About 1155 E Laurel Dr
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.
Features of 1155 E Laurel Dr
| MLS® # | ML81996974 |
|---|---|
| Price | $3,990,000 |
| Square Footage | 11,200 |
| Acres | 0.33 |
| Year Built | 1978 |
| Type | Multi-Residential |
| Sub-Type | Five or More Units |
| Status | Active |
Community Information
| Address | 1155 E Laurel Dr |
|---|---|
| Area | East Salinas - H & I |
| City | SALINAS |
| County | Monterey |
| State | CA |
| Zip Code | 93905 |
Amenities
| Utilities | Individual Electric Meters, Individual Gas Meters |
|---|---|
| Parking Spaces | 18 |
| Is Waterfront | No |
Interior
| Heating | Wall Furnace, Gas Heat |
|---|---|
| Cooling | No Cooling |
| Fireplace | No |
Exterior
| Lot Description | Grade - Level |
|---|---|
| Roof | Composition Roof |
| Construction | Wood Construction |
| Foundation | Concrete Slab |
Additional Information
| Zoning | R H 2 1 |
|---|---|
| Foreclosure | No |
| Short Sale | No |
| RE / Bank Owned | No |
Listing Details
| Agent | Hap Albers |
|---|---|
| Office | Albers Real Estate Investment Company |
| Contact Info | 831-372-1922 |