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- LoopNet Team
4825 Kentfield Rd
Stockton, CA 95207
Coventry Apartments - 'Lockdown Resilient' · Multifamily Property For Sale
·
46 Units
INVESTMENT HIGHLIGHTS
- Extensively renovated gated community
- Consistent Annual 5% rent increases
- Newer roof, parking lot, dual pane windows, secured entry,updated plumbing, electrical, counters, flooring
- Exempt from taxation including Ad Valorem property tax increase
- Centrally located near major anchored commercial amenities, Delta Jr. College, and University of Pacific
- Annual rent increase allowed per the Regulatory Agreement
PROPERTY FACTS
| No. Units | 46 | Building Size | 36,880 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1964/2015 |
| Building Class | C | Parking Ratio | 2.04/1,000 SF |
| Lot Size | 1.66 AC | ||
| Zoning | R3-B, Stockton | ||
| No. Units | 46 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.66 AC |
| Building Size | 36,880 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1964/2015 |
| Parking Ratio | 2.04/1,000 SF |
| Zoning | R3-B, Stockton |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- Fireplace
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Double Pane Windows
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Pool
ABOUT 4825 KENTFIELD RD , STOCKTON, CA 95207
'Shutdown Resilient' investment opportunity with mostly guaranteed income from Section 8 vouchers, SSI, and other renter subsidies. In 2020, the ownership implemented the first rental increase since it's renovation in 2015 plus the rents charged are well below the allowable rents per the HOME calculation chart of median income. The property is truly operated as a non-profit however a new ownership has the opportunity to increase rents annually (per Reg. Agreement) and charge the allowable HOME chart rates on available units to operate as a 'For Profit' investment and keeping the non-profit status. Coventry Apartments is a courtyard style, gated community which features spacious floor plans, balconies/patios, dual pane windows, a swimming pool, 3 central water heaters, laundry facility, plus a large gated carport and surface parking lot. Coventry Apartments gated community feature 16 one-bedroom units and 30 two-bedroom units equipped with 24 hour surveillance cameras ,air conditioning, swimming pool, laundry facilities, children’s playground area, and WiFi connectivity. Coventry Apartments are located near RTD bus stops for easy transport services throughout the city of Stockton. Coventry is a rent-restricted community under a Regulatory Agreement through the City of Stockton Economic Development Department. Nine (9) of the units are reserved for residents with Adjusted Gross Income (AGI) which does not exceed thirty (30%) of the Area Median Income (AMI) and thirty-six (36) of the units are reserved for households not exceeding 50% AMI. *This type of rent structure allows for exemption from taxation including Ad Valorem property taxes making this a very stable investment*
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 16 | $662.00 | 700 |
| 2+1 | 30 | $772.00 | 800 |
PROPERTY TAXES
| Parcel Number | 104-100-14 | Improvements Assessment | $1,562,964 |
| Land Assessment | $490,337 | Total Assessment | $2,053,301 |
PROPERTY TAXES
