418 Locust St - Apartments FOR SALE


Turlock, CA 95380
$1,275,000 USD
209-604-5280
418 Locust St, Turlock, CA for Sale
$1,275,000 USD
Apartments - FOR SALE
1/28
null | 5.54% Cap Rate

418 Locust St
Turlock, CA 95380


HIGHLIGHTS

  • Units fully remodeled, exterior painted in 2025, new roof in 2025
  • Rents 18% below market guaranteeing max rent increases
  • Established tenant base with average tenancy of over 5 years

OVERVIEW

Welcome to the Locust Street Apartments, a well-positioned multifamily asset located in the heart of Turlock just off Main St. & Lander. The property consists of nine 1-bedroom, 1-bathroom units situated on 0.48 acres, offering both stability and upside potential. The owner has fully remodeled seven of the nine units, with upgrades including tile flooring, granite countertops, new shower surrounds, and other modern finishes, while the remaining two units have been partially renovated. With a long-term, stable tenant base with an average of over five years of residency, this turnkey property provides reliable cash flow. Additionally, current lease rates are approximately 18% below market, ensuring strong rent growth potential and maximizing returns for the foreseeable future.

FOR SALE DETAILS

PRICE

$1,275,000 USD

PRICE/SF

$236 USD /SF

# OF UNITS

9

PRICE/UNIT

$141,667

CAP RATE

5.54%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.48 AC

LAND SF

20,909 SF

ZONING

Medium Density Residentia

APN/PARCEL ID

050-27-40

ASK ABOUT THIS PROPERTY

Jonathan HoganHogan Real EstateMore Info
209-604-5280

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Jonathan HoganHogan Real EstateMore Info
209-604-5280

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.