Stockton Fourplex Near
For Sale
$520,000
905 N Commerce St, Stockton, CA 95202
Four-unit property in Stockton's Civic Center / Downtown area.
Property Size2,760 SF
Days on Market118
Property Features for 905 N Commerce St
General Information
Standard status
Active
Size
2,760 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$4,006
Building Details
Building Size
2,760 SF
Year Built
1917
Stories
2
Units
4
Listing Agency:
Synergize Realty
(408) 750-6425
Listed By:
Robert M. Balina · License #01263881
(408) 750-6425
Source:
Elliman
Added: Apr 24
Changed: Aug 8
Last Checked: Aug 19 at 12:25PM
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 Synergize Realty
Investment Insights
Based on property information with market context.
Located on a corner lot in the Civic Center / Downtown Stockton area, this fourplex property is within walking distance of Dignity Health St. Joseph's Medical Center and a short bike ride from the Miracle Mile. The location provides easy access to restaurants, bars, shops, and the Stockton waterfront and arena. Each unit features one bedroom and one bathroom, with hardwood and tile flooring throughout. Some bathrooms and kitchens have been recently updated. The units are equipped with floor furnaces for heating and wall AC units for cooling. Laundry hookups are conveniently located in the basement. A clean, spacious backyard and two driveways provide ample private parking. The detached garage offers potential for future use. The property is fully occupied with updated leases. Situated in an Opportunity Zone, it qualifies for combined ADU development incentives. The bike score is 66, indicating it is bikeable. The walk score is 89, indicating it is very walkable. The transit score is 44, indicating some transit options are available.
Key Highlights
- Excellent location: Walking distance to Dignity Health St. Joseph's Medical Center and close to restaurants, bars, shops, Stockton waterfront, and arena.
- Strong investment potential: Fully occupied with updated leases and upside potential.
- Opportunity Zone location: Qualifies for ADU development incentives.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,639
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.43%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$772,780
$772.8K
Cap Rate 7%
$551,986
$552.0K
Cap Rate 9%
$429,322
$429.3K
Market Conditions
NOI Build-Up for 2,760 SF
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.
Gross rent
$59.6K $21.60/SF
− Vacancy
−$4.4K −$1.60/SF
EGI
$55.2K $20.00/SF
− OpEx
−$16.6K −$6.00/SF
NOI
$38.6K $14.00/SF
Area
Stockton, CA
Vacancy
7.41%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$772,780
Cap Rate 7%
$551,986
Cap Rate 9%
$429,322
Alternative Uses
Best Use
Multifamily LT 5
$552.0K
$483.0K – $644.0K
NOI $38,639 @ 7.0% cap · market cap 7.43%
Second Best
Apartment 5plus
$479.9K
$419.9K – $559.8K
NOI $33,590 @ 7.0% cap · market cap 6.46%
Theoretical Best
Office A
$746.4K
$653.1K – $870.8K
NOI $52,246 @ 7.0% cap · market cap 10.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,598
Businesses Nearby
Explore this area
Business Placement
Demographics for 95202, CA
6,949
Population
3,999
Households
1.7
Avg Household Size
38
Median Age
17%
College-Educated
70%
High-School Grad
1.1 sq mi
ZIP Area
6,317
Density / Sq Mi
$23,954
Median Household Income
$31,879
Median Earnings
$864
Median Rent
$322,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit property in Stockton's Civic Center / Downtown area.
Where is this quadplex located?
The property is located at 905 N Commerce St Stockton, CA.
What is the asking price?
The asking price for this property is $520,000.
What are key features of this property?
This property features: Excellent location: Walking distance to Dignity Health St. Joseph's Medical Center and close to restaurants, bars, shops, Stockton waterfront, and arena.; Strong investment potential: Fully occupied with updated leases and upside potential.; Opportunity Zone location: Qualifies for ADU development incentives.
