The Flora Apartments | 419 W Flora St
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The Flora Apartments 419 W Flora St
10 Unit Block of Flats £939,960 (£93,996/Unit) 7.21% Net Initial Yield Stockton, CA 95203
Investment Highlights
- Stabilized, turnkey apartment asset with a 7.21% cap rate on current income, priced well below replacement cost.
- HD camera security system.
- Primarily made up of 1x1s, Downtown Stockton’s most popular unit type.
- Recent improvements include exterior paint and 8 of the 10 units being remodeled.
Executive Summary
Colliers Central Valley Investment Team is pleased to present the Flora Apartments. This 10-unit complex is nestled near 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 7% return on current net operating income, with room to grow! The property is made up of Ten (10) units; Eight (8) are 1-bedroom, 1-bathroom units, approximately 482 square feet and Two (2) 2-bedroom, 1-bathroom units, approximately 670 square feet.
Located midblock between N. Lincoln and N. Van Buren, the Flora Apartments provides residents easy access to major thoroughfares such as I-5, HWY 4 and HWY 99, as well as the Downtown Waterfront Entertainment District, home to Adventist Health Arena (home to many professional sports teams), Banner Island Ballpark (home of the Stockton Ports Baseball Team), and Weber Point (an outdoor events center).
Located midblock between N. Lincoln and N. Van Buren, the Flora Apartments provides residents easy access to major thoroughfares such as I-5, HWY 4 and HWY 99, as well as the Downtown Waterfront Entertainment District, home to Adventist Health Arena (home to many professional sports teams), Banner Island Ballpark (home of the Stockton Ports Baseball Team), and Weber Point (an outdoor events center).
Property Facts
| Price | £939,960 | Apartment Style | Low Rise |
| Price Per Unit | £93,996 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Net Initial Yield | 7.21% | Building Size | 5,196 SF |
| Gross Rent Multiplier | 8.38 | Average Occupancy | 100% |
| No. Units | 10 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1970 |
| Property Subtype | Apartment | Parking Ratio | 1.92/1,000 SF |
| Price | £939,960 |
| Price Per Unit | £93,996 |
| Sale Type | Investment |
| Net Initial Yield | 7.21% |
| Gross Rent Multiplier | 8.38 |
| No. Units | 10 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 5,196 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1970 |
| Parking Ratio | 1.92/1,000 SF |
Site Amenities
- Laundry Facilities
- Security System
- Video Patrol
- Gas Range
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 482 |
| 2+1 | 2 | - | 670 |
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Walk Score ®
Very Walkable (78)
PROPERTY TAXES
| Parcel Number | 137-165-10 | Improvements Assessment | £469,479 |
| Land Assessment | £156,212 | Total Assessment | £625,691 |
PROPERTY TAXES
Parcel Number
137-165-10
Land Assessment
£156,212
Improvements Assessment
£469,479
Total Assessment
£625,691
zoning
| Zoning Code | Low Density Residential |
| Low Density Residential |
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The Flora Apartments | 419 W Flora St
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