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The Poplar Place Apartments 310 W Poplar St 22 Unit Apartment Building $2,500,000 ($113,636/Unit) 5.67% Cap Rate Stockton, CA 95203
Investment Highlights
- Highly desirable layout catering to strong demand for affordable, easy-to-rent units.
- Current rents are below market, allowing revenue growth via upgrades and efficiency improvements.
- Dual-pane windows, and updated systems minimize near-term capital needs and support stable ownership.
- Laundry on every floor, manager’s office, and security cameras enhance convenience and oversight.
Executive Summary
The Poplar Place Apartments is a well-maintained 22-unit multifamily property located at 310 W. Poplar Street in Stockton, California. Offered at $2,500,000 with a 5.67% cap rate, the asset presents a stable investment opportunity with solid in-place income in a growing Central Valley market.
The property features a desirable unit mix of twenty-two (22) one-bedroom/one-bath units, appealing to consistent demand for affordable and efficient housing. On-site amenities include owned laundry facilities with a laundry room on each floor, a manager’s office, storage/maintenance space, and security cameras. Solar panels installed in 2018 help offset utility expenses, and each floor is equipped with 100-gallon water heaters for added efficiency.
Units offer a functional mix of vinyl, carpet, and linoleum flooring, along with wall heating and air conditioning. Select units include ceiling fans and dishwashers, while all units are equipped with gas stoves, microwaves, and garbage disposals, providing everyday convenience and supporting tenant retention.
The property features a desirable unit mix of twenty-two (22) one-bedroom/one-bath units, appealing to consistent demand for affordable and efficient housing. On-site amenities include owned laundry facilities with a laundry room on each floor, a manager’s office, storage/maintenance space, and security cameras. Solar panels installed in 2018 help offset utility expenses, and each floor is equipped with 100-gallon water heaters for added efficiency.
Units offer a functional mix of vinyl, carpet, and linoleum flooring, along with wall heating and air conditioning. Select units include ceiling fans and dishwashers, while all units are equipped with gas stoves, microwaves, and garbage disposals, providing everyday convenience and supporting tenant retention.
Property Facts
| Price | $2,500,000 | Apartment Style | Low-Rise |
| Price Per Unit | $113,636 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 5.67% | Building Size | 11,249 SF |
| Gross Rent Multiplier | 8.28 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 1.96/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-1, Stockton | ||
| Price | $2,500,000 |
| Price Per Unit | $113,636 |
| Sale Type | Investment |
| Cap Rate | 5.67% |
| Gross Rent Multiplier | 8.28 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 11,249 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.96/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-1, Stockton |
Amenities
Unit Amenities
- Air Conditioning
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | - |
1 1
Moderately walkable
60/100
Very drivable
80/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 137-170-11 | Improvements Assessment | $865,067 |
| Land Assessment | $125,562 | Total Assessment | $990,629 |
Property Taxes
Parcel Number
137-170-11
Land Assessment
$125,562
Improvements Assessment
$865,067
Total Assessment
$990,629
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The Poplar Place Apartments | 310 W Poplar St
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