176 Palm AVE, MARINA, CA 93933 (MLS # ML81692937)

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PRICE $5,000,000
BEDS 0
BATHS 0 bath
HOME SIZE 13,696 sq ft
LOT SIZE 1.30 ac

Great opportunity to own a 23 Unit Apartment in Marina, CA. There are 20- 1 Bedroom units and 3- 2 bedroom units. The units are all in fair condition but could be updated over time. There is a good upside in rents if units are remodeled. The property manager uses RUBS and charges tenants their share of water and trash. All units are individually metered for gas and electricity. The parcel is zoned R-4 Multi-family residential with a maximum site density of 25 units per acre or 1 unit for each 1743 sf of land. In this case, you could build 8-9 units additional units under the current zoning standards. However, the zoning allows up to 35 units per acre with a conditional use permit which would allow up to 43 units on the site. The property is located on two lots of record with only one APN and there is potential for a lot split. Buyer to verify all development opportunities with city of Marina. ***New roof currently being put on all 6 buildings at the complex***

LAST UPDATED 4/13/2018 YEAR BUILT 1960
COMMUNITY Locke Paddon COUNTY Monterey
STATUS Sold PROPERTY TYPE(S) Multi Family

SCHOOLS
School District Monterey Peninsula Unified


ADDITIONAL DETAILS
AIR None
AREA Locke Paddon
BASEMENT Foundation: Concrete Slab
GARAGE Off-Site Parking
HEAT Wall Furnace
LOT 1.3 acre(s)
PARKING 15
SEWER Sewer: Sewer - Public
TAXES 59940
UTILITIES Water: Public; Sewer: Sewer - Public;
WATER Water: Public
Listing provided by Sean Griffin, KW Coastal Estates

The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the MLSListings™ MLS system. All real estate listings in the MLSListings MLS system are marked with the MLSListings Internet Data Exchange icon (a stylized house inside a circle), and detailed information about them includes the names of the listing brokers and listing agents.

 

Based on information from MLSListings MLS as of 9/23/18 9:09 AM PDT. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

Copyright 2018 MLSListings Inc. All rights reserved.

This IDX solution is (c) Diverse Solutions 2018.


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