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1142 N Sutter St 16 Unit Apartment Building $2,599,999 ($162,500/Unit) 5.19% Cap Rate Stockton, CA 95202
INVESTMENT HIGHLIGHTS
- Fully Remodeled in 2018
- Quality Tenants & Professionally Managed
- Exquisite Finishes Top to Bottom
- Potential Upside on Rental Income
EXECUTIVE SUMMARY
The Sutter Court Apartments is a turn-key 16 unit complex. All units are 1BD/1BA built in 1970 and completely renovated in 2018. The building is comprised of 8,660 square feet on .23 AC. The leased units are getting $1,088- $1,195, plus RUBs and extra parking income. The next owner will enjoy reduced utility expenses and potential upside on rental income due to the overflow of renters from the Bay Area. The building has been completely renovated from top to bottom. You have to come tour to really understand. There is a laundry room on-site with two washers and two dryers. The building exterior and common area is well landscaped and maintained. All of the units have been remodeled with laminate and tile flooring, granite counter tops, up to date appliances, and updated fixtures
PROPERTY FACTS
| Price | $2,599,999 | Building Class | C |
| Price Per Unit | $162,500 | Lot Size | 0.24 AC |
| Sale Type | Investment | Building Size | 8,660 SF |
| Cap Rate | 5.19% | No. Stories | 2 |
| No. Units | 16 | Year Built/Renovated | 1971/2018 |
| Property Type | Multifamily | Parking Ratio | 10/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | CR, Stockton - Commercial Recreation | ||
| Price | $2,599,999 |
| Price Per Unit | $162,500 |
| Sale Type | Investment |
| Cap Rate | 5.19% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.24 AC |
| Building Size | 8,660 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1971/2018 |
| Parking Ratio | 10/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | CR, Stockton - Commercial Recreation |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Kitchen
- Granite Countertops
- Refrigerator
- Range
- Double Pane Windows
- Vinyl Flooring
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | - | 541 |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (73)
PROPERTY TAXES
| Parcel Number | 139-194-01 | Improvements Assessment | $1,859,197 |
| Land Assessment | $328,093 | Total Assessment | $2,187,290 |
PROPERTY TAXES
Parcel Number
139-194-01
Land Assessment
$328,093
Improvements Assessment
$1,859,197
Total Assessment
$2,187,290
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1142 N Sutter St
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