Created date: September 26, 2023
Date last updated: September 26, 2023
- Highly Desirable Location
- Sizable Upside of Over $78,000 by Year 3
- High Barrier of Entry Market with Massive Appreciation Potential
- Current Vacancies Allow for Instant Upside with Interior Updates
The Multifamily Team of Kidder Mathews is pleased to present the exclusive listing of the 24 unit 412 North Church Street Apartments located in the charming and strategically located Lodi, California
412 North Church Street is a rare gem offering a highly desirable location within walking distance of Downtown Lodi, with stabilized income, pride of ownership, and sizable upside in rents. The subject property was built in 1968 with many noteworthy improvements including updated interiors, flooring, counters, and appliances on most units, new roof and covered parking structures, new water heaters, dual pane windows, main sewer line, and on-site laundry. 412 North Church is comprised of an attractive unit mix of 8 spacious 2-Bedroom/1-Bathroom units, 12 large 1-Bedroom/1-Bathroom units, and 4 well designed studio units. Each apartment home is approximately 745 square feet, 645 square feet, and 525 square feet for 2 bedrooms, 1 bedrooms, and studios respectively.
Residents of the property enjoy the safe and quaint Lodi community with great schools and walking proximity to ample dining and entertainment amenities Downtown. Lodi has become a great choice for renters out of both Sacramento and the Bay Area seeking a higher quality of life and more affordable housing.
The investment appeal of this opportunity is the ability to acquire a well located and maintained asset in a market with a very high barrier to entry and low transaction volume that has resulted in exponential and expected continuing value appreciation. Upon acquisition of 412 North Church Street, a new owner can very easily increase cash flow by over $78,000 per year by year three simply by improving the online marketing and advertising of vacant units and continuing to increase rents to market rates, as allowed under AB 1482. Apartment opportunities in Lodi are rare and do not stay on the market long.
Contact Sean O’Brian for more information and access to the virtual deal room today.