Property Detail

Description

53 apartments in four two-story buildings, built in 1972: 31 two-bedroom/one-bath and 22 one-bedroom/one-bath units in about 36,042 SF on a 1.85-acre lot. Gated garden community in Stockton's established Lincoln Village neighborhood, with spacious floor plans set around newly landscaped grounds with new sprinklers and sod. About 80% of units have been renovated, with electrical mains and subpanels replaced in 2025, about two-thirds of the HVAC units replaced, and a newly resurfaced parking lot with about 1.5 spaces per unit. Gas and electric are separately metered, and RUBS is in place on some units. Market rents run about 25% above in-place rents. In the Lincoln Unified School District, about half a mile from Lincoln Center shopping and dining, and close to Delta College, University of the Pacific and I-5. 6.77% current cap; 7.85% pro forma cap at market rents. 100% occupied per the rent roll.