96
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$5,495,000
Est. payment /mo
4,898 SqFt
New
431 Espinosa RD Salinas, CA 93907
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Key Details
Property Type Single Family Home, Multi-Family
Sub Type Mixed Use
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
Annual Tax Amount $65,940
Lot Size 24.810 Acres
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.
Location
State CA
County Monterey
Area 699 - Not Defined
Zoning HC and F/40
Interior
Heating Propane, Wall Furnace
Fireplace No
Exterior
Garage Spaces 2.0
Garage Description 2.0
View Y/N No
Roof Type Composition
Accessibility None
Building
Story 1
Water Public, Well
Schools
School District Other
Others
Tax ID 113081007000
Special Listing Condition Standard
Virtual Tour https://Tours.MontereyBayVirtualTours.com/idx/338541
Listed by Mike Handley Town'N Country Realty #01280498
NEARBY SCHOOL & BUSINESS