1155 E. Laurel, Drive consists of 14 two-bedroom / one-bathroom apartments.
The complex benefits from many capital improvements in recent years including:
New composition roof (2018)
Stainless steel stairs and walkway repairs
The main electric panel
Water line shutoffs for each unit
12 units have had interior remodeling with new cabinets, appliances, counters, flooring, and bathroom surrounds.
New water heater 2024
Most units are due for a 2025 rent increase.
Market rents are estimated at $2200.
Each unit has its natural gas wall furnace.
The buildings were painted in 2020.
The parking lot is concrete.
There is minimal exterior landscaping.
The laundry equipment is leased. The monthly cost is $128.
The stoves are electric, and most units have a vent hood.
The complex is estimated at 11,200 square feet. The lot size is 14,536 square feet.
The owner pays for sewer, garbage, house PG&E, and water.
Salinas & Monterey County Facts:
The 2021 estimated population of Salinas is 162,791, according to the US Census Bureau.
The estimated population of Monterey County is 437,907.
According to the Monterey County Farm Bureau, in addition to crops produced, agriculture contributes over $3.9 billion per year to Monterey County's economic output, with a total estimated impact of over $11.7 billion on the local economy.
Significant employers include Monterey County, Salinas Valley Memorial Hospital, Natividad Medical Center, Taylor Farms, Dole Vegetables, 1st Capital Bank, the hospitality industry, and the construction industry.
The Monterey Peninsula's significant employers include Pebble Beach Company, Monterey Bay Aquarium, Naval Post Graduate School, Defense Language School, and the CSU Monterey Bay.
Salinas is a commuter community for the Monterey Peninsula, Watsonville, Santa Cruz, Gilroy, Morgan Hill, and Silicon Valley.
