948, 956 & 962 Lupin Dr, Salinas CA 93906 948 Lupin Dr 18 Unit Apartment Building $5,341,869 CAD ($296,770 CAD/Unit) 6.38% Cap Rate Salinas, CA 93906

948, 956 & 962 Lupin Dr is a rare assemblage of three contiguous 6-unit multifamily assets located in the coastal city of Salinas, California. Situated on a combined 0.616 acres of land, the subject property features a gross rentable area of approximately 15,985 square feet, offering tenants spacious two bedroom floor plans. Tenants also enjoy convenient amenities such as on-site laundry and private covered parking. 948 Lupin Dr in Salinas, CA sits in a well-positioned North Salinas neighborhood with convenient access to everyday lifestyle amenities and major transportation corridors, making it an attractive multifamily asset. Residents enjoy close-by shopping centers such as Sherwood Gardens and East Laurel Square, local dining options, and essential services within a short drive, while parks and regional recreation like Fort Ord National Monument and Marina State Beach are easily accessible for outdoor activities.
The property also benefits from proximity to key transportation infrastructure, including U.S. 101 and State Routes 68 and 183, which provide quick regional connectivity throughout Monterey County and beyond, as well as local bus service by Monterey-Salinas Transit with connections at the nearby Salinas Intermodal Transportation Center offering Amtrak and bus connections. Additionally, the growing active transportation network of bikeways and sidewalks enhances walkability and access to community destinations, supporting a balanced urban lifestyle for tenants. The investment appeal of this asset is driven by Salinas' strong employment fundamentals and low vacancy levels. With a world-class location in the heart of Monterey County, 948, 956 & 962 Lupin Dr presents an attractive choice for renters due to close proximity to major employers, transportation corridors, shopping, dining, and entertainment options.