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Listed by Yusuf Nafey • Excel Realty • 925-398-6808
$ 2,200,000
Est. payment | /mo
6,000 SqFt
$ 2,200,000
Est. payment | /mo
6,000 SqFt
Key Details
Property Type Commercial
Sub Type 5 or More Units
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $366
MLS Listing ID 41148848
HOA Y/N No
Year Built 1946
Lot Size 0.670 Acres
Property Sub-Type 5 or More Units
Source BAY EAST
Property Description
Rare 13-unit multifamily investment opportunity in Ceres. 11 units currently leased residentially, 1 unit rented as on-site storage (Unit 2), and 1 RV occupant paying monthly rent (Unit 12) — all across 7 buildings on one parcel. Residential unit mix includes eight 2BD/1BA units, two studios, and one 1BD. Unit 2 has completed plans ready for submission to build out a full 2-bedroom unit, adding significant new rental income. Current gross scheduled rent of approximately $221,400/year, with additional income from garbage reimbursements. Scheduled rent increases on Units 7 and 11 effective November 1, 2026. Tenants pay their own electric on separate meters, reimburse $30/month for garbage, and split the water bill proportionally. Owner has invested $500,000+ in capital improvements, including full roof replacements across all buildings and extensive interior renovations across nearly all units. Priced for a value-add investor or 1031 exchange buyer. Financials, rent roll, and disclosure package available to qualified buyers.
Location
State CA
County Stanislaus
Interior
Heating Baseboard
Cooling Ceiling Fan(s), Wall/Window Unit(s)
Flooring Tile
Fireplace No
Appliance Free-Standing Range, Refrigerator
Laundry No Hookups
Building
Lot Description Other
Water Public
Others
Special Listing Condition Offer As Is
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Adam Shoop
Broker Associate at LPT Realty Lic# 1782227