The Commerce Apartments | 625 N Commerce St
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The Commerce Apartments 625 N Commerce St
15 Unit Apartment Building $2,399,625 CAD ($159,975 CAD/Unit) 6.18% Cap Rate Stockton, CA 95202
Investment Highlights
- Stabilized, turnkey apartment asset with a 6.18% cap rate on current income and priced well below replacement cost.
- Primarily made up of 1x1s, Downtown Stockton’s most popular unit type.
- Recent improvements include roof, sewer main replacement and 6 of the 15 units being turned.
- Excellent location, near Downtown Stockton’s Waterfront Entertainment Zone.
- Gated, secure parking and entry with brand new HD camera security system.
Executive Summary
Colliers Central Valley Investment Team is pleased to present the Commerce Street Apartments. This 15-unit complex is nestled in Stockton’s desirable Downtown Waterfront district. Professionally maintained and improved far above the standards of nearby properties, this asset provides an investor with a stable income stream and very low management responsibility. The asset is 100% occupied at near market rents, providing an investor with north of a 6% return on current net operating income, with room to grow! The property is made up of fifteen (15) units; fourteen (14) are 1bedroom, 1bathroom units, approximately 462 square feet and one (1) 3bedroom, 2bathroom units, approximately 900 square feet.
Located near the corner of W. Oak Street and N. Commerce Street, the Commerce Street Apartments are less than 100 yards away from the Adventist Health Arena (home to many professional sports teams), a short walk to Banner Island Ballpark (home of the Stockton Ports Baseball Team), and Stockton’s well known Downtown Waterfront entertainment district.
Located near the corner of W. Oak Street and N. Commerce Street, the Commerce Street Apartments are less than 100 yards away from the Adventist Health Arena (home to many professional sports teams), a short walk to Banner Island Ballpark (home of the Stockton Ports Baseball Team), and Stockton’s well known Downtown Waterfront entertainment district.
Property Facts
| Price | $2,399,625 CAD | Building Class | C |
| Price Per Unit | $159,975 CAD | Lot Size | 0.34 AC |
| Sale Type | Investment | Building Size | 7,368 SF |
| Cap Rate | 6.18% | Average Occupancy | 100% |
| Gross Rent Multiplier | 9.08 | No. Stories | 2 |
| No. Units | 15 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 3.26/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $2,399,625 CAD |
| Price Per Unit | $159,975 CAD |
| Sale Type | Investment |
| Cap Rate | 6.18% |
| Gross Rent Multiplier | 9.08 |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 7,368 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 3.26/1,000 SF |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 14 | - | 462 |
| 3+2 | 1 | - | 900 |
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Walk Score ®
Very Walkable (86)
PROPERTY TAXES
| Parcel Number | 137-190-12 | Improvements Assessment | $1,627,394 CAD |
| Land Assessment | $591,780 CAD | Total Assessment | $2,219,173 CAD |
PROPERTY TAXES
Parcel Number
137-190-12
Land Assessment
$591,780 CAD
Improvements Assessment
$1,627,394 CAD
Total Assessment
$2,219,173 CAD
zoning
| Zoning Code | High Density Residential |
| High Density Residential |
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The Commerce Apartments | 625 N Commerce St
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