4404 Manchester Ave
Stockton, CA 95207
Townhouse Pacifica Apartments · Multifamily Property For Sale · 38 Units

Townhouse Pacifica Apartments is an exceptional multifamily asset located in Stockton, California. This property is located in a desirable community in between San Joaquin Delta College and the University of Pacific campus. Built in 1969 and renovated between 2009-2017, the property showcases functional two-and four-bedroom townhouse style floor plans. Townhouse Pacifica Apartments features a new roof, HVAC units, electrical panels, and remodeled interior units. The seller has spent over $1,000,000 on improvements. All units have been fully remodeled since 2009 with exceptional finishes top to bottom. The property is beautifully landscaped and remodeled throughout. The Stockton Market has seen significant rent growth over the last couple of years. Apartment rentals have been seeing double-digit rent increases year over year. According to RENTCafe, Stockton has the fastest-rising rent in the country at 10.6% over the last year, topping Colorado Springs, Buffalo, Reno, and Sacramento. The community attracts residents looking for rent relief from the nearby Bay Area markets. As demonstrated in the diagram, "Daily Regional Commuters" by The Mercury News, about 64,932 residents from Northern San Joaquin Valley commute to San Francisco Bay Area daily. Management has recently begun new roofing projects and raising rents more significantly. A new buyer focused on aggressive management that keeps pace with the velocity of the rental market should be able to achieve attractive returns. This is an opportunity to own in a prime rental market area of Stockton, located five-minutes from San Joaquin Delta College and three-minutes from University of the Pacific. Please contact listing agent with all questions and inquiries. Please do not disturb the tenants. Tours of the interior will be subject to acceptance of an offer by a qualified buyer.