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The Sherman Apartments 119 N Sherman Ave 10 Unit Apartment Building $1,798,000 ($179,800/Unit) 6.31% Cap Rate Manteca, CA 95336
INVESTMENT HIGHLIGHTS
- Located at 119 N. Sherman Ave in Manteca, CA, featuring ten fully remodeled one-bedroom, one-bath units.
- Rear alley access with three fully renovated garages available for rent and an additional three ready for remodel.
- Complete interior and exterior overhaul in 2025
EXECUTIVE SUMMARY
The Sherman Apartments offer a fully turnkey, 10-unit multifamily investment in the heart of Manteca, located at 119 N. Sherman Avenue. Consisting entirely of one-bedroom, one-bath units, the property recently underwent a comprehensive interior and exterior renovation completed in 2025. Upgrades include new electrical systems with Square D panels, brand-new roofing, updated stucco and T1-11 siding, dual-pane windows, new LVP flooring, and modern split-system HVAC units. Each unit features new appliances, gas stoves, refrigerators, and built-in microwaves.
Rear alley access provides convenient parking, including three fully remodeled garages ready for immediate rental income, with additional garages available for future improvement. End units benefit from extra natural light and dedicated front parking spaces. With a price of $1,798,000, the property offers a current cap rate of 6.31%, The Sherman Apartments combine high-quality renovations, strong operating structure, and long-term durability, making this a compelling turnkey asset in a supply-constrained Manteca market.
Rear alley access provides convenient parking, including three fully remodeled garages ready for immediate rental income, with additional garages available for future improvement. End units benefit from extra natural light and dedicated front parking spaces. With a price of $1,798,000, the property offers a current cap rate of 6.31%, The Sherman Apartments combine high-quality renovations, strong operating structure, and long-term durability, making this a compelling turnkey asset in a supply-constrained Manteca market.
PROPERTY FACTS
| Price | $1,798,000 | Property Subtype | Apartment |
| Price Per Unit | $179,800 | Apartment Style | Low-Rise |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.31% | Lot Size | 0.48 AC |
| Gross Rent Multiplier | 10.18 | Building Size | 6,300 SF |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1916/2025 |
| Zoning | CBD-2 | ||
| Price | $1,798,000 |
| Price Per Unit | $179,800 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| Gross Rent Multiplier | 10.18 |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.48 AC |
| Building Size | 6,300 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1916/2025 |
| Zoning | CBD-2 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 10 | - | 630 |
1 1
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 223-103-07 | Improvements Assessment | $583,664 |
| Land Assessment | $265,302 | Total Assessment | $848,966 |
PROPERTY TAXES
Parcel Number
223-103-07
Land Assessment
$265,302
Improvements Assessment
$583,664
Total Assessment
$848,966
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The Sherman Apartments | 119 N Sherman Ave
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