightToSell
- Listing terms: CashorConventionalLoan
- Inclusions: OvenRangeSomeUnits
- Lease term: Month To Month
Estimated market value
$705,000
$670,000 - $740,000
$3,320/mo
Price history
| Date | Event | Price |
|---|---|---|
| 5/4/2026 | Contingent | $725,000$451/sqft |
Source:  MLSListings Inc #ML82039241 Report a problem | ||
| 4/11/2026 | Price change | $725,000-6.5%$451/sqft |
Source: MLSListings Inc #ML82039241 Report a problem | ||
| 4/10/2026 | Listed for sale | $775,000$482/sqft |
Source: MLSListings Inc #ML82039241 Report a problem | ||
| 4/2/2026 | Contingent | $775,000$482/sqft |
Source: MLSListings Inc #ML82039241 Report a problem | ||
| 3/18/2026 | Listed for sale | $775,000+355.9%$482/sqft |
Source: MLSListings Inc #ML82039241 Report a problem | ||
| 9/30/2009 | Sold | $170,000-75.9%$106/sqft |
Source: Public Record Report a problem | ||
| 8/4/2005 | Sold | $705,000+113.6%$439/sqft |
Source: Public Record Report a problem | ||
| 12/7/2001 | Sold | $330,000$205/sqft |
Source: Public Record Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,817 +9.1% | $219,423 +2% |
| 2024 | $2,583 +3.4% | $215,121 +2% |
| 2023 | $2,497 +3.9% | $210,904 +2% |
| 2022 | $2,404 +4% | $206,770 +2% |
| 2021 | $2,311 +2.8% | $202,717 +1% |
| 2020 | $2,248 +0.8% | $200,639 +2% |
| 2019 | $2,230 +1.4% | $196,706 +2% |
| 2018 | $2,200 -0.1% | $192,850 +2% |
| 2017 | $2,202 -0.1% | $189,069 +2% |
| 2016 | $2,203 +6.1% | $185,363 +1.5% |
| 2015 | $2,077 | $182,580 +2% |
| 2014 | $2,077 | $179,005 +2.5% |
| 2012 | -- | $174,704 +2% |
| 2011 | -- | $171,279 +0.8% |
| 2010 | -- | $170,000 -69.1% |
| 2009 | -- | $550,000 |
| 2008 | -- | $550,000 -22% |
| 2006 | -- | $705,000 +101.6% |
| 2005 | -- | $349,740 +2% |
| 2004 | -- | $342,883 +1.9% |
| 2003 | -- | $336,600 +2% |
| 2002 | -- | $330,000 +229.2% |
| 2001 | $1,087 | $100,236 +2% |
| 2000 | -- | $98,271 |
Find assessor info on the county website
Monthly payment
Est. payment$--/mo
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Climate risks
Neighborhood: Laurel Heights
Nearby schools
GreatSchools rating
- 2/10Loma Vista Elementary SchoolGrades: K-6Distance: 2.2 mi
- 5/10El Sausal Middle SchoolGrades: 7-8Distance: 0.7 mi
- 5/10Alisal High SchoolGrades: 9-12Distance: 1.8 mi
Schools provided by the listing agent
- District: SalinasCityElementary
Source: MLSListings Inc. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
A local agent can set up tours, give advice and negotiate with sellers.
Local buyer's agents are ready to help
- California
- Monterey County
- Salinas
- 93905
- Laurel Heights
- 615 Terrace St
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