83 Castro Street, Salinas, CA

 

16 Units

 

83 Castro Street 16 Units Multi Family Apartment Complex For Sale

 

$4,199,000

 

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Complex Notes:

 

 

  • 83 Castro Street consists of 16 two-bedroom / one-bathroom apartments.
  • The complex was constructed in 1983. There are three buildings.
  • There are two offices. One is for management, and the other is used for storage and by ownership.
  • Most units have a private deck or an enclosed patio, some of which are quite spacious.
  • The complex has benefited from many capital improvements in recent years, including:
    • Most of the wood siding has been replaced in the last 3 years.
    • Deck replacement and repairs in the last 4 years.
    • SB721 Inspection- clearance with no red flags.
    • Exterior repainted.
    • New Jeld-Wen vinyl windows in all units. The units have mini blinds.
    • A new water pressure regulator was installed in January 2026.
  • Units have been remodeled with new bathroom fixtures, bathroom fans, kitchens, lighting, and flooring.
  • Onsite Management: The onsite manager does not pay rent for Unit # 1. The manager's compensation of $963 per month is credited against rent. The manager is limited to working no more than 52 hours per month.
  • Parking: There is one garage, 14 tuck-under parking spaces, and 8 uncovered spaces. Units 3, 6, 8, and 10 pay $50 per month for extra parking.
  • All units have a natural gas water heater.
  • The roofs are 30-year asphalt composition shingles and were installed in 2006.
  • There is minimal exterior landscaping. Most of it is serviced by drip irrigation.
  • The garbage dumpsters are located close to the street, minimizing parking lot damage.
  • The complex owns the laundry equipment. There are four washers and five dryers.
  • The complex is estimated at 12,457 square feet. The lot size is 19,858 square feet.
  • The owner pays for sewer, garbage, house PG&E, and water.

 

 

Salinas & Monterey County Facts:

 

  • The 2021 estimated population of Salinas is 162,791, according to the US Census Bureau.
  • The estimated population of Monterey County is 437,907.
  • According to the Monterey County Farm Bureau, in addition to crops produced, agriculture contributes over $3.9 billion per year to Monterey County's economic output, with a total estimated impact of over $11.7 billion on the local economy.
  • Significant employers include Monterey County, Salinas Valley Memorial Hospital, Natividad Medical Center, Taylor Farms, Dole Vegetables, 1st Capital Bank, the hospitality industry, and the construction industry.
  • The Monterey Peninsula's significant employers include Pebble Beach Company, Monterey Bay Aquarium, Naval Post Graduate School, Defense Language School, and the CSU Monterey Bay.
  • Salinas is a commuter community for the Monterey Peninsula, Watsonville, Santa Cruz, Gilroy, Morgan Hill, and Silicon Valley.

 

 

Financials

 

83 Castro Street Salinas Financials

 

 

Rent Roll

 

83 Castro Street Salinas Rent Roll

 

 

 

Plot Map

 

83 Castro Street Salinas Parcel Map

 

 

 

Area Map

 

83 Castro Street Salinas Area Map

 

 

 

 

 


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