- For Sale $13,950,000
- Property Type Multi-Family
- Property Size 39,327 SF
- Units 50
- Lot Size 6,200 SF
- Cap Rate % 5.45
- NOI / YR $760,275.00
- Zoning MX
- # of Floors 6
- Building Class B
- Year Built 1930
- Year Renovated 2022
- Date Updated May 26, 2026
Description
Mahoney & Associates is pleased to present to the market 301 Main Street in Salinas CA. This iconic six-story property is located in the heart of downtown Salinas and just blocks away from the recently built +/- 100,000 square foot Taylor Farms Headquarters and Monterey County Superior Courthouse. The ground floor of the building is leased to Alvarado Street Brewery’s art deco styled restaurant, Alvarado on Main. Floors 2 – 6 were converted from office space in 2022 to fifty (50) residential studio apartment units. The apartments are equipped with wide-plank oak flooring, stainless steel appliances, quartz countertops, LED illuminated vanity mirrors, and spacious showers. Approximately 5,000 SF of Trex decking has been installed on the roof of the building, as well as a viewrail glass railing around the perimeter of the roof space. The building is equipped with a ButterflyMX Smart Intercom service, laundry rooms on each floor (2 washers and 2 dryers per residential floor), mail room, storage spaces (available at an additional cost), on-site manager, and internal ground floor access to the Alvarado on Main restaurant. The property has been designated historic and is part of the Mills Act Program, which provides significant property tax savings.
Basement ± 5,702 SF
First Floor ± 5,664 SF
First Floor Mezzanine ± 1,526 SF
Second - Sixth Floors ± 5,287 SF/Floor
False
Contacts
Mahoney & Associates
Mahoney & Associates
Mahoney & Associates