MULTI-FAMILY SPACE - SALE PENDING: 2727 Monte Diablo Ave, Stockton, CA 95203
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Colliers International’s Central Valley Investment Team is proud to present the Monte Diablo Apartments, located at 2727 Monte Diablo Avenue, in the bustling Central Valley city of Stockton, CA, the largest city in San Joaquin County. This is an excellent opportunity for an investor to obtain a true “turn-key” asset that was newly constructed in 2006. The property is conveniently located at the intersection of Interstate 5 and Monte Diablo Avenue.
Sale Note
Monte Diablo Apartments offers an investor an excellent opportunity to purchase a smaller complex that was recently built and offers the amenities of a larger Class A apartment complex. Four 2-Bedroom units and two 1-Bedroom units have been fully remodeled, allowing the site to obtain higher rents. Some of these remodeled units have already instituted a RUBs program, providing an owner with a portion of the utility expenses to be reimbursed. The remainder of the units are rented at 30-35% below market, allowing the new owner to increase their return immediately. Being that the complex is currently less than 15 years old, AB1482 is not applicable.
Colliers International’s Central Valley Investment Team is proud to present the Monte Diablo Apartments, located at 2727 Monte Diablo Avenue, in the bustling Central Valley city of Stockton, CA, the largest city in San Joaquin County. This is an excellent opportunity for an investor to obtain a true “turn-key” asset that was newly constructed in 2006. The property is conveniently located at the intersection of Interstate 5 and Monte Diablo Avenue.
Sale Note
Monte Diablo Apartments offers an investor an excellent opportunity to purchase a smaller complex that was recently built and offers the amenities of a larger Class A apartment complex. Four 2-Bedroom units and two 1-Bedroom units have been fully remodeled, allowing the site to obtain higher rents. Some of these remodeled units have already instituted a RUBs program, providing an owner with a portion of the utility expenses to be reimbursed. The remainder of the units are rented at 30-35% below market, allowing the new owner to increase their return immediately. Being that the complex is currently less than 15 years old, AB1482 is not applicable.
