The Stonebridge Apartments is a beautifully remodeled 30-unit apartment community located in the vicinity of the major intersection of Pacific Avenue and W Robinhood Drive in Stockton, California. The property is situated on a single parcel bordering Stratford Circle and was originally built in 1966 featuring an attractive mix of 1-, 2-, and 3-bedroom floor plans, including single-story cottages. The average unit size is a generous 949 sqft. Residents of Stonebridge enjoy a private swimming pool with a gorgeous brand-new cabana area, covered parking, and low-density living at 22 units per acre. Recent leases strongly support a thesis of 44% upside in income, pushing investor pro forma returns well above market norms. While inheriting a property showcasing new paint, asphalt, signage and landscaping the savvy investor will recognize that future capital expenditures on interior upgrades will directly result in NOI growth. Stonebridge is offered free and clear. Seller Financing Available.
Property Type :
ResidentialIncome
County :
San Joaquin
Style :
ResidentialIncome
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ByOwner last updated this listing 05/09/2024 @ 04:48
MLS: 223107105
LISTED BY: David DeLoney, Marcus & Millichap Real Estate
SOURCE: MLS Metrolist
Buyer Agency Compensation: 1%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.
