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Multifamily

Claremont Manor Apartments

347 Flora St, Stockton, CA 95202

Listing Price: Request For Offer

Number of Units
52
Occupancy
100.0%
Gross SF
21,971

Investment Overview

Marcus & Millichap is proud to present the Claremont Manor Apartments. Claremont Manor is a 52 unit Senior Affordable Housing property in Stockton, California. The subject property, built in 1981, is made up of (48) one-bedroom units and (3) two-bedroom units. In the past several years, the property has been updated with new roof, new windows, landscaping, plumbing, and unit interiors, exterior paint and security gates. The Claremont Manor apartments benefit from a 100 percent project-based voucher section 8 rent subsidy contract via 15 year PBV HAP contract that runs through 2031. Claremont Manor apartments is located in a qualified (130 percent basis) census track for Low Income Housing Tax Credit Rehabilitation and in a Qualified Opportunity Zone. The subject property is in Stockton, California. Today, Stockton is a growing city of approximately 312,000, making it the 13th largest city in California. Stockton sits on the Delta, at the confluence of the largest rivers in California, and between I-5 and Highway 99, with easy access to the San Francisco Bay Area by water or Freeway. The buyer of Claremont Manor will benefit from the government backed HAP contract providing rental assistance, and the long term nature of Senior Housing that cuts down on turnover and vacancy.

Investment Highlights

  • Two Months Vacancy Payment Guaranteed
  • HAP Waiting List
  • HAP Contract Through 2031 with Five Years Renewal Option
  • New Roof, New Plumbing, New Gate and New Dual Pane Windows
  • A Unit Mix of (48) One-Bedroom Units and (3) Two-Bedroom Units - 52 Units Total
  • Senior and Disabled HACSJHAP Vouchers
  • 100 Percent Occupied

Exclusively Listed By

Financing By

Multifamily

Claremont Manor Apartments

Listing Price: Request For Offer

Number of Units
52
Occupancy
100.0%
Gross SF
21,971

Investment Highlights

  • Two Months Vacancy Payment Guaranteed
  • HAP Waiting List
  • HAP Contract Through 2031 with Five Years Renewal Option
  • New Roof, New Plumbing, New Gate and New Dual Pane Windows
  • A Unit Mix of (48) One-Bedroom Units and (3) Two-Bedroom Units - 52 Units Total
  • Senior and Disabled HACSJHAP Vouchers
  • 100 Percent Occupied

Investment Overview

Marcus & Millichap is proud to present the Claremont Manor Apartments. Claremont Manor is a 52 unit Senior Affordable Housing property in Stockton, California. The subject property, built in 1981, is made up of (48) one-bedroom units and (3) two-bedroom units. In the past several years, the property has been updated with new roof, new windows, landscaping, plumbing, and unit interiors, exterior paint and security gates. The Claremont Manor apartments benefit from a 100 percent project-based voucher section 8 rent subsidy contract via 15 year PBV HAP contract that runs through 2031. Claremont Manor apartments is located in a qualified (130 percent basis) census track for Low Income Housing Tax Credit Rehabilitation and in a Qualified Opportunity Zone. The subject property is in Stockton, California. Today, Stockton is a growing city of approximately 312,000, making it the 13th largest city in California. Stockton sits on the Delta, at the confluence of the largest rivers in California, and between I-5 and Highway 99, with easy access to the San Francisco Bay Area by water or Freeway. The buyer of Claremont Manor will benefit from the government backed HAP contract providing rental assistance, and the long term nature of Senior Housing that cuts down on turnover and vacancy.

Exclusively Listed By

Financing By

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