Listed by Marcus & Millichap - Sacramento, Marcus & Millichap - Downtown Sacramento
$4,975,000
Manchester Townhomes
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 37,962
Net Rentable (SqFt) 37,962
Units 38
Cap Rate 5.38%
NOI $267,482
Occupancy 95%
Tenancy Multi
Pro-Forma Cap Rate 7.83%
Pro-Forma NOI $389,705
Price per SqFt $131
Year Built 1968
Acreage 1.410
Investment Type Stabilized
Multifamily | 38 Units | $130,921/unit
Marketing description
Located in California's Central Valley, just over the Diablo Mountain Range from the San Francisco Bay Area, Manchester Townhomes is a stabilized 38-unit multifamily property in Stockton, CA. The property consists entirely of 2-bedroom, 1.5-bath townhome units averaging 1,000 square feet each. Built in 1968 and situated on 1.41 acres, the property benefits from strong market fundamentals, strategic location between Sacramento and Fresno, and proximity to major employment centers and transportation corridors.
Investment highlights
- The Port of Stockton is a deep-water inland port, with bulk cargo and breakbulk cargo facilities connected to the San Francisco Bay via the Sacramento-San Joaquin River Delta. The port can berth 14 vessels, including Panamax ships.
- Interstates 5, 205 and 580, as well as Highways 4 and 99, support a sizable distribution and manufacturing segment. Union Pacific operates an intermodal facility in Lathrop, while BNSF maintains a similar facility in Stockton.
- St. Joseph’s Medical Center, Dameron Hospital and Kaiser Permanente are among the local health care providers and largest employers in the county.
Listing Contacts
Listed by Marcus & Millichap - Sacramento, Marcus & Millichap - Downtown Sacramento
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$267,482.00
$22,290.17/mo
Valuation Metrics
0
DSCR
5.38%
Cap Rate
5.38%
ROI
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