Residential Income
405 E Cleveland St Stockton, CA 95204
405 E Cleveland St, Stockton, CA, 95204
$349,500
Pending
For Sale
$349,500
Pending
Residential income property offered for sale near St. Joseph's with rents reported below market.
Property Size1,400 SF
Days on Market172
Property Features for 405 E Cleveland St
General Information
- Standard status
- Pending
- Size
- 1,400 SF
- Property subtype
- Multi Family
Listing agency
Dick Stepken Realtors
(209) 466-4043
Listed by
James Stepken · License #00813793
Source
Exitrealty
Added: Jan 31 Updated: Jul 22 at 5:01AM Checked: Jul 22 at 5:01AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dick Stepken Realtors
Investment Insights
Based on property information with market context.
This residential income property is offered for sale and consists of multiple rental units, positioned to provide upside based on the seller’s reported rent levels being below market.
The property is located just off California near St. Joseph's, with access off the surrounding street network.
As presented, the offering is focused on rental performance adjustment, supported by the reported below-market rents for the existing units.
The property is located just off California near St. Joseph's, with access off the surrounding street network.
As presented, the offering is focused on rental performance adjustment, supported by the reported below-market rents for the existing units.
Key Highlights
- Residential income property offered for sale near St. Joseph's
- Property is located just off California
- Rents are reported below market
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $33.6k | $24.00 |
| − Vacancy | −$2.6k | −$1.87 |
| EGI | $31.0k | $22.13 |
| − OpEx | −$13.9k | −$9.96 |
| NOI | $17.0k | $12.17 |
1,400 SF · lease $24.00/SF/yr · vacancy 7.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$243.4K
$213.0K – $284.0K
NOI $17,039 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$378.6K
$331.3K – $441.7K
NOI $26,502 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Multifamily properties
Similar For Sale Nearby
FAQs
What type of property is this?
Multifamily property - Residential income property offered for sale near St. Joseph's with rents reported below market.
Where is this multifamily property located?
The property is located at 405 E Cleveland St Stockton, CA.
What is the asking price?
The asking price for this property is $349,500.
What are key features of this property?
This property features: Residential income property offered for sale near St. Joseph's; Property is located just off California; Rents are reported below market
