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Listed by Jon Holmquist • Marcus & Millichap
$ 2,400,000
Est. payment | /mo
7,988 SqFt
$ 2,400,000
Est. payment | /mo
7,988 SqFt
Key Details
Property Type Commercial
Sub Type Lowrise (1-3 Flrs)
Listing Status Active
Purchase Type For Sale
Square Footage 7,988 sqft
Price per Sqft $300
MLS Listing ID 41098762
HOA Y/N No
Year Built 1930
Lot Size 0.261 Acres
Property Sub-Type Lowrise (1-3 Flrs)
Source Bridge AOR
Property Description
This offering commands a strong location mid-way between Tracy Blvd. and North Center, walking distance to light rail that provides an easy commute for tenants to major nearby Bay Area Job Centers and tech employment. Owned and operated for 28-years by the current owner, the property is well kept, with many long-term tenants, and significant rental upside. The owner self-manages the property, together with a resident on-site manager and carefully selects quality tenants. The property is constructed with wood frame, and stucco siding with a flat roof and per property records shows as constructed Circa. 1930. . The owner has upgraded the plumbing and building electrical including new main and sub-panels for optimal insurance rates. Further upgrades include double paned windows and interior renovations upon turnover. The unit mix consists of twelve studio units, and four one-bedroom/one bath units. Unit interiors feature primarily hardwood floors, renovated bathrooms, with three-piece-drop in tub enclosures. Heating is via. electric wall units, with tenant paying electric bills, which ensures low, stable expenses for the owner. The complex features 16-car open parking and sits on a superior 0.26-acre parcel. All units are separately metered for electricity and gas.
Location
State CA
County San Joaquin
Interior
Cooling Other
Flooring Laminate
Fireplace No
Building
Lot Description Level
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