220 Pajaro Street, Salinas, California 93901, Salinas, 93901 - 3 bed, 2 bath
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220 Pajaro Street
Salinas, California 93901
ACTIVE
CONDITION: POOR
3Beds
2Baths
1,538Sq Ft
6,206Lot Size
Property Price
LIST PRICE$750,000
EST. MARKET VALUE
$691,153
8% AboveMARKET VALUE
SUMMARY
This Strategic Mixed-Use Asset is listed at $650,000, reflecting its prime location and significant redevelopment potential despite a $598,231 Fair Market Value. With a Condition Rating of 5, the 1917 structure requires modernization, yet offers immediate usability within the downtown Salinas core. The property’s primary value lies in its Prime Mixed-Use Zoning and the rare Strategic Assemblage Potential with the adjacent parcel. This opportunity is specifically positioned for Developers or Buy-and-Hold Investors seeking to capitalize on long-term urban growth and design flexibility.
Estimated Market Value
$691,153
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 |
|---|---|---|---|---|---|---|
★ 220 Pajaro Street Subject | $750,000* List Price | 3 | 2 | 1,538 | $449 | - |
A 40 Oak Sold | $680,000 | 3 | 2 | 1,324 | $514 | 0.8 mi |
B 333 West Street Sold | $720,000 | 2 | 1 | 1,286 | $560 | 0.5 mi |
C 54 Katherine Avenue Sold | $575,000 | 2 | 1 | 988 | $582 | 1.0 mi |
D 50 Katherine Avenue Sold | $560,000 | 2 | 1 | 1,072 | $522 | 1.0 mi |
E 311 Amherst Drive Sold | $760,000 | 2 | 2 | 1,443 | $527 | 0.9 mi |
F 906 Bautista Drive Active | $814,000 List Price | 3 | 2 | 1,369 | $595 | 1.0 mi |
* Subject property listed price vs sold prices of comps.
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Poor
TeardownExcellent
Property is extensive renovation needed.
Built in 1917, the property exhibits significant aging infrastructure and deferred maintenance. The exterior image shows visible wear on the roof, and the listing description explicitly notes the need for substantial capital investment for modernizing systems and structural repairs. While currently functional, its primary value is positioned in its redevelopment potential and mixed-use zoning rather than its current condition.
PROSSTRENGTHS & OPPORTUNITIES
- Prime Mixed-Use Zoning
Located in the core of downtown Salinas, the property offers flexible zoning for retail, office, or live/work configurations, providing diverse options for investors and owner-users.
- Strategic Assemblage Potential
The rare opportunity to purchase the adjacent parcel at 214 Pajaro Street allows for a larger development site, significantly enhancing scale and long-term value.
- Immediate Usability
With existing improvements and functional space, the property can generate immediate income or be occupied while planning for future repositioning or redevelopment.
CONSRISKS & DEFICIENCIES
- Aging Infrastructure
Built in 1917, the property may require substantial capital investment for modernizing systems and structural repairs to meet contemporary commercial or residential standards.
- Development Complexity
Realizing the property's full potential as a mixed-use or redeveloped site requires navigating municipal verification and potentially complex permitting processes.
About 220 Pajaro Street
Adjoining parcel at 214 Pajaro Street is listed separately and available for purchase, creating an approximately 13,000± SF Mixed Use (MU) assemblage opportunity. Due diligence package on Disclosures.IO http://app.disclosures.io/link/220-Pajaro-Street-ydcys2m5 includes City planning correspondence, mixed-use zoning information, development standards, inspection reports, termite report, and repair estimates. Commercial financing, redevelopment, investor, and owner-user inquiries are welcome. Buyers agents are encouraged to have clients review disclosures before preparing offers. Property offered AS-IS. Proof of funds or lender pre-approval requested with offers. Buyer to verify zoning, lot consolidation potential, density, height, parking, permits, and intended uses with the City of Salinas Planning Department. Interior showings by appointment.
Property Details
Public Facts
- Property Type
- Single Family Residence
- Year Built
- 1917
- Lot Size
- 6,206 Sq. Ft.
Interior
- Total Bedrooms
- 3
- Total Bathrooms
- 2 (2 Full, 0 Half)
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 | 3.0 | 3.0 |
| Baths | 2.0 | 2.0 |
| Square foot | 1,538 | 1,586.885 |
| Lot Size | 6,206 | 6,939.262 |
| Price | $750.0K | $809.5K |
| Price per sq ft | $488 | $527 |
| Built year | 1917 | 1973 |
| HOA | $0 | $218 |
| Days on market | 181 | 46 |
Pricing History
Listed for Sale
Jun 27, 2026
$750,000
$650,000
+15% Price Increase
Initial Listing
Price Change
Mar 12, 2026
$650,000
Initial Listing
Sold
Dec 30, 2009
$215,000
Public Record