Poplar Manor

THE OFFERING Poplar Manor was constructed in 1970 and consists of 8 one-bedroom/one-bathroom units with approximately 550 rentable square feet each. Of the 8 units, approximately 7 have been tastefully renovated. Residents enjoy a fenced and gated community with tuck-under, off-street parking, on-site laundry, renovated units with wall heat and air, fully equipped kitchens with dining nook, spacious living room and walk-in closets. In addition to the property itself, residents love the best amenities that Stockton has to offer within a short walk, bike, or drive. Poplar Manor is conveniently located near essential employers, medical and educational centers, shopping and dining, entertainment, public transportation and major arterial highways to the best of Northern California. The investment appeal of this asset is the ability to acquire a turn-key, well maintained and professionally managed apartment complex that is strategically located between the Greater San Francisco Bay Area and Sacramento, boasts a strong history of 100% rent collections, and immediate upside in rents of over 13%. A new investor can easily exceed an already attractive actual cap rate of 5.77% within the first 12-18 months of ownership by increasing rents as allowed in the state. By increasing rents to current market levels for updated one-bedrooms, Poplar Manor achieves an impressive cap rate of over 7.2% quickly and without the need for capital improvements. With such a desirable return profile, immediate upside, and attractive price per unit, this opportunity will not be available for long. Contact Sean O'Brian to further discuss the opportunity and to submit all offers along with proof of funds.