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The Poplar Place Apartments 310 W Poplar St 22 Unit Apartment Building $2,100,000 ($95,455/Unit) 8.57% Cap Rate Stockton, CA 95203
Investment Highlights
- All 1-BD / 1-BA unit mix catering to strong demand for affordable, easy-to-rent units, with below-market rents offering upside.
- Strong tenant appeal with laundry on every floor, a manager’s office, & security cameras, plus additional upside through upgrades.
- Well-maintained with recent upgrades including dual-pane windows & updated systems, minimizing near-term capital needs.
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 $2,100,000 with an 8.57% cap rate, based on a projected 1/1/2027 rent increase, 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) 1-BD / 1-BA 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 plank and tile 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) 1-BD / 1-BA 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 plank and tile 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 | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $95,455 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.40 AC |
| Cap Rate | 8.57% | Building Size | 11,000 SF |
| Gross Rent Multiplier | 6.33 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1972 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | RL - Low Density Residential | ||
| Price | $2,100,000 |
| Price Per Unit | $95,455 |
| Sale Type | Investment |
| Cap Rate | 8.57% |
| Gross Rent Multiplier | 6.33 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.40 AC |
| Building Size | 11,000 SF |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 2/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RL - Low Density Residential |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 22 | - | - |
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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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