933 N Madison ST new Save Request In-Person Tour Request Virtual Tour
Stockton,CA 95202
Key Details
Property Type Commercial
Sub Type Five or More Units
Listing Status Active
Purchase Type For Sale
Square Footage 6,208 sqft
Price per Sqft $161
MLS Listing ID ML82013341
Style Custom
Bedrooms 3
Full Baths 2
Year Built 1917
Lot Size 5,000 Sqft
Property Sub-Type Five or More Units
Property Description
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 Stockton Central
Zoning Multi
Rooms
Kitchen Oven Range,Varies by Unit
Interior
Heating Wall Furnace
Cooling None
Flooring Carpet
Exterior
Parking Features On Street
Utilities Available Individual Electric Meters,Individual Gas Meters
View City Lights
Roof Type Composition
Building
Foundation Raised
Sewer Sewer Connected,Sewer in Street
Water Public
Others
Restrictions None
Tax ID 137-140-26
Security Features None
Special Listing Condition Not Applicable