INVESTMENT OVERVIEW

Constructed in 1984, Northridge Manor consists of 32 apartment units and is located at 105 N. Prado Street in Salinas, California. The complex is comprised of 32 two bedroom-one bath apartment units, measuring approximately 750 square feet for a total of 22,500 square feet of residential living area throughout the complex. All units have individual electric and gas meters as well as individual hot water heaters. The property is made up of (4) two-story buildings situated on a lot that is approximately 42, 253 square feet. The buildings have pitched composition shingle roofs, copper plumbing and wood frame construction with stucco exterior that has been recently painted. Some of the units have back patios, and there is plenty of parking with 32 covered spaces and 18 open spaces. There is also an on-site laundry facility with four washers and four dryers as well as a playground nearby.

The property is located in an area of newer development of Salinas. Shopping and dining are conveniently located nearby in Northridge Mall and the Rich Harden Plaza, where stores such as Macy’s, Mervyns, Century 14 Theaters and over 120 specialty stores and restaurants are just blocks away.