230 N Central Ave., Lodi, CA
Multi-family for Sale - $399,000 - 4,000 Sq. Ft. on 6000 acres
Property Info
CIMLS# | 915779 |
Location 230 N Central Ave. Lodi CA 95240 | |
Updated | December 28th, 2016 |
Type | Multi-family |
Price | $399,000 |
Building | 4,000 Sq. Ft. |
Land | 6000 acres |
Property Description
*Excellent 1st Time Investor Property*
230 N Central Ave.,Lodi is a rare opportunity to purchase multifamily units at an affordable entry price level within a very stable and established rental market. The subject property is comprised of three (3) cottage style buildings with a unit mix of nine (9) Studios plus one (1) 4B/1B unit.
The ownership just notified the tenants of a $50 rent increase per unit starting 11/1/2016 which equates to an additional $500 per month / $6,000 Annually.
The property operates with one (1) separate house meter for gas and electric.
Location Description:
The subject property is located in close vicinity to Highway 99, Downtown Lodi, and other commercial amenities. Located within a strong rental market.
Highlights:
>> Excellent for a First Time Investor
>> 100% Leased
>> Strong rental market
>> $50 rent increase notices starting 11/1/16
>> Located close to Highway 99
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