419 W Flora St - Apartments FOR SALE


Stockton, CA 95203
$1,200,000 USD
209-401-9085
419 W Flora St, Stockton, CA for Sale
$1,200,000 USD
Apartments - FOR SALE
1/8
null | 7.21% Cap Rate

419 W Flora St
Stockton, CA 95203


HIGHLIGHTS

  • Stabilized, turnkey apartment asset with a 7.21% cap rate on current income, priced well below replacement cost.
  • Primarily made up of 1x1s, Downtown Stockton’s most popular unit type.
  • HD camera security system.
  • Recent improvements include exterior paint and 8 of the 10 units being remodeled.

OVERVIEW

Colliers Central Valley Investment Team is pleased to present the Flora Apartments. This 10-unit complex is nestled near Stockton’s desirable Downtown Waterfront district. Professionally maintained and improved far above the standards of nearby properties, this asset provides an investor with a stable income stream and very low management responsibility. The asset is 100% occupied at near market rents, providing an investor with north of a 7% return on current net operating income, with room to grow! The property is made up of Ten (10) units; Eight (8) are 1-bedroom, 1-bathroom units, approximately 482 square feet and Two (2) 2-bedroom, 1-bathroom units, approximately 670 square feet. Located midblock between N. Lincoln and N. Van Buren, the Flora Apartments provides residents easy access to major thoroughfares such as I-5, HWY 4 and HWY 99, as well as the Downtown Waterfront Entertainment District, home to Adventist Health Arena (home to many professional sports teams), Banner Island Ballpark (home of the Stockton Ports Baseball Team), and Weber Point (an outdoor events center).

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$207 USD /SF

# OF UNITS

10

PRICE/UNIT

$120,000

CAP RATE

7.21%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Flora Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1970

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

Low Density Residential

APN/PARCEL ID

137-165-10

ASK ABOUT THIS PROPERTY

Andy HodgsonColliersMore Info
209-401-9085

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Andy HodgsonColliersMore Info
209-401-9085

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.