127 N Madeira Avenue, Salinas, California 93905, Salinas, 93905 - 0 bed, 0 bath
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127 N Madeira Avenue
Salinas, California 93905
ACTIVE UNDER CONTRACT
CONDITION: FAIR
0Beds
0Baths
1,616Sq Ft
6,000Lot Size
Property Price
LIST PRICE$789,999
EST. MARKET VALUE
$747,627
5% AboveMARKET VALUE
SUMMARY
This Triplex Residential Income Asset represents a Strong Value Opportunity, listed at $789,999—positioned above the $747,628 Fair Market Value. While the property shows a Condition Rating of 4, its 1931 vintage construction and 6,000-square-foot lot provide a solid foundation for value-add renovations. The inclusion of a deck and high market velocity—evidenced by its rapid move to active under contract—underscores strong rental demand. This property is an ideal acquisition for Buy-and-Hold Investors or House-Hacking Owner-Occupants seeking to capitalize on multi-unit income potential in Salinas.
Estimated Market Value
$747,627
Based on Realkey algorithm analyzing recent comparable sales in Salinas.
Comparable Sales Map
Comparables within 1 miles sold in recently
Map unavailable.
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 127 N Madeira Avenue Subject 0 bd · 0 ba · 1,616 sqft · $463 | $789,999* List Price | 0 | 0 | 1,616 | $463 | - |
A 615 Terrace Street Sold 0 bd · 0 ba · 1,607 sqft · $443 · 0.2 mi | $712,000 | 0 | 0 | 1,607 | $443 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
Property is moderate renovation needed.
Built in 1931, this triplex shows signs of age but appears functional and maintained. The exterior features updated vinyl windows and visible electrical meters suggesting some system updates, but the utility areas and overall aesthetic are dated, likely requiring cosmetic refreshments and minor repairs consistent with a property that hasn't seen a major renovation in over 20 years.
PROSSTRENGTHS & OPPORTUNITIES
- Multi-Unit Income Potential
As a triplex, this property provides a versatile investment opportunity with three separate units, allowing for multiple rental income streams or a house-hacking strategy.
- Strong Market Velocity
The property moved to 'Active Under Contract' status in just 32 days, demonstrating high demand for multi-family residential assets in the Salinas market at this price point.
- Ample Lot Size
The 6,000-square-foot lot offers significant space for a triplex, providing potential for tenant parking or outdoor communal areas which adds value to the rental units.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1616, other record living area = 1056.
- Vintage Construction
Built in 1931, the property likely requires specialized maintenance and may have aging infrastructure or systems that could necessitate future capital expenditures.
- Compact Unit Dimensions
With a total of 1,616 square feet divided among three units, the average living space per unit is quite small, which may limit the tenant pool to single occupants or small households.
About 127 N Madeira Avenue
Exceptional opportunity in Salinas. This spacious residence offers a versatile layout ideal for modern living. Situated on a quiet street in a highly desirable area.
Property Details
Public Facts
- Property Type
- Triplex
- Year Built
- 1931
- Lot Size
- 6,000 Sq. Ft.
Interior
- Total Bedrooms
- 0
- Total Bathrooms
- -
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,616 | 2,444.6 |
| Lot Size | 6,000 | 8,636.4 |
| Price | $790.0K | $907.6K |
| Price per sq ft | $489 | $327 |
| Built year | 1931 | 1949 |
| HOA | $0 | $0 |
| Days on market | 23 | 56 |
Pricing History
Listed for Sale
Oct 1, 2026
$789,999
Initial Listing
Sold
Sep 25, 2023
$730,000
Public Record
Sold
Jun 29, 2012
$180,000
Public Record
Sold
Aug 9, 2010
$130,000
Public Record
Sold
Apr 23, 2004
$390,000
Public Record
Sold
Oct 13, 2000
$225,000
Public Record