Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

939 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Sunset Apartments 623-627 N Edison St

22 Unit Apartment Building $2,475,000 ($112,500/Unit) 6.51% Cap Rate Stockton, CA 95203

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Close to downtown Stockton

Recent improvements include 12 remodeled units

Executive Summary

Great Opportunity! To own an investment property, close to downtown Stockton with a Cap rate of over 6.8% with opportunity to increase rents. This 22-unit apartment building consists of 3 two bedrooms, 11 one bedrooms, and 8 studios. Property has been completely renovated and most units have tile flooring, dual pane windows, Granite Countertops/New kitchen. Recent improvements include 12 remodeled units 2022/2023 Multiple units with new appliances, All units wall heater maintenance, weatherproofing performed 2022/2023 Multiple units drain lines upgraded to ABS. 2023 Exterior painting of all buildings, metal fence, & railing, 623 N Edison electric panel completely rewired to bring up to code, Newer 270K BTU Commercial water heater & new 100ft 1 1/4 gas pipe to water heater from meter, roof waterproofing, gutters and inspection report available for 627 N Edison. Section of new gutters and downspout installed at 623 N Edison. 2021 new CPVC hot water pipe to 627 N Edison, New wooden staircase 627 N Edison. 2020 new 110 linear feet ABS sewer lines to city main sewer connection. A MUST SEE! See Memorandum attached.

Offering Memorandum

Property Facts

Price	$2,475,000	Building Class	C
Price Per Unit	$112,500	Lot Size	0.35 AC
Sale Type	Investment	Building Size	11,200 SF
Cap Rate	6.51%	Average Occupancy	100%
Sale Conditions	1031 Exchange	No. Stories	2
No. Units	22	Year Built	1950
Property Type	Multifamily	Parking Ratio	1.43/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low Rise

Price	$2,475,000
Price Per Unit	$112,500
Sale Type	Investment
Cap Rate	6.51%
Sale Conditions	1031 Exchange
No. Units	22
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.35 AC
Building Size	11,200 SF
Average Occupancy	100%
No. Stories	2
Year Built	1950
Parking Ratio	1.43/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.