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Realty Point, Inc.

admin@realtypoint.net +1(916) 936-3930

$599,000

Est. payment - /mo

1,330 SqFt

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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 1,330 sqft

Price per Sqft $450

MLS Listing ID 226125996

HOA Y/N No

Year Built 1929

Lot Size 5,000 Sqft

Acres 0.1148

Property Sub-Type Duplex

Source MLS Metrolist

Property Description

Rare turnkey value-add investment opportunity in Stockton! 1851 Lomita is already producing $3,860/month in gross rental income from two established income streams, while offering a clearly defined path to significantly increase future revenue. The property currently includes a 2-bedroom/1-bath main residence with an updated kitchen, rented at $2,300/month, plus a full-size furnished rear studio with private kitchen, bathroom and dedicated entrance, rented at $1,560/month. The real upside is in the expansion potential. Current plans contemplate an attic micro-studio projected at approximately $1,450/month and conversion of the detached garage into a 1-bedroom ADU with private outdoor space, projected at approximately $1,750/month. If completed as envisioned, projected gross rental income could reach approximately $7,060/month or $84,720 annually. Unlike properties marketed simply as having ADU potential, much of the preliminary groundwork has already been done. The permitting pathway has been explored, contractors are lined up, and project management is available to help coordinate permitting and construction for the buyer. Estimated additional buildout investment is approximately $100,000 with an anticipated 6-9 month timeline. Offered at $599,000, the projected total basis after planned improvements is approximately $699,000creating a compelling combination of immediate income and future upside. Future rents, construction costs, timelines and projected income are estimates only and are not guaranteed. Buyer to independently verify permits, approvals, plans, allowable uses, rental income, utilities, construction costs and operating expenses.

Location

State CA

County San Joaquin

Area 20701

Direction I-5 to N Pershing, R on S Tuxedo, R on N Baker L on Bedford R on Lomita

Rooms

Other Rooms Unit-1 Approx SqFt: 1100 SqFt Source: Not Measured Unit-2 Approx SqFt: 230 SqFt Source: Not Measured

Basement Partial

Interior

Heating Central, Fireplace(s)

Cooling Ceiling Fan(s), Central

Flooring Tile, Laminate

Appliance Free Standing Gas Range, Free Standing Refrigerator, Dishwasher, Microwave, Disposal

Laundry Other

Exterior

Parking Features Detached, Garage

Garage Spaces 1.0

Utilities Available Cable Available, Sewer In & Connected, Internet Available

Water Access Desc Meter on Site,Public

Roof Type Composition

Building

Lot Description Auto Sprinkler F&R

Story 1

Foundation Raised

Sewer Public Sewer

Water Meter on Site, Public

Schools

Elementary Schools Stockton Unified

Middle Schools Stockton Unified

High Schools Stockton Unified

School District San Joaquin

Others

Senior Community No

Tax ID 137-041-06

Space Rent $2,300

Special Listing Condition None

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Listed by Real Broker Technologies

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Realty Point, Inc.

+1(916) 936-3930

Real Estate Brokerage CA DRE#02212763

1851 Lomita AVE Stockton, CA 95204

Realty Point, Inc.

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

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