N Madison

Tremendous opportunity to achieve 9%+ cap rate with rental agreements already in place. 8 unit multi-family located near downtown Stockton with great unit mix - two bedroom (5), one bedroom (3). Historically high cash flow performing asset with additional upside. One of the buildings suffered fire damage (to one area of building and unit), and currently vacant but has agreements in place; leases signed, for immediate occupancy once repairs are complete and occupancy certificate issued. All units individually metered, more than half of the current leases have utilities paid by tenants; owner responsibility minimal in terms of utility expenses. Great entry point for investors willing to put in some work, with opportunity for immediate returns on rental income with completion of repairs. Corner lot with ample parking. Utility companies note address as 931-941 N Madison. Contact broker team for further details.