431 Espinosa Road, Salinas, CA 93907
- $5,495,000
- 4,898
- SqFt
- List Price
- $5,495,000
- Status
- ACTIVE
- MLS#
- ML82062979
- Year Built
- 1957
- Living Sq. Ft
- 4,898
- Lot Size
- 1,080,724
- Acres
- 24.81
- Days on Market
- 1
- Property Type
- Multifamily
- Property Sub Type
- Mixed Use
Property Description
Rare 24.81± acre offering near the northern edge of Salinas, approximately one-quarter mile from Highway 101. Includes 5.17± acres zoned Heavy Commercial and 19.64± acres zoned Farmland (F/40), with approximately 980 feet of Espinosa Road frontage and level terrain. Land of this size and zoning seldom comes available in this area, offering a broad range of potential commercial uses. Four residences will be delivered vacant: a 2,758± SF main home with a stone fireplace, separate dining and family rooms, front porch and garage; a standalone 1BR/1BA home; and a duplex with two 2BR/1BA units. Residences are served by municipal water. A 23-acre row-crop lease generates $41,400 annually. The cultivated land has a history of organic strawberry production and an agricultural well. Estimated residential rents of $11,000/month bring projected gross annual income to $173,400 at full occupancy, before expenses. Residential uses are reported as legal nonconforming. Future uses are subject to County review, applicable approvals and existing lease terms. Buyer to verify property details, allowable uses and income projections.
Additional Information
- Taxes
- $65,940
- Heat
- Propane, Wall Furnace
- Cooling
- Yes
- Roof
- Composition
- Garage Spaces Total
- 2
- Water
- Public, Well
- School District
- Other
- Attached Structure
- Detached
- Gross Scheduled Income
- $173,400
Listing courtesy of Listing Agent: Mike Handley (mike@tncrealestate.com) from Listing Office: Town'N Country Realty.
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Based on information from California Regional Multiple Listing Service, Inc. as of . This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.