3140-3150 Belvedere Ave
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3140-3150 Belvedere Ave
8 Unit Apartment Building $899,000 ($112,375/Unit) 6.91% Cap Rate Stockton, CA 95205
Investment Highlights
- Situated at the Corner of Belvedere Avenue and Wilson Way
- Leased Billboard for Additional Income
- Located in Stockton’s Opportunity Zone
- Located in a Strong Rental Market
- Some Units Have Been Remodeled
Executive Summary
3140 & 3150 Belvedere Avenue enjoys two separate buildings on the one parcel, and has a billboard on the site leased out to a local billboard company.
3140 Belvedere Avenue - The building is a 3-bedroom, 1-bath single family home, comprising of approximately 1,100 square feet. The home has private and secure parking and a fenced yard.
3150 Belvedere Avenue - The building is comprised of 7 apartment units, all of which are 1-bedroom, 1-bath units. Each unit is approximately 500 square feet, and 4 of the 7 units have recently been remodeled. The remodel included such upgrades as; new flooring, new paint, new ceiling fans, new baseboards, etc. All units are separately metered for gas and electric.
On-site Billboard - Right on the corner of 3150 Belvedere Avenue and Wilson Way, the site has a double-face, 6 x 12 foot billboard. The billboard is leased to Anchor Billboards for a period of 6 years, expiring in 2027. Anchor Billboards is a local, Stockton-based company that offers a variety of advertising throughout the California Central Valley.
3140 Belvedere Avenue - The building is a 3-bedroom, 1-bath single family home, comprising of approximately 1,100 square feet. The home has private and secure parking and a fenced yard.
3150 Belvedere Avenue - The building is comprised of 7 apartment units, all of which are 1-bedroom, 1-bath units. Each unit is approximately 500 square feet, and 4 of the 7 units have recently been remodeled. The remodel included such upgrades as; new flooring, new paint, new ceiling fans, new baseboards, etc. All units are separately metered for gas and electric.
On-site Billboard - Right on the corner of 3150 Belvedere Avenue and Wilson Way, the site has a double-face, 6 x 12 foot billboard. The billboard is leased to Anchor Billboards for a period of 6 years, expiring in 2027. Anchor Billboards is a local, Stockton-based company that offers a variety of advertising throughout the California Central Valley.
Property Facts
| Price | $899,000 | Apartment Style | Low Rise |
| Price Per Unit | $112,375 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.51 AC |
| Cap Rate | 6.91% | Building Size | 8,318 SF |
| Gross Rent Multiplier | 8.54 | No. Stories | 1 |
| No. Units | 8 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 1.43/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $899,000 |
| Price Per Unit | $112,375 |
| Sale Type | Investment |
| Cap Rate | 6.91% |
| Gross Rent Multiplier | 8.54 |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 8,318 SF |
| No. Stories | 1 |
| Year Built | 1972 |
| Parking Ratio | 1.43/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 500 |
| 3+1 | 1 | - | 1,100 |
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PROPERTY TAXES
| Parcel Number | 119-043-33 | Improvements Assessment | $111,392 |
| Land Assessment | $123,768 | Total Assessment | $235,160 |
PROPERTY TAXES
Parcel Number
119-043-33
Land Assessment
$123,768
Improvements Assessment
$111,392
Total Assessment
$235,160
zoning
| Zoning Code | Low Density Residential |
| Low Density Residential |
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3140-3150 Belvedere Ave
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