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11320 Sanchez St 17 Unit Apartment Building $6,531,540 CAD ($384,208 CAD/Unit) 6.04% Cap Rate Castroville, CA 95012
Executive Summary
17-unit multifamily investment opportunity in the coastal market of Castroville. The property features a highly desirable unit mix of 2-bedroom, 1-bath units, well-suited for strong workforce and family rental demand in the area.
The asset offers a combination of stable in-place income with value-add potential, supported by newer roofs installed within the last five years. Units feature functional layouts with durable finishes, and the property includes on-site coin-operated laundry and designated tenant parking, enhancing convenience and retention.
Strategically located with easy access to Highway 1 and Highway 183, providing connectivity to Salinas, Monterey, and Santa Cruz employment hubs. Castroville continues to experience strong rental demand driven by limited housing supply and its position as a more affordable alternative to surrounding coastal markets.
The asset offers a combination of stable in-place income with value-add potential, supported by newer roofs installed within the last five years. Units feature functional layouts with durable finishes, and the property includes on-site coin-operated laundry and designated tenant parking, enhancing convenience and retention.
Strategically located with easy access to Highway 1 and Highway 183, providing connectivity to Salinas, Monterey, and Santa Cruz employment hubs. Castroville continues to experience strong rental demand driven by limited housing supply and its position as a more affordable alternative to surrounding coastal markets.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$560,169
|
$34.72
|
| Other Income |
$51,585
|
$3.20
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$611,754
|
$37.92
|
| Taxes |
$89,525
|
$5.55
|
| Operating Expenses |
$127,825
|
$7.92
|
| Total Expenses |
$217,350
|
$13.47
|
| Net Operating Income |
$394,404
|
$24.45
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $560,169 |
| Annual Per SF | $34.72 |
| Other Income (CAD) | |
|---|---|
| Annual | $51,585 |
| Annual Per SF | $3.20 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $611,754 |
| Annual Per SF | $37.92 |
| Taxes (CAD) | |
|---|---|
| Annual | $89,525 |
| Annual Per SF | $5.55 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $127,825 |
| Annual Per SF | $7.92 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $217,350 |
| Annual Per SF | $13.47 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $394,404 |
| Annual Per SF | $24.45 |
Property Facts
| Price | $6,531,540 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $384,208 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.34 AC |
| Cap Rate | 6.04% | Building Size | 16,132 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 17.46 | No. Stories | 2 |
| No. Units | 17 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.24/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | HDR | ||
| Price | $6,531,540 CAD |
| Price Per Unit | $384,208 CAD |
| Sale Type | Investment |
| Cap Rate | 6.04% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 17.46 |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 16,132 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1964 |
| Parking Ratio | 1.24/1,000 SF |
| Zoning | HDR |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 17 | $3,124 CAD | 870 |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 030-074-006-000 | Total Assessment | $2,815,721 CAD |
| Land Assessment | $639,932 CAD | Annual Taxes | $89,525 CAD ($5.55 CAD/SF) |
| Improvements Assessment | $2,175,789 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
030-074-006-000
Land Assessment
$639,932 CAD
Improvements Assessment
$2,175,789 CAD
Total Assessment
$2,815,721 CAD
Annual Taxes
$89,525 CAD ($5.55 CAD/SF)
Tax Year
2025
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11320 Sanchez St
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