The Poplar Place Apartments
Multifamily | 22 Units | $95,455/unit
Marketing description
The Offering
The Poplar Place Apartments is a well-maintained 22-unit multifamily property located at 310 W. Poplar Street in Stockton, California. Offered at $2,290,000 with a 6.91% cap rate, 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) one-bedroom/one-bath 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, carpet, and linoleum 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.
Investment highlights
- All 1-Bedroom Unit Mix - Highly desirable layout catering to strong demand for affordable, easy-to-rent units.
- Well-Maintained with Recent Upgrades - Dual-pane windows, and updated systems minimize near-term capital needs and support stable ownership.
- Rental Upside Potential – Current rents are below market, allowing revenue growth via upgrades and efficiency improvements.
- On-Site Amenities Drive Tenant Appeal - Laundry on every floor, manager’s office, and security cameras enhance convenience and oversight.
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