
Salinas, California 93908
This property presents a High-Potential Investment Opportunity with a List Price of $849,000—positioned well below the $879,265 Fair Market Value by 3%. This valuation gap offers $30,265 in Instant Equity for buyers ready to complete the renovation. Featuring a Condition Rating of 5, the home includes stamped approved plans, a new septic system, and a shared well. This is a value-add asset ideal for Fix-and-Flip Investors or Contractors seeking a project with significant infrastructure hurdles already cleared.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 157 San Benancio Road Subject | $849,000* List Price | 3 | 2 | 1,872 | $470 | - |
A 186 San Benancio Road Active | $1,050,000 List Price | 2 | 3 | 1,852 | $567 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1972 (54 years old), the property is currently unlivable as the interior has been completely gutted. While it features a new septic system and approved plans, the total absence of a kitchen, bathrooms, and interior systems necessitates a full rehab, making it ineligible for traditional financing.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 110206, living area = 1872.
With stamped plans approved by Monterey County and building permits ready to pull, the property bypasses the most difficult and time-consuming hurdles of the renovation process.
The installation of a new septic system and a shared well system adds significant tangible value and eliminates the high cost and uncertainty of major utility work.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =110206, other record lot size in square feet = 110006.
The property's current gutted condition makes it ineligible for traditional financing, restricting the sale to cash buyers or those with non-conventional funding sources.
As a complete interior shell, the project requires a significant additional investment of time and capital to complete the build-out before the home is habitable.
This is a rare chance to complete a renovation with much of the preliminary work in the rearview. This 1,872 sq ft, 3-bedroom, 2-bathroom home sits on approximately 2.52 private acres in the San Benancio corridor, and the hardest part is already done: the interior has been gutted, plans are stamped and approved by Monterey County, and the building permit is ready to pull. Bring your vision and your contractor and get to work! In addition, a new septic system and shared well system add real value and remove guesswork. Built in 1972 on a peaceful, oak studded setting, this is an ideal project for investors, owner-builders, or contractors looking to create a custom home in one of Salinas's most desirable rural pockets...minutes from town, with room to breathe. Please note: given its current condition, the property will not qualify for traditional financing...cash buyers and non conventional financing only.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,872 | 1,586.885 |
| Lot Size | 110,206.797 | 6,939.262 |
| Price | $849.0K | $809.5K |
| Price per sq ft | $454 | $527 |
| Built year | 1972 | 1973 |
| HOA | $0 | $218 |
| Days on market | 12 | 46 |
Aug 28, 2026
$849,000
Initial Listing