$575,000
$575,000
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7,475 Sqft Lot
SOLD DATE : 01/18/2023
Key Details
Sold Price $575,000
Property Type Multi-Family
Sub Type Duplex
Listing Status Sold
Purchase Type For Sale
Subdivision Quail Lakes
MLS Listing ID 222000193
Sold Date 01/18/23
HOA Fees $29/ann
HOA Y/N Yes
Originating Board MLS Metrolist
Year Built 1977
Lot Size 7,475 Sqft
Acres 0.1716
Property Description
Excellent turn-key investment. A great opportunity to own a duplex in beautiful centrally located Quail Lakes. Located on a quiet street, both units have 3 bedrooms, 2 full baths, & a 2-car garage. Both units feature spacious Living Rooms w/ cozy fireplaces, Master Suites, attached garages, & inside laundries. Durable long-lasting tile roofs & low maintenance yards. Tenants pay ALL utilities. Close to everything; award winning schools, colleges, shopping & parks. PLEASE DO NOT DISTURB THE TENANTS. All units are rented. Total annual rents are $39,540. GRM is 14.54 and 6.9% Cap Rate. Similar units in the neighborhood recently rented for $2,095 per month! Potential annual rents of $50,280 with a GRM of 11.44 and 8.74% Cap Rate! A fantastic investment opportunity. A portfolio of up to 11 duplex are available in beautiful centrally located Quail Lakes.
Location
State CA
County San Joaquin
Area 20704
Direction From I5, Exit March Lane East, to LEFT on Quail Lakes Drive, to RIGHT on Passero Way to the property on the RIGHT.
Rooms
Basement None
Interior
Interior Features Vaulted Ceiling(s)
Heating Central, Separate, Fireplace(s), Natural Gas
Cooling Separate, Central
Flooring Carpet, Laminate, Linoleum, Varies by Unit
Window Features Varies by Unit
Appliance Gas Water Heater, Dishwasher, Disposal, Free Standing Electric Range
Laundry In Each Unit, Washer/Dryer Hookups
Exterior
Exterior Feature Fenced Yard, Yard Space
Parking Features Attached, Garage, Garage Door Opener, Interior Access
Garage Spaces 4.0
Utilities Available Natural Gas Connected
Amenities Available None
Water Access Desc Meter on Site,Public
Roof Type Tile
Topography Level
Porch Uncovered Patio
Total Parking Spaces 8
Building
Lot Description Shape Regular, Curbs/Gutters, Sidewalk, Landscape Back, Landscape Front
Story 1
Foundation Slab
Sewer In & Connected
Water Meter on Site, Public
Architectural Style Contemporary
Level or Stories One
Schools
Elementary Schools Stockton Unified
Middle Schools Stockton Unified
High Schools Stockton Unified
School District San Joaquin
Others
Senior Community No
Tax ID 108-050-38
Special Listing Condition None
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Bought with Alliance Bay Realty
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