This 14-unit apartment complex delivers many investor positives which will increase your investment return. The unit mix features all two-bedroom / one-bathroom units with a $2,100 monthly average rent. Market rents are $2200 plus. Capital improvements include: new asphalt comp roof 2018, exterior painting 2018, catwalk repairs, new stainless steel stairs and handrails, security lights, complete main electric panel replacement, and individual unit water shutoff valves. Interior capital improvements include 12 remodeled units with new kitchens, appliances, flooring, and bathrooms. These capex items will reduce potential insurance premium increases, improvement requirements, and future capital investment. Exterior maintenance is minimal. The complex also has 18 off-street parking spaces.
Sold for $3,550,000
Zillow last checked:
Listing updated:
Bought with:
Will Silva, 01367483
Legacy R.E.Group. Inc.-Monterey
Source: MLSListings Inc,MLS#: ML81996974
Price history
| Date | Event | Price |
|---|---|---|
| 11/14/2025 | Sold | $3,550,000-11%$317/sqft |
Source:  MLSListings Inc #ML81996974 Report a problem | ||
| 9/3/2025 | Contingent | $3,990,000$356/sqft |
Source: MLSListings Inc #ML81996974 Report a problem | ||
| 3/7/2025 | Listed for sale | $3,990,000+66.3%$356/sqft |
Source: MLSListings Inc #ML81996974 Report a problem | ||
| 8/5/2024 | Listing removed | $2,400,000$214/sqft |
Source: MLSListings Inc #ML81741971 Report a problem | ||
| 9/3/2019 | Listed for sale | $2,400,000$214/sqft |
Source: MLSListings Inc #ML81741971 Report a problem | ||
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Estimated market value
$3,554,200
