1055 Padre Drive 2, Salinas, California 93901, Salinas, 93901 - 2 bed, 1 bath
Loading property details...
Salinas, California 93901
This well-maintained condominium represents a High-Potential Investment Opportunity, listed at $465,000—positioned well below the $537,638 Fair Market Value by 13%. This significant valuation gap provides $72,638 in Instant Equity. Boasting a Condition Rating of 3, the interior features modern laminate flooring, an updated vanity, and a rare two-car garage for added security. Residents enjoy mountain views from the elevated balcony and the convenience of in-unit laundry. This property is an ideal acquisition for first-time buyers or Buy-and-Hold Investors seeking immediate value in South Salinas.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 1055 Padre Drive 2 Subject | $465,000* List Price | 2 | 1 | 952 | $565 | - |
A 1051 Riker Street 5 Sold | $532,000 | 2 | 1 | 936 | $568 | 0.2 mi |
B 1053 Riker Street 6 Sold | $475,000 | 1 | 1 | 766 | $620 | 0.2 mi |
C 1056 Padre Drive 8 Sold | $475,000 | 1 | 1 | 766 | $620 | 0.1 mi |
D 1051 Padre Drive 7 Active | $439,000 List Price | 1 | 1 | 915 | $480 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Built in 1985, this property is well-maintained and move-in ready. It features modern laminate flooring throughout and an updated bathroom vanity with a stone top and contemporary fixtures. While the kitchen cabinets appear to be older wood-style, the overall interior is clean and functional with recent cosmetic improvements that align with a 5-15 year renovation cycle.
The home features laminate flooring throughout, offering a stylish, contemporary aesthetic that is both durable and easy to maintain for busy homeowners.
Unlike many condominiums in this size range, this unit includes a full two-car garage, providing significant value through secure parking and additional storage space.
The inclusion of a dedicated indoor laundry area adds a high level of daily functionality and convenience, a highly sought-after feature in smaller residential units.
The monthly HOA fee of $535 is a substantial recurring expense that may impact the overall affordability and debt-to-income ratio for potential buyers.
With only one bathroom serving two bedrooms, the property may face limitations in appealing to families or co-living arrangements compared to units with more bathrooms.
Welcome to this charming 2-bedroom, 1-bathroom home located in the heart of Salinas. Offering 952 sq ft of comfortable living space, this property is ideal for first-time buyers, investors, or those looking to downsize. Inside, the home features laminate flooring throughout, creating a clean and modern feel that is both stylish and easy to maintain. The functional layout provides a cozy living area and a practical kitchen space designed for everyday living. The indoor laundry area offers additional convenience. The property also includes a convenient two-car garage, providing ample parking and storage space. Located in a convenient area of Salinas with easy access to local amenities, schools, shopping, and major routes, this home presents a great opportunity to own a property with comfort, convenience, and potential.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 2.0 | 50% |
| Baths | 1.0 | 1.0 | 50% |
| Square foot | 952 | 870 | 80% |
| Lot Size | 44,431 | - | 60% |
| Price | $465.0K | $475.0K | 40% |
| Price per sq ft | $488 | $568 | 40% |
| Built year | 1985 | 1985 | 50% |
| HOA | $535.0 | $350 | 80% |
| Days on market | 39 | 155 | 20% |
Mar 14, 2026
$465,000
Initial Listing
Apr 27, 2021
$370,000
Public Record
Sep 13, 2016
$299,000
Public Record
May 25, 2012
$130,000
Public Record
Dec 27, 2002
$240,000
Public Record