3140 Belvedere Ave Stockton, CA 95205-2611
- Apartment buildings
- 2,600 SF
- 0.51 lot acres
Dec 22, 2022
Current Use by Public Records
- Apartment buildings
Property Details for 3140 Belvedere Ave
- Lot size
- 0.51 lot acres
- Property size
- 2,600 SF
- Zone code
- N
- Property type
- Apartment buildings
- APN
- 119-043-330-000
- APU
- 119043330000
Description
This exceptional investment opportunity presents a multifamily property located at 3140 & 3150 Belvedere Avenue, Stockton, CA 95205. The property consists of two buildings on a single parcel, totaling 8 units and 8,318 square feet. One building is a 3-bedroom, 1-bathroom single-family home (approximately 1,100 sq ft) with private parking and a fenced yard. The second building comprises seven 1-bedroom, 1-bathroom apartments (approximately 500 sq ft each). Four of these apartments have recently undergone renovations, including new flooring, paint, ceiling fans, and baseboards. All units feature individual gas and electric meters. Adding to the property's income potential is a double-faced, 6x12 foot billboard leased to a local company until 2027. The property is situated in a prime location at the corner of Belvedere Avenue and Wilson Way, within Stockton's Opportunity Zone, benefiting from a strong rental market and a 6.82% cap rate. The asking price is $910,000, representing $113,750 per unit and $109.40 per square foot. The property's APN is 119-043-33, and it's zoned for low-density residential use. Built in 1972, this property offers a blend of established income and potential for future appreciation. This is a rare opportunity to acquire a well-positioned multifamily property with additional income streams in a thriving market.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $645,000
- ML approach
- $590,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $590,000
- 6.5%
- $545,000
- 7%
- $505,000
-
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $450,000 Current use
- MEDICAL BUILDING
- $640,000 Change: +42% Conversion: Moderate
- OFFICE BUILDING
- $480,000 Change: +6% Conversion: Moderate
- COMMERCIAL (GENERAL)
- $470,000 Change: +4% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $460,000 Change: +2% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Stockton
- County
- San Joaquin
- State
- California
- Longitude
- -121.269
- Latitude
- 37.9865
- CBSA code
- 44700
- CBSA name
- STOCKTON, CA METROPOLITAN STATISTICAL AREA
