This Multifamily Property is Off-Market.

111 North Walnut Avenue
Manteca, CA 95337 ·

10 Units · Multifamily For Sale

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100% Occupied-All 2bed-Immaculate-Condition

Price N/A Property Use Type Investment
No. Units 10 Commission Split 3%
Building Size 9,070 SF Cap Rate 7.62%
Property Type Multifamily Gross Rent Multiplier 9.72
Property Sub-type Garden/Low-Rise Occupancy 100%
Listing ID: 17335547 Date Created: 09/16/2011 Last Updated: 11/16/2011

Description

The Walnut Grove Apartments located at 111 North Walnut Avenue is a pride of ownership, immaculately kept 10-unit apartment complex located in the desirable Central Valley location of Manteca, California. The improvements consist of 10, two-bedroom/one-bath units averaging 907 square feet, which are separately metered for gas and electricity. Units feature gas wall heaters, individual wall mount air conditioners, electric stoves, frost free refrigerators, and tiled shower and tub enclosures. Tenants benefit from a wide range of amenities including garbage disposals, dishwashers, ceiling fans and air conditioners.

The complex is situated on a large 16,553-square foot parcel and features clean, well-kept grounds, 20 car parking (10 covered and 10 uncovered), and mature yet minimal landscaping. Construction is of wood frame with wood siding on a concrete slab foundation. The building and grounds have undergone many new improvements including a resurfaced parking lot, a new pitched composite roof in 2007, new 40 gallon hot water heaters in most units and newer double pane windows in all units. There are two washers and two dryers on the property, owned by the landlord.

Highlights

  • 1985 Construction in Impeccable condition!
  • All Large 907-Square Foot Two-Bedroom/One-Bath Units
  • Extremely Well Maintained Property in a Great Location
  • Double pane windows, new paint, new roof
  • Separately Metered for Gas and Electricity
  • 9.59% Return on Current Income and Expenses

Research

111 North Walnut Avenue, Manteca, CA 95337 (San Joaquin County)

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