Kelly Okimoto, Nick Sadek Sotheby's International RealtyPhone: (916) 335-3185
Email: [email protected]
Email: [email protected]
Hard to find Duplex with 2 3 Bedroom, 2 bath units located in Wagner Heights (North Stockton) . Both units were updated about 7 years ago. This property is located in the Lodi Unified School District. The current owners more recently replaced the air conditioners, water heaters and gutters. The property has a stucco exterior, tile roof and dual pane windows. Current rents are $2000 a month and $1980 a month with the tenants also paying all utilities. This is equivalent to another $200- $250 a Month. Gross scheduled income is $47,760 with a GRM of 11.51 or about $50,760 and a GRM of 10.83 after factoring in the additional utilities. Proforma Cap rate of 6.03% based on current expenses and projected taxes. You can count on stable rents because both tenants are on the Housing Voucher program with the majority of the rent GUARANTEED and direct deposited into your account each month. Offer with confidence knowing the seller is providing a pest inspection and whole house inspection that ARE ATTACHED. One is the property inspection the other shows as 3A report but IT IS ACTUALLY THE PEST AND DRY ROT REPORT.
