127 N Madeira Avenue, Salinas, California 93905, Salinas, 93905 - 0 bed, 0 bath
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Salinas, California 93905
This property presents a High-Potential Investment Opportunity as a Triplex Asset, listed at $839,999—positioned well above the $658,266 Fair Market Value by -27%. While the current list price exceeds the estimated value, the 6,000 square foot lot and multi-unit configuration offer significant long-term value-add potential. Given the Condition Rating of 5, the property requires a comprehensive renovation of core systems. This is a strategic acquisition for Buy-and-Hold Investors or Contractors capable of modernizing the infrastructure to maximize rental yields.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 127 N Madeira Avenue Subject | $839,999* List Price | 0 | 0 | 1,616 | $407 | - |
A 615 Terrace Street Active Under Contract | $725,000 List Price | 0 | 0 | 1,607 | $451 | 0.2 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1931 (93 years old) with no documented recent renovations. The reliance on a wall furnace for heating and the absence of a garage or central cooling indicate outdated systems. Given the age and lack of modernization mentioned in the listing, the property likely requires a full rehab of kitchens, baths, and core systems (electrical/plumbing) to meet modern standards.
As a triplex, this property offers a versatile investment opportunity with multiple revenue streams, making it highly attractive for residential income seekers in the Salinas market.
The 6,000 square foot lot provides ample outdoor space and potential for future improvements or the addition of an Accessory Dwelling Unit (ADU) to further increase value.
With 1,616 square feet of living space, the property offers a practical and sizable footprint for a multi-unit residence, ensuring comfortable accommodations for tenants.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1616, other record living area = 1056.
The absence of a garage on the property may be a significant drawback for tenants requiring secure parking or additional storage space.
Built in 1931 and utilizing wall furnaces for heating, the property may require future capital expenditures to modernize its core systems and improve energy efficiency.
Located in Salinas, this property offers a living space of approximately 1,616 square feet on a lot size of about 6,000 square feet. The home features ceiling fans for cooling and a wall furnace for heating. There is no garage on the property. The residence is within the Salinas City Elementary School District. The property does not include a swimming pool. This listing provides a practical option for those seeking a home in the Salinas area with essential amenities and a sizable lot.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 1,616 | - |
| Lot Size | 6,000 | - |
| Price | $840.0K | $869.3K |
| Price per sq ft | $520 | $393 |
| Built year | 1931 | 0 |
| HOA | $0 | $0 |
| Days on market | 23 | 58 |
Jun 29, 2026
$839,999
Initial Listing
Sep 25, 2023
$730,000
Public Record
Jun 29, 2012
$180,000
Public Record
Aug 9, 2010
$130,000
Public Record
Apr 23, 2004
$390,000
Public Record
Oct 13, 2000
$225,000
Public Record