Property Listing No Longer Available for Sale

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
UpdatedDecember 28th, 2016
TypeMulti-family
Price$399,000
Building4,000 Sq. Ft.
Land6000 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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Financials