South Salinas Mix-Use Building with 9 private parking spaces or seller shall provide parking lot agreement. Detached 2 car garage/storage. Existing 4 bedrooms 1 bath unit on the second floor can be built out to four dwelling units per the City of Salinas. Existing leases in place. Annual Gross Income $62,400.00. Cap Rate at Asking price is 5.1% based on $835,000. Great central location with the potential to build four apartments with projected value at $1.6M ++ Seller motivated and found a replacement property.
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