1616 Market StStockton, CA 95205

Property Details for 1616 Market St

Year built

1993

Construction

WOOD

Lot size

0.56 AC

Property size (Sq ft)

12,672 SF

Zone code

C2

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

155-020-660-000

APU

155020660000

Description

This exceptional investment opportunity presents a 16-unit apartment building located at 1616 E Market St, Stockton, CA 95205. Built in 1992, this two-story, Class C property boasts a total of 12,000 square feet, offering 16 units, each approximately 792 square feet with two bedrooms and one bathroom. Each unit is equipped with air conditioning. The property includes secure parking for all tenants. Currently generating a NOI of $80,000, with a pro-forma NOI of $110,000, this property offers a compelling 3.64% cap rate and a pro-forma cap rate of 5.00%. The asking price is $2,200,000, translating to $137,500 per unit and $183.33 per square foot. Situated in a prime location, approximately an hour south of Sacramento, this well-maintained complex presents a strong cash flow and significant potential for future growth, making it an ideal addition to any investor's portfolio. The property benefits from long-term tenants, ensuring consistent rental income. This is a rare opportunity to acquire a stable and profitable multifamily investment in a desirable California market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,643,422

  6.5%

  $2,440,082

  7%

  $2,265,790

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,804,428

  Geo Method

  $2,804,428

• Alternative Use

  Use

  Valuation

  Residential

  $2,440,082

  Hospitality

  $2,235,102

  Educational

  $1,859,578

  Medical

  $1,923,532

  Retail

  $2,892,677

Location Insight

City

Stockton

County

San Joaquin

State

California

Latitude

37.9549

Longitude

-121.269

CBSA code

44700

CBSA name

STOCKTON, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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