Stockton 2 3 Bedroom Units!
2 Unit Apartment Building | $569,900 ($284,950/Unit) | 6.03% Cap Rate | Stockton, CA 95210
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $569,900
- Property Type
-
Multifamily
- Square Feet
- 2,236 SF
Listing Contacts
Ron Benning
Verified Profile
Shawn Mileham
Verified Profile
- Property Info
Property Overview
: Hard to find Duplex with 2 3-bedroom, 2 bath units located in Wagner Heights (North Stockton). Both units were updated about 7
years ago. This property is located in the Lodi Unified School District. The owners have recently replaced the air conditioners, water heaters, and gutters. The property has a stucco exterior, tile roof, and dual pane windows. Current rents are $2000 a month and $1980 a month with the tenants also paying all utilities. This is equivalent to another $200- $250 a Month. Gross scheduled income is $47,760 with a GRM of 11.93 or about $50,760 and a GRM of 11.22 after factoring in the additional utilities. Proforma Cap rate of 6.03% based on current expenses and projected taxes. You can count on stable rents because both tenants are on the Housing Voucher program with most of the rent GUARANTEED and directly deposited into your account each month. Offer with confidence knowing the seller is providing a pest inspection and whole house inspection that are in the property vault.
years ago. This property is located in the Lodi Unified School District. The owners have recently replaced the air conditioners, water heaters, and gutters. The property has a stucco exterior, tile roof, and dual pane windows. Current rents are $2000 a month and $1980 a month with the tenants also paying all utilities. This is equivalent to another $200- $250 a Month. Gross scheduled income is $47,760 with a GRM of 11.93 or about $50,760 and a GRM of 11.22 after factoring in the additional utilities. Proforma Cap rate of 6.03% based on current expenses and projected taxes. You can count on stable rents because both tenants are on the Housing Voucher program with most of the rent GUARANTEED and directly deposited into your account each month. Offer with confidence knowing the seller is providing a pest inspection and whole house inspection that are in the property vault.
Property Details
- Year Built/Renovated
- 1980/2017
- Stories
- 1
- Lot Size (sq. ft)
- 6,098 SF
- Units
- 2
Highlights
- 2- 3 Bedroom 2 bath Units
- Each Unit has a 2 Car Garage
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