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Gated, 1 bedroom 1 bath, 8 unit apartment complex. ready for tenants to move in.
Happy Holidays-Can you believe it--->Now $495,000.00---Two buildings, four unit and large two unit that could a large sinle family home...even with a garage. Excellent FHA financing for an owner user.
August 5, 2013-Security Gated Complex-Two entrances off of Lincoln Road and on the north side, Prado Way---Some units have fireplaces---This complex is a low denisty R-2 zoned property with plenty of open space for people to enjoy, at home, and not somewhere else...Five buildings, two on Lincoln Road house 21 one bedroom, one bath units and three single level fourplex buildings on Prado Way have twelve two bedroom, one bath units. Large storage building with 960 square feet could be a child day care center for the complex. The 33rd unit is a 1 bedroom units used by the manager. plus an office... 900 square foot building could be a senior recreation area or pre school... No pool to worry about...Low density design. Open Spaces within the grounds.
$50,000 PRICE REDUCTION FOR BOTH PROPERTIES NOW $450,000! OWNER WILLING TO SELL PROPERTIES SEPARATELY OR TOGETHER. FREMONT ST SEPARATELY $200,000 & LINDSAY ST SEPARATELY $300,000.THERE ARE TWO SEPARATE PROPERTIES IN THIS PORTFOLIO. 130 E FREMONT ST IS A MIXED USE BUILDING WITH 1-1BD/1BA & 6-STUDIO UNITS UPSTAIRS (4 RENTED & 3 VACANT), AND A SIGN SHOP RETAIL BUSINESS DOWNSTAIRS. 119 E LINDSAY ST IS ALSO A MIXED USE BUILDING WITH 15-STUDIO APARTMENTS UPSTAIRS (ALL VACANT), AND A AUTO SHOP PLUS WAREHOUSE DOWNSTAIRS. STOCKTON CITY HALL & BUILDING DEPARTMENT ACROSS THE STREET ON EL DORADO ST. THERE ARE A TOTAL OF 2 COMMERCIAL RETAIL UNITS AND A TOTAL OF 22 RESIDENTIAL UNITS. THE SIZE OF E LINDSAY ST BUILDING IS UNKNOWN. THERE IS NO BLDG SIZE IN THE PUBLIC RECORD. MAY BE ABLE TO ASSUME EXISTING FINANCING! 119 LINDSAY ST RESIDENTIAL UNITS HAVE BEEN VACANT SO LONG THE CITY WAS CONSIDERING DROPPING THE RESIDENTIAL USE, BUT WILL CONSIDER GRANDFATHERING IF UNITS ARE BROUGHT UP TO CURRENT CODE. PLEASE CHECK WITH BUILDING DEPARTMENT!
BUILT IN 1989 ! 38 UNITS - ALL 2 BEDROOMS - WASHER /DRYER HOOKUPS AND CENTRAL HVAC INSIDE EACH UNIT! NEWER COMPLEX, ON-SITE & OFF-SITE MANAGEMENT, VERY LOW VACANCY, NO DEFERRED MAINTENACE, EXCLLNT CONDITION INSIDE & OUT !! RECENTLY REPLACED MAILBOXES AND ASPHALT !! Units have laundry hookups, water heaters, central hvac, and individually metered PG&E. Most units AT LEAST partially remodeled recently! Gated community w/excellent On-Site AS WELL AS Off-Site Management! Assumable loan is fixed @ 4.4% (to 02/23!!) w/balance of 1.4M. New buyer can explore CONDO CONVERSIONS & Proforma cap rate = much higher ESPECIALLY when buyer may not have two sets of managers, FOR INVESTMENT BUILT IN 1989! Excellent investment to "park" your money while this economy turns around! MOTIVATED SELLER - BRING ALL REASONABLE OFFERS ! TRADES FOR RESIDENTIAL OR INVESTMENT REAL ESTATE IN SAN DIEGO, ALSO CONSIDERED.
TWO STORY 42 UNIT COMPLEX IN GOOD CONDITION WITH STUCCO EXTERIOR. THE BUILDING WAS RECENTLY PAINTED AND THE HVAC WAS REPLACED ABOUT 6 YEARS AGO.
TWO STORY 51 UNIT COMPLEX WITH POOL. SINCE THE PURCHASE IN 2001 BOTH ROOFS HAVE BEEN REPLACED, THE PARKING LOT AND DRIVEWAY WERE REPLACED WITH CONCRETE, A LARGE MAJORITY OF THE UNITS WERE RENOVATED, AND THE ENTIRE ACRE WAS ENCLOSED WITH WROGHT IRON FENCING WITH A NEW ELECTRIC GATE.
8 unit building, each unit same one bedroom one bath configuration. 2 units rented, 6 vacant. 4 units need interior remake, 2 units needs some minor TLC to get to rentable condition. Loan is in foreclosure, no sale date set.
HomeCrest Townhomes consists of 37 Townhome Units on a 1.19 acre gated parcel. The unit mix is comprised of 11 - 1B/1B, 13 - 2B/1.5B, 13 - 3B/1B two-story townhomes. The units have spacious open floor plans and each townhome has its own fenced patio entryway. All of the townhome units are separately metered for electric and gas. Do not disturb tenants.
This is a value add asset. The current property manager (BLR Asset Management) has indicated that this property will need $80k-$100k to upgrade the property so that it can compete for the best tenants in the Stockton Market. Current TIC owners do not have the capital required to bring the existing vacant units to a rent ready status. There are currently (10) vacant units. The vacancy factor used in this marketing package is at 6% to show how this asset should perform. The owners have recently put in approximately $200,000 in upgrades to satisfy the City of Stockton and Fire Department codes. These improvements included, but were not limited to all steel fire doors, fire alarms and interior lighting systems, and a new elevator.