Description
Excellent opportunity to own historical building located in the revitalization area of Chinatown in South Salinas The property consists of a concrete shell of a 2 story building with approx 5500 sqft of usable space and an attached 3850 sqft single level building. Both buildings are in poor condition as a result of fire damage and deferred maintenance over several decades. The 5500 sqft concrete building has been deemed historic by the city of Salinas. The city will allow adaptive reuse of the structures for up to 25 residential units with minimum size of 350 sqft studios with limited parking and open space requirements. The property is zoned Mixed Use(Focused Growth Overlay 2) with great development potential for multifamily apartments(up to 80 units per acre). With over a half acre of land, there is a possibility of subdividing the lot to create two lots for development. Please check with the city for all possible uses of the site and government incentives to redevelop the property.
Location
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