100% Collection | 100% Leased | 5 Units |

27 W Magnolia St. Stockton, CA 95202

FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$410,000
Last Verified:
Sep 21, 2020

Highlights

  • 100% Leased and Rent Collections
  • Strong market rents with upside in select units
  • Well-maintained property in established area
  • Close to Dameron Hospital and driving distance to commercial amenities

Description

27-31 W Magnolia St., Stockton is a well maintained 5 unit complex within the high demand rental market of the outer downtown. The subject property is easy to manage with low expenses as its metered for electrical and gas which are paid for by the tenants plus each unit is equipped with its own water heater. The property is comprised of four (4) - 1 Bedroom / 1 Bath plus one (1) Studio/1 Bath apartments with an average of 463 SF. The average rental rate of $788 indicates that the rental housing market is in high demand in this area.

Public record varies in the construction date but much of the exterior and interiors have been noticeably upgraded over the decades. The stucco and foundation appear to be in very good condition along with the interiors.

27 W Magnolia is located within a few blocks to Dameron Hospital and only a short drive to Weberstown Mall district for all major anchored commercial amenities. The downtown has experienced a revitalization as investors realize the upside potential in rents through the renovation and upkeep of their buildings. The rental market remains very strong and in high demand for well maintained properties.


Year Built: 1917
Building Size: 2311.0sq ft
Lot Size: 0.17 acres

Map of 27 W Magnolia St., Stockton, CA, 95202

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.