On offer is an exceptionally maintained cash flowing 8 unit in Stockton with market rents of $750/unit. This 2 story multiplex sits on an low maintenance lot and offers investors a way to easily expand into the rapidly growing Stockton submarket. With less than 2% vacancy, a buoyant rental market and very little multifamily inventory, these units stay full and all tenants are paying. There is great upside for rents over time. There is no deferred maintenance as the current owner recently performed a home inspection and repaired all issues. With a professional management company in place, this is an easy to own commercial asset. 3/4 of the units have new flooring or upgrades made in the last 2 years. There is 2 year old commercial Roof with a 15 year warranty. There is considerable capital upside and a current NOI of 6.5%.
|--||New Value: $729,000|
|5/13/2020 2:16:00 PM||New Value: $750,000|