1617 N El Dorado Street, Stockton, CA 95204

Property Description

RARE opportunity to own a well-maintained, income-producing four-plex in one of Stockton's most desirable and walkable neighborhoods. Just moments from Miracle Mile, Downtown Stockton, and the University of the Pacific (UOP). Multi-family properties with four units are becoming increasingly difficult to find, making this an exceptional opportunity for investors or owner-occupants seeking long-term value and stable cash flow. Blending timeless 1920s character with thoughtful modern updates, this charming property offers both strong investment fundamentals and an appealing lifestyle for tenants. Residents enjoy being within walking distance to an exciting mix of local restaurants featuring Japanese, Laotian, Thai, Chinese, Korean, Greek, Hispanic, and classic American cuisine, along with boutique shopping, coffee houses, breweries, ice cream shops, and vibrant neighborhood amenities. The fully occupied property features four spacious units with functional layouts designed for comfortable everyday living. The two upstairs units are occupied by long-term tenants and offer generous living spaces with separate living and family rooms, spacious kitchens, and classic architectural charm. The two downstairs units have been tastefully updated with modern finishes while preserving the property's original character. Unit 1617 is a beautifully renovated two-bedroom unit featuring a modernized kitchen and bathroom, updated flooring, contemporary lighting, and refreshed finishes throughout. Unit 1623 offers a spacious two-bedroom layout with newer flooring, countertops, appliances, updated lighting and ceiling fans, plus a cozy bedroom fireplace that adds warmth and charm. Both downstairs units enjoy access to a welcoming covered front porch, enhancing curb appeal and outdoor living space. Generating approximately $5,432 in monthly rental income and $65,184 annually, this property offers immediate cash flow with future upside potential. Priced at $729,999 with an attractive GRM of approximately 11.20% and estimate cap rate 6% to 6.5%, this investment presents a compelling opportunity in a highly desirable rental corridor. Whether you're a seasoned investor looking to expand your portfolio, or an owner-occupant interested in living in one unit while generating rental income from the others, this four-plex offers flexibility, stability, location, and long-term growth potential in the heart of Stockton.