615 Terrace Street
Listed by Agency One Real Estate, Sean Griffin, Listing Contact: 831-262-1955
$712,000

615 Terrace Street

1,607 Sq.Ft. 5,674 Sq.Ft.

Description

Great opportunity to own a fully rented triplex in east salinas! The front unit is a mostly remodeled 2 bedroom 1 bath unit with updated flooring, kitchen cabinets and countertops. The back unit is a 2 bedroom 1 bath with tile flooring and open floor plan with a small fenced backyard. The 3rd unit is a 1 bedroom 1 bathroom with tile flooring and storage shed in backyard. Rents are low for each unit and could easily be doubled over time, subject to Salinas rental ordinance. Owner covers trash, septic and water which potentially could be costs transferred to the tenants over time as well. There is plenty of room for improvements to be made that would reflect in an increase in equity position and cashflow for this property. Close proximity to shopping, restaurants, hwy 101 and local schools. This is truly a great investment opportunity for the right buyer!

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Location

615 Terrace ST, Salinas, CA 93905

Status

Sold

Date Sold

June 30, 2026
Sean Griffin

Sean Griffin

TITLE

Founder, Broker Associate

Property Amenities

Area & Lot
Total area 1,607 Sq.Ft.
Lot Area 5,674 Sq.Ft.
Living area 1,607 Sq.Ft.
MLS® ID ML82039241
Year Built 1951
School District SalinasUnionHigh
Type Multi-Family
Status Sold
Exterior
Stories 1
Air conditioning None
Heat type Wall Furnace
Disability Features None
Water Source Public
Sewer Public Sewer
Parking Common Parking Area
Roof Composition
Utilities Public Utilities, Water Public, Individual Electric Meters, Individual Gas Meters
Finance
Sales Price $712,000
Real Estate Tax $7,750 yearly

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