615 Terrace St

Beds
Baths
1,607 Sq. Ft.
$482 / Sq. Ft.
1,607
Sq. Ft.
$482
per Sq. Ft.

Description

Great opportunity to own a fully rented triplex in east salinas! The front unit is a mostly remodeled 2 bedroom 1 bath unit with updated flooring, kitchen cabinets and countertops. The back unit is a 2 bedroom 1 bath with tile flooring and open floor plan with a small fenced backyard. The 3rd unit is a 1 bedroom 1 bathroom with tile flooring and storage shed in backyard. Rents are low for each unit and could easily be doubled over time, subject to Salinas rental ordinance. Owner covers trash, septic...Great opportunity to own a fully rented triplex in east salinas! The front unit is a mostly remodeled 2 bedroom 1 bath unit with updated flooring, kitchen cabinets and countertops. The back unit is a 2 bedroom 1 bath with tile flooring and open floor plan with a small fenced backyard. The 3rd unit is a 1 bedroom 1 bathroom with tile flooring and storage shed in backyard. Rents are low for each unit and could easily be doubled over time, subject to Salinas rental ordinance. Owner covers trash, septic and water which potentially could be costs transferred to the tenants over time as well. There is plenty of room for improvements to be made that would reflect in an increase in equity position and cashflow for this property. Close proximity to shopping, restaurants, hwy 101 and local schools. This is truly a great investment opportunity for the right buyer!
  1. Listed by Sean Griffin • DRE #01466508 • Brokerage DRE #02014153 • Agency One Real Estate • 831-262-1955

Property Details for 615 Terrace Street

MLS City Name
SALINAS
Building Type
TRIPLEX
Garage Spaces
0
Parking Spaces
3
LISTING UPDATED: 03/18/2026 03:25 PM

Property Details for 615 Terrace Street

StatusActive
MLS #ML82039241
Days on Compass13
Taxes$7,750 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeRESIDENTIAL INCOME / TRIPLEX
Year Built1951
Lot Size0.13 AC / 5,674 SF
CountyMonterey County

Location

Listing Courtesy of Agency One Real Estate, Sean Griffin, DRE #01466508
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Building Information for 615 Terrace Street

Stories1Residences3Year Built1951Building Size-Lot Size0.13 AC / 5,674 SF

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$4,407 per month

30 year fixed, 6.11% Interest

Principal and Interest

$3,761

Property Taxes

$646

HOA Dues

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Property Information for 615 Terrace Street

Features
Features
  • Fireplace: No
  • Living SqFt: 1607
  • Pool: No
  • Security Features: None
  • Special Features: None
Utilities
  • Cooling: None
  • Heating: Wall Furnace
  • Meters: Master Water, Separate Electric, Separate Gas
  • Sewer Septic: Sewer - Public
  • Utilities: Individual Electric Meters, Individual Gas Meters, Public Utilities
  • Water: Public
Carport and Parking
  • Carport Min: 0
Garage
  • Garage and Parking: Common Parking Area
Property Details
Homeowners Association
  • HOA Exists: 0
  • HOA Fee: $0
Property Details
  • Area Text: ES-66
  • Roof: Composition
  • Subclass: Triplex
  • Year Built Source: Assessor
  • Street Number: 615
  • Street Name: Terrace
  • Street Suffix: Street
  • Area ID: 66
Lot / Property Details
Building Information
  • Number Of Stories: 1
  • Number of Buildings: 2
  • Structure SqFt: 1607
  • Structure SqFt Source: Assessor
  • Age: 75
Development Information
  • Zoning Detail: HDR
Location Information
  • City Limits: Yes
  • Incorporated: Yes
  • Parcel Number: 004-081-025-000
  • County Name: Monterey
  • City Name: SALINAS
  • City Postal ID: 5389
  • Postal Code: 93905
  • Elementary School District: 441
  • High School District Text: Salinas Union High
Lot Information
  • Foundation: Concrete Slab
  • Horse Property: No
  • Lot Size Area Maximum Units: Square Feet
  • Lot Size Area Minimum Units: Square Feet
  • Lot Size Source: Assessor
Multi Family Information
Building Information
  • No Of Leased: 2
General Information
  • Annual Tax Amount: $7,750
  • Building Unit Total: 3
  • Capitalization Rate: 2.80
  • Tenant Expenses: Utilities - Electric, Utilities - Gas
  • Income Includes: Rents
  • Vacancy Factor: 1
Income / Expense Details
  • Expense Insurance: $1,500
  • Expense Landscape: $0
  • Expense Maintenance: $500
  • Expense Management: $2,730
  • Expense Trash: $1,651
  • Expenses Other: $0
  • Expenses Utility: $3,940
  • Expenses Total: $18,071
  • Operating Expenses Include: Fee - Property Management, Fee - Property Tax, Maintenance, Services - Sewer, Services - Trash Removal, Utilities - Water
  • Gross Rent Multiplier: 19.28
  • Income Annual Gross: $39,798
  • Income Annual Rental: $40,200
  • Income Gross Scheduled: $40,200
  • Income Other: $0
Unit 1 Information
  • Unit 1 Full Bathrooms: 1
  • Unit 1 Number of Bedrooms: 2
  • Unit 1 Rent: $1,300
Unit 2 Information
  • Unit 2 Approx Square Footage: 575
  • Unit 2 Full Bathrooms: 1
  • Unit 2 Number of Bedrooms: 2
  • Unit 2 Rent: $1,100
Unit 3 Information
  • Unit 3 Approx Square Footage: 307
  • Unit 3 Full Bathrooms: 1
  • Unit 3 Number of Bedrooms: 1
  • Unit 3 Rent: $950
Unit Type 1
  • Unit Type1 Approx SqFt: 725

Property History for 615 Terrace Street

DateEvent & SourcePriceAppreciation
Mar 18, 2026

Listed (Active)

EBRD #ML82039241

$775,000
Mar 18, 2026

Listed (Active)

MLSListings #ML82039241

$775,000
Oct 27, 2010

Price Change

RESFAR #80621973

$726,999
Sep 30, 2009

Sold

EBRD #ML80905690

$170,000
Sep 30, 2009

Sold

RESFAR #80905690

$170,000
Sep 30, 2009

Sold

MLSListings #ML80905690

$170,000
Sep 24, 2009

Sold (Public Record)

Public Record #276150562

$170,000

-29.0% / yr

Jul 28, 2009

Pending

MLSListings #ML80905690

Jul 28, 2009

Pending

RESFAR #80905690

Jul 28, 2009

Pending

EBRD #ML80905690

Feb 2, 2009

Price Change

RESFAR #80905690

$250,000
Feb 2, 2009

Listed (Active)

RESFAR #80905690

$150,000
Feb 2, 2009

Listed (Active)

MLSListings #ML80905690

$250,000
Feb 2, 2009

Listed (Active)

EBRD #ML80905690

$250,000
Oct 20, 2006

Expired

EBRD #ML80621973

Oct 19, 2006

Expired

RESFAR #80621973

Oct 19, 2006

Expired

MLSListings #ML80621973

$726,999
Apr 19, 2006

Price Change

RESFAR #80621973

$739,999
Apr 19, 2006

Listed (Active)

EBRD #ML80621973

$739,999
Apr 19, 2006

Listed (Active)

RESFAR #80621973

$726,999
Apr 19, 2006

Listed (Active)

MLSListings #ML80621973

$739,999
Apr 17, 2006

Expired

EBRD #ML80561504

Apr 16, 2006

Expired

RESFAR #80561504

Apr 16, 2006

Expired

MLSListings #ML80561504

$775,000
Oct 15, 2005

Listed (Active)

RESFAR #80561504

$775,000
Oct 15, 2005

Listed (Active)

MLSListings #ML80561504

$775,000
Oct 15, 2005

Listed (Active)

EBRD #ML80561504

$775,000
Aug 4, 2005

Sold

EBRD #ML80531895

$705,000
Aug 4, 2005

Sold

RESFAR #80531895

$705,000
Aug 4, 2005

Sold

MLSListings #ML80531895

$705,000
Jul 27, 2005

Sold (Public Record)

Public Record #161999554

$705,000

+23.2% / yr

Jun 24, 2005

Pending

MLSListings #ML80531895

Jun 24, 2005

Pending

RESFAR #80531895

Jun 24, 2005

Pending

EBRD #ML80531895

Jun 8, 2005

Listed (Active)

RESFAR #80531895

$705,000
Jun 8, 2005

Listed (Active)

EBRD #ML80531895

$705,000
Jun 8, 2005

Listed (Active)

MLSListings #ML80531895

$705,000
Mar 6, 2002

Expired

MLSListings #ML80149590

$330,000
Mar 6, 2002

Expired

RESFAR #80149590

Dec 7, 2001

Sold (Public Record)

Public Record #81381250

$330,000
Oct 25, 2001

Expired

EBRD #ML80149590

Sep 6, 2001

Listed (Active)

RESFAR #80149590

$330,000
Sep 6, 2001

Listed (Active)

MLSListings #ML80149590

$330,000
Sep 6, 2001

Listed (Active)

EBRD #ML80149590

$330,000
Dec 30, 1999

Expired

RESFAR #89924960

Dec 30, 1999

Expired

MLSListings #ML89924960

$205,000
Aug 26, 1999

Expired

EBRD #ML89924960

Jun 6, 1999

Listed (Active)

MLSListings #ML89924960

$205,000
Jun 6, 1999

Listed (Active)

RESFAR #89924960

$205,000
Jun 6, 1999

Listed (Active)

EBRD #ML89924960

$205,000
DateEvent & SourcePrice
03/18/2026

Listed (Active)

EBRD #ML82039241

$775,000
03/18/2026

Listed (Active)

MLSListings #ML82039241

$775,000
10/27/2010

Price Change

RESFAR #80621973

$726,999
09/30/2009

Sold

EBRD #ML80905690

$170,000
09/30/2009

Sold

RESFAR #80905690

$170,000
09/30/2009

Sold

MLSListings #ML80905690

$170,000
09/24/2009

Sold (Public Record)

Public Record #276150562

$170,000

-29.0% / yr

07/28/2009

Pending

MLSListings #ML80905690

07/28/2009

Pending

RESFAR #80905690

07/28/2009

Pending

EBRD #ML80905690

02/02/2009

Price Change

RESFAR #80905690

$250,000
02/02/2009

Listed (Active)

RESFAR #80905690

$150,000
02/02/2009

Listed (Active)

MLSListings #ML80905690

$250,000
02/02/2009

Listed (Active)

EBRD #ML80905690

$250,000
10/20/2006

Expired

EBRD #ML80621973

10/19/2006

Expired

RESFAR #80621973

10/19/2006

Expired

MLSListings #ML80621973

$726,999
04/19/2006

Price Change

RESFAR #80621973

$739,999
04/19/2006

Listed (Active)

EBRD #ML80621973

$739,999
04/19/2006

Listed (Active)

RESFAR #80621973

$726,999
04/19/2006

Listed (Active)

MLSListings #ML80621973

$739,999
04/17/2006

Expired

EBRD #ML80561504

04/16/2006

Expired

RESFAR #80561504

04/16/2006

Expired

MLSListings #ML80561504

$775,000
10/15/2005

Listed (Active)

RESFAR #80561504

$775,000
10/15/2005

Listed (Active)

MLSListings #ML80561504

$775,000
10/15/2005

Listed (Active)

EBRD #ML80561504

$775,000
08/04/2005

Sold

EBRD #ML80531895

$705,000
08/04/2005

Sold

RESFAR #80531895

$705,000
08/04/2005

Sold

MLSListings #ML80531895

$705,000
07/27/2005

Sold (Public Record)

Public Record #161999554

$705,000

+23.2% / yr

06/24/2005

Pending

MLSListings #ML80531895

06/24/2005

Pending

RESFAR #80531895

06/24/2005

Pending

EBRD #ML80531895

06/08/2005

Listed (Active)

RESFAR #80531895

$705,000
06/08/2005

Listed (Active)

EBRD #ML80531895

$705,000
06/08/2005

Listed (Active)

MLSListings #ML80531895

$705,000
03/06/2002

Expired

MLSListings #ML80149590

$330,000
03/06/2002

Expired

RESFAR #80149590

12/07/2001

Sold (Public Record)

Public Record #81381250

$330,000
10/25/2001

Expired

EBRD #ML80149590

09/06/2001

Listed (Active)

RESFAR #80149590

$330,000
09/06/2001

Listed (Active)

MLSListings #ML80149590

$330,000
09/06/2001

Listed (Active)

EBRD #ML80149590

$330,000
12/30/1999

Expired

RESFAR #89924960

12/30/1999

Expired

MLSListings #ML89924960

$205,000
08/26/1999

Expired

EBRD #ML89924960

06/06/1999

Listed (Active)

MLSListings #ML89924960

$205,000
06/06/1999

Listed (Active)

RESFAR #89924960

$205,000
06/06/1999

Listed (Active)

EBRD #ML89924960

$205,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 615 Terrace Street

Taxable ValueLand$96,803Additions$122,620Total$219,423
Tax Record2025$2,817 ($235 / month)
Home Facts
Baths3Total Finished SqFt652 SqFtAbove Grade Finished SqFt652 SqFtStories1Lot Size5,673 SqFtStyleMulti-Family Dwelling (2-4)Year Built1951CountyMONTEREYAPN004-081-025-000Fireplace TypeHas Fireplace

Schools near 615 Terrace Street

This home is within Salinas Union High School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Public - K to 6
Public - K to 6
Public - 7 to 8
Rating
School
Distance
Natividad Elementary School
PublicK to 6

Loma Vista Elementary School
PublicK to 6

El Gabilan Elementary School
PublicK to 6

Washington Middle School
Public7 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Similar Sold Homes

615 Terrace Street is a multi-family home for sale in Salinas, CA 93905. This property was listed for sale on March 18, 2026 by Agency One Real Estate, it's currently listed at $775,000. It has been on the market for a total of 13 days and was last sold on September 30, 2009. This listing's school districts are Salinas Union High School District, Salinas City Elementary School District. Nearby schools include Natividad Elementary School, Loma Vista Elementary School and El Gabilan Elementary School. 615 Terrace Street is a 0-bed, 0-bath, 1,607 sqft multi-family home built in 1951.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Agency One Real Estate, Sean Griffin, DRE #01466508

Based on information from one of the following Multiple Listing Services: San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by San Francisco Association of Realtors, the MLSListings MLS, the BAREIS MLS, the EBRD MLS, Shasta Association of REALTORS® is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.