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Est. payment | /mo
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID ML82013341
HOA Y/N No
Year Built 1917
Annual Tax Amount $12,499
Property Description
Significant Price Improvement! Tremendous opportunity to achieve 9%+ cap rate with rental agreements already in place. 8 unit multi-family located near downtown Stockton with great unit mix - two bedroom (5), one bedroom (3). Historically high cash flow performing asset with additional upside. One of the buildings suffered fire damage (to one area of building and unit), and currently vacant but has agreements in place; leases signed, for immediate occupancy once repairs are complete and occupancy certificate issued. All units individually metered, more than half of the current leases have utilities paid by tenants; owner responsibility minimal in terms of utility expenses. Great entry point for investors willing to put in some work, with opportunity for immediate returns on rental income with completion of repairs. Corner lot with ample parking. Utility companies note address as 931-941 N Madison. Contact broker team for further details.
Location
State CA
County San Joaquin
Area 699 - Not Defined
Zoning Multi
Interior
Heating Wall Furnace
Cooling None
Fireplace No
Exterior
Roof Type Composition
Building
Water Public
Schools
School District Other
Others
Tax ID 13714026
Special Listing Condition Standard
Listed by Helen Chong Real Brokerage Technologies
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "