Listed by Mike Handley • Town'N Country Realty
$5,495,000
Est. payment /mo
4,898 SqFt
New
431 Espinosa Road Salinas, CA 93907
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Key Details
Property Type Multi-Family
Sub Type OTHER
Listing Status Active
Purchase Type For Sale
Square Footage 4,898 sqft
Price per Sqft $1,121
MLS Listing ID ML82062979
HOA Y/N No
Year Built 1957
Lot Size 24.810 Acres
Property Sub-Type OTHER
Source Datashare MLSListings
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.
Location
State CA
County Monterey
Interior
Heating Forced Air, Wall Furnace, Propane
Cooling Ceiling Fan(s)
Fireplace No
Building
Water Public
Schools
School District Salinas Union High, Santa Rita Union Elementary
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