Under Contract

615 Terrace Street

Salinas, CA 93905

$725,000 $3,056/Mo

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Overview

Bed

Bath

1,607

Sqft

5,674

Sqft(Lot)

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 sc hools. This is truly a great investment opportunity for the right buyer!

Property Details

Property Type : Residential Income

Price : $725,000

AD Id : 76235600

MLS Id : ML82039241

Beds : 5

Lot Size : 5,674 Sqft

Living Area Size : 1,607

Year Built : 1951

County : Monterey

Map

What's Nearby

Nearby Areas

Features

Bathroom Information

Total Baths: 0

Water/Sewer

Water Source: Public Sewer: Public Sewer
Interior Features

Roof: Composition
Cooling Features

None Air Conditioning

Heating Source

Wall Furnace Has Heating

Building Information

Year Built: 1951 Building Area Total: 1,607 Roof: Composition
Foundation

Slab
Accessibility Features

None

Lot Details

Lot Dimensions Source: Vendor Enhanced Lot Size Acres: 0.1303
Lot Size Source: Assessor Lot Size Square Feet: 5674

Listing Price Information

Original List Price: 725,000 Listing Contract Date: 2026-03-18
Lease Information

Listing Agreement: Exclusive Right To Sell

Tax Information

Parcel Number: 004081025000 Annual Tax: 7750

Other Property Info

Source Listing Status: Active Under Contract Source Neighborhood: 699 - Not Defined Zoning: HDR Source Property Type: Residential Income Area: 699 - Not Defined Property SubType: Triplex
Building and Construction

Property Age: 75 Structure Type: Triplex Year Built Source: Assessor Total Square Feet Living: 1607

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Nearby Home Value

Address	Estimate	Bed	Bath	Sq. Ft	Lot Size
1119 C Street, Salinas, CA, 93905	$499,000	4	--	1,713	1,713 SqFt
1413 Wiren Street, Salinas, CA, 93905	$749,000	3	--	1,446	1,446 SqFt
119 Carr Avenue, Salinas, CA, 93905	$950,000	5	--	2,050	2,050 SqFt

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ByOwner last updated this listing 06/09/2026 @ 16:25

MLS: ML82039241 LISTED BY: Sean Griffin, Agency One Real Estate 831-262-1955 SOURCE: CRMLS