119 Carr Avenue, Salinas, California 93905, Salinas, 93905 - 0 bed, 0 bath
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Salinas, California 93905
This Turnkey Quadruplex Asset represents a High-Potential Investment Opportunity with a List Price of $950,000—positioned well below the $1,086,643 Fair Market Value by 12%. This valuation gap provides $136,643 in Instant Equity. Featuring four detached cottages with an Excellent Condition Rating, the property offers rare tenant privacy and recent pandemic-era updates. With a Garage Conversion Potential for a fifth unit, the site is primed for forced appreciation and increased yield. This is a premier acquisition for Buy-and-Hold Investors or Owner-Occupants seeking a high-yield house-hack.
Property is new construction or fully renovated.
Although originally built in 1941, the property underwent renovations during the pandemic (within the last 5 years), which meets the criteria for excellent condition. Visuals show newer vinyl windows, fresh exterior paint, and new concrete walkways, while the description confirms modern updates to the units.
The property features four individual cottages with no shared walls, offering tenants a rare level of privacy and a single-family residential feel that typically commands higher rental demand.
The possibility of converting the existing garage into a fifth unit provides a significant opportunity for investors to increase density and maximize the property's long-term income potential.
Renovations completed during the pandemic blend modern updates with original charm, reducing the immediate need for major capital expenditures and enhancing the property's aesthetic appeal.
Built in 1941, the property may have aging plumbing, electrical, or structural components that require more frequent maintenance compared to newer multi-family developments.
With a total of 2,050 square feet distributed across four units, the average unit size is relatively small, which may limit the tenant pool to individuals or smaller households.
This property is a unique investment opportunity in the heart of Salinas! This one-of-a-kind 4-unit multi-family property features four separate units, each offering privacy and character that tenants love. With a mix of long-term, stable tenants, this property provides immediate income potential while still offering room for growth. The seller completed select renovations during the pandemic, blending modern updates with the property's original charm. This property has easy access to shopping and dining. It is perfect for investors looking to expand their portfolio or an owner-occupant seeking rental income. The city says converting the garage to a 5th unit is possible, Buyers to verify with the city. Key Features: Four individual cottages No shared walls, offering privacy for tenants Recent updates completed during the pandemic Great potential for value appreciation in a growing rental market Don't miss this rare opportunity to own a charming and income-generating property in Salinas.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 0.0 | 50% |
| Baths | 0.0 | 0.0 | 50% |
| Square foot | 2,050 | 1,726 | 75% |
| Lot Size | 7,500 | 7,450 | 50% |
| Price | $950.0K | $762.5K | 75% |
| Price per sq ft | $463 | $500 | 50% |
| Built year | 1941 | 1941 | 50% |
| HOA | $0 | $0 | 50% |
| Days on market | 38 | 40 | 50% |
Mar 15, 2026
$950,000
Initial Listing