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31650305
31650304

109 San Juan Grade Rd, Salinas, CA 93906

MZ
CA CA 01870648
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto
$3,690,000
66 days on market
Updated 66 days ago

109 San Juan Grade Townhomes

Details
APN 253-111-013
Property Type Multifamily
Sub Type Apartment Building
Square Footage 12,120
Units 12
Cap Rate 5.82%
NOI $214,624
Occupancy 97%
Pro-Forma Cap Rate 7.18%
Pro-Forma NOI $265,103
Price per SqFt $304
Year Built 1978
Stories 2
Acreage 0.500
Investment Type Value Add
Ownership Fee Simple

109 San Juan Grade Rd, Salinas, CA 93906

Marketing description

The Zurich Group of Marcus & Millichap is pleased to present 109 San Juan Grade Road in Salinas, California. Situated on a generous half-acre lot, the property consists of twelve (12) 2-Bedroom x 1.5-Bathroom townhouse-style units totaling approximately 12,120 square feet of building area. The well-designed two-story layouts offer a desirable separation of living and sleeping areas, appealing to long-term tenants seeking a more residential feel than traditional apartment living. With all units featuring the same spacious floor plan, the asset provides operational simplicity and consistent rental demand.

The property is ideally positioned within North Salinas, just 0.5 miles from Harden Ranch Plaza, home to national retailers including Walmart Supercenter, Target, CVS, and Marshalls. Northridge Mall is located just over one mile away and offers a variety of shops, restaurants, and a movie theater, further enhancing the property’s convenience and tenant appeal. The asset is also located approximately 0.7 miles from Santa Rita Elementary School and provides easy access to Highway 101, allowing for efficient regional connectivity.

Salinas, known as the “Salad Bowl of the World,” serves as the economic and agricultural hub of Monterey County. The city benefits from a strong local employment base driven by agriculture, food production, healthcare, education, and government services. Compared to Silicon Valley, Salinas offers significantly more attainable rental rates, making it an attractive alternative for residents seeking value while maintaining access to major coastal and employment centers.

The property’s central location places it approximately 23 miles from Monterey, 35 miles from Santa Cruz, and 55 miles from San Jose, providing residents with convenient access to coastal amenities, tourism, and larger job markets. With its townhouse-style configuration, proximity to major retail centers, and strong regional connectivity, 109 San Juan Grade Road presents a compelling investment opportunity in one of Monterey County’s most established residential submarkets.

Salinas is the largest city in Monterey County and serves as the agricultural and economic backbone of the region. The city plays a vital role in the nation’s food supply, with surrounding farmland producing a significant portion of the country’s lettuce, strawberries, broccoli, and other crops. Beyond agriculture, Salinas maintains a diversified employment base that includes healthcare, education, government services, food processing, and distribution, providing stability to the local economy. 

Strategically located along the U.S. Highway 101 corridor, Salinas offers convenient regional access throughout the Central Coast and into Silicon Valley. The city is approximately 23 miles from Monterey, 35 miles from Santa Cruz, and 55 miles from San Jose, making it an attractive option for residents seeking more attainable housing costs while remaining connected to larger coastal and employment centers. This accessibility, combined with comparatively affordable rental rates relative to Silicon Valley, has continued to support steady housing demand. 

Salinas features a range of retail, dining, and entertainment amenities that serve both residents and the broader Monterey County community. Major shopping destinations such as Northridge Mall and Harden Ranch Plaza provide national retailers, restaurants, and entertainment options, while the revitalized downtown area offers local boutiques, coffee shops, and cultural attractions. The city is also home to the National Steinbeck Center, celebrating the legacy of author John Steinbeck, a native of Salinas. 

With its strong agricultural foundation, improving retail corridors, and central location within Monterey County, Salinas continues to attract residents seeking value, space, and connectivity along California’s Central Coast. The city’s combination of economic stability and relative housing affordability positions it as an important residential and commercial hub within the region.


Listing Contacts

MZ
CA CA 01870648
Marcus & Millichap - Palo Alto
Listed by Marcus & Millichap - Palo Alto

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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$214,624.00
$17,885.33/mo

Valuation Metrics

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DSCR
5.82%
Cap Rate
5.82%
ROI

Map

Zoning

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R-H-2.1 ResidentialMulti FamilyResidential High Density
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Last updated May 9, 2026 For deeper zoning details, reports are available at Zoneomics

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Additional Information

Name
Mitchell Zurich
License
CA 01870648
Brokerage
Marcus & Millichap
Brokerage Phone
6503911824
Title
Senior Managing Director
Brokerage Address
2626 Hanover Street
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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