148 Encinal ST, Soledad, California
148 Encinal ST, Soledad, California 93960 - The rental income for this 28 unit complex has a lot of potential upside with market rents $200 to $350 per unit above current in place rents. Proforma rents are potentially $405,000 as compared to the current rental income of $308,400. Seller has delivered rent increase notices effective February 1st, 2018, which will increase rental income to $28,900/$346,800 annually. Complex featuring 8 two bed / one bath units, 16 one bed / one bath units, and 4 studios. The one and two bedroom units have a fenced patio or a privacy deck. Soledad and the Salinas Valley has few currently available units on the rental market and lots of demand. The rental market has little new construction and the job market is growing because of the agriculture, wine, and marijuana industries in the Salinas Valley. The complex has asphalt pitched roofs, stucco exteriors, 34 off street parking spaces, and a onsite laundry room. Complex is well located near 101, schools, and services.
Listing Courtesy of Hap Albers~Albers Real Estate Investment Company
“Chris is a rock star agent! Our transaction was on an extremely tight schedule. Chris had literally only 1 week to prep, advertise, list and sell our home and he did it! We had multiple, non-contingent offers well over asking price and it sold in three days. It was a whirlwind sale but Chris handled it thoroughly and professionally. I would definitely recommend him.”