$559,900
$549,999
1.8%For more information regarding the value of a property, please contact us for a free consultation.
2,236 SqFt
SOLD DATE : 12/17/2024
Key Details
Sold Price $559,900
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,236 sqft
Price per Sqft $250
MLS Listing ID 224098269
Sold Date 12/17/24
HOA Y/N No
Originating Board MLS Metrolist
Year Built 1980
Lot Size 6,307 Sqft
Acres 0.1448
Property Description
Hard to find Duplex with 2 3 Bedroom, 2 bath units located in Wagner Heights (North Stockton) . Both units were updated about 7 years ago. This property is located in the Lodi Unified School District. The current owners more recently replaced the air conditioners, water heaters and gutters. The property has a stucco exterior, tile roof and dual pane windows. Current rents are $2000 a month and $1980 a month with the tenants also paying all utilities. This is equivalent to another $200- $250 a Month. Gross scheduled income is $47,760 with a GRM of 11.51 or about $50,760 and a GRM of 10.83 after factoring in the additional utilities. Proforma Cap rate of 6.03% based on current expenses and projected taxes. You can count on stable rents because both tenants are on the Housing Voucher program with the majority of the rent GUARANTEED and direct deposited into your account each month. Offer with confidence knowing the seller is providing a pest inspection and whole house inspection that ARE ATTACHED. One is the property inspection the other shows as 3A report but IT IS ACTUALLY THE PEST AND DRY ROT REPORT.
Location
State CA
County San Joaquin
Area 20705
Direction From 99: Exit Morada and head West on Morada Ln, Left on Fox Creek Dr. Property on left
Interior
Heating Central
Cooling Ceiling Fan(s)
Flooring Tile, Laminate, Varies by Unit
Equipment Varies by Unit
Window Features Dual Pane Full,Window Coverings,Window Screens
Appliance Free Standing Gas Range
Laundry Washer/Dryer Hookups
Exterior
Exterior Feature Fenced Yard
Parking Features Off Street, Garage, Garage Door Opener
Garage Spaces 4.0
Utilities Available City
Water Access Desc Public
View City
Roof Type Tile
Topography Level
Porch Covered Patio
Total Parking Spaces 8
Building
Lot Description Shape Regular
Story 1
Foundation Slab
Sewer In & Connected
Water Public
Architectural Style Ranch
Level or Stories One
Schools
Elementary Schools Lodi Unified
Middle Schools Lodi Unified
High Schools Lodi Unified
School District San Joaquin
Others
Senior Community No
Tax ID 090-120-40
Special Listing Condition None
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