111 N Walnut Ave
Manteca, CA 95337
Multifamily Property For Sale · 10 Units

For the complete offering memorandum, reach out to the exclusive listing agent, Jon Holmquist. 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. The property is located just off West Yosemite Avenue, which is a main thoroughfare, and the property is less than a mile from Kaiser Permanente Hospital, Marketplace Stadium Cinema, and the Manteca Golf Course. Occupancy at the complex has historically been very strong, due to the buildings excellent location and upgraded amenities. This offering provides a new owner the opportunity to acquire a turn-key, well maintained complex with immediate positive cash flow in an excellent location.