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|
|STATUS||Sold||PROPERTY TYPE(S)||Multi Family|
|School District||Monterey Peninsula Unified|
|BASEMENT||Foundation: Concrete Slab|
|SEWER||Sewer: Sewer - Public|
|UTILITIES||Water: Public; Sewer: Sewer - Public;|
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