Manteca Shovel-Ready 24-Unit Apartment Project
Fully Entitled 24-Unit Multifamily Development Site in Rapidly Growing Manteca!
Marketing description
Secure your stake in the burgeoning Manteca market with this fully entitled, shovel-ready 24-unit apartment complex development site. Positioned in one of the Central Valley's fastest-growing cities, this project offers an immediate path to ground-breaking, bypassing the lengthy and often unpredictable planning and permitting phases. Manteca's strategic location and expanding workforce make this a high-demand, low-vacancy investment opportunity designed for long-term capital appreciation and strong rental income.
Investment highlights
Scale: Approved for a 24-unit multifamily complex (ideal unit mix: 12x1BR/1BA and 12x2BR/2BA)
City Advantage: Capitalize on Manteca's dramatic population and economic growth. This surge is fueled by its strategic proximity to the Bay Area and robust local development, including the Great Wolf Lodge, new retail centers, restaurants, and schools.
Prime Location: amidst new residential development, benefiting from recent local infrastructure upgrades, including widened roads, new sidewalks, and dedicated walking paths.
Effortless Path to Construction: All planning approvals and permits are in place. This is a true "turn-key" development site ready for a builder to start immediately.
Modern Design: Proposed plans feature contemporary architecture, private balconies, in-unit laundry, and ample parking. Amenities essential to commanding top-tier Manteca rents.
$1.4 Million in Value Absorbed: The seller has paid for all major Impact Fees, Architectural, and Engineering soft costs. This represents a financial value of approximately $1.4 million that the buyer does not have to spend.
Massive Time Savings: The buyer skips the 18-24 month entitlement process, eliminating the long "cost of carry" and allowing immediate application for a construction loan.
Construction Bids: Qualified, third-party bids have been received and are being updated, establishing a tight cost range between $4.9 million and $6.0 million (hard construction costs only).
Return On Cost (ROC): Conservative financial modeling indicates a highly attractive 8% Return On Cost (ROC) is attainable upon stabilization. This is based on the current Manteca new construction rental rates.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
