717 N San Joaquin St 24 Unit Apartment Building $1,450,000 ($60,417/Unit) 8.56% Cap Rate Stockton, CA 95202

707 N San Joaquin St presents a compelling multifamily investment opportunity in the heart of Downtown Stockton, offering an attractive combination of historic architecture, proven income performance, and substantial upside potential. The property features a strong unit mix of efficient studios and one-bedroom layouts supported by in-place rents and a proforma that demonstrates significant room for revenue expansion. Investors benefit from a competitive entry basis supported by favorable metrics, including an existing cap rate positioned well for the submarket and a proforma cap rate that reflects meaningful operational uplift.
The surrounding neighborhood enhances long-term stability, with walkable access to major employment anchors such as St. Joseph’s Medical Center, Dameron Hospital, and multiple civic and educational institutions. Retail, dining, entertainment, and recreational amenities sit minutes away, creating consistent tenant demand across unit types. Nearby cultural attractions, sports venues, and public transit connections further reinforce the property’s desirability and market resilience.
Operational efficiencies are supported by steady historical occupancy and streamlined expenses, allowing for predictable income while still offering room for value-add improvements that can drive rent growth. The property’s financial models outline strong projected returns across multiple hold scenarios, with notable upside in IRR, equity multiple, and cash-on-cash performance based on conservative assumptions. This makes the asset well-suited for investors seeking both near-term stability and long-term appreciation within an improving urban corridor.
Overall, 707 N San Joaquin St combines location strength, diversified unit composition, favorable return metrics, and walkable lifestyle amenities, making it a rare offering in a supply-constrained Central Valley rental market. Its positioning within Downtown Stockton’s active revitalization zone provides investors both immediate performance and long-range strategic potential.