738 E Oak St, Stockton, CA 95202

8 beds4 baths2,890 sqft

For Sale by Owner
$259,000
Zestimate®: $228,756
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My Notes

Edit
Rent is below market @ $1825/mo. Zillow's estimate is ridiculous. There are actually 6 rooms in one apartment -- huge place, plus a one bedroom, and a 2 bedroom apt.
Uncomparable deal! In contrast to other bargain properties you may be looking at THIS ONE CAN BE FINANCED BY A BANK. ...No code violations or permit issues. Clearance last year provides for a 5 year exemption from inspections, and this can save you thousands of dollars. Stockton doesn't have rent control, but they have code inspectors to menace landlords. TURN KEY bargain. Live in one and you could still have positive cash flow! No problems with this property.
Full top floor apartment is over 1300sq/ft including large balcony overlooking Cal State campus a couple blocks away. 3 suites... 6 rooms, 2 baths, all in one sprawling apartment. Down below is a 2 bedroom unit with new kitchen cabinets, and plush casino style carpet which costs about $5 sq/ft installed - extra nice, and previously the owners apartment, this unit also includes a private cellar. The other downstairs apartment is 1 bdr with laminate floors and very colorful design done by a former tenant who was an artist & culinary student -- the stove in this apartment cost over $1000. All quality appliances included.
Over $150,000 was invested in recent years to upgrade this fabulous building built in 1880, including: EARTHQUAKE RETROFIT, new electrical panel, new sewer line, etc. Everything is done -- not a fixer. Just collect the rent. Good, reliable tenants.
Side and rear is all paved, plenty of parking, and in the rear is also a building about the size of a garage that was previously rented for $250/mo as a secure storage space. Rents for the whole building could be (and have been in the past) $1000, $700, and $600... so a total of over $2500/ mo is possible. Currently I only get $1825/mo because of discounts for management help -- The tenants who have all been there awhile pay the rent diligently, and take care of everything -- I just collect the rent, no fuss at all. A rent increase is overdue and coming soon, everyone knows.
The apartments are in an excellent location downtown at the end of a neighborhood -- there are no houses for a couple of blocks on one side giving a feeling of seclusion, yet close to everything. Only about 4 blocks from the ACE commuter express train to San Jose! Walking distance to the Stockton waterfront, multiplex theater, library, stadium, and ballpark (Location pictured is just a few blocks away). Downtown Stockton has seen major improvement in just the last couple of years (and it looks like they are building a skyscraper downtown at this very moment). An express lane opening this Fall may make commuting a breeze.
Why should I sell such a place that's so easy to own, and at a time when values are surging in this area? Because there is another property that I really want that is on top of a mountain where cell phones don't work, and I need cash to buy it.
The property I'm willing to sell had a certified appraisal nearly a year and a half ago for $190,000, and values have increased substantially since then, so you can get a real sweet deal right now if you act quickly. Cooperation with a tax deferred exchange is required. Iv got something else I want, and to get it I decided to sacrifice this property, but you must act quickly.
History: Previously foreclosed @ $345,000. Most California properties have recovered since the crash. Stockton lags behind, but is due to catch up. Purchased as a foreclosure by a partner in 2008, partnership adjusted in 2012, and major rehab since then. A great investment for you now. Offers involving financing must be pre-approved. Owner will carry no more than 20%, and only at full asking price.
 

What I love about the home

You can make an offer.
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Facts

  • Lot: 4,791 sqft
  • Multi Family
  • Built in 1880
  • 4 days on Zillow
  • Views: 5,028 all time views
  • 2 shoppers saved this home
  • Last sold: Jan 2012 for $75,000
  • Price/sqft: $90

Features

  • Attic
  • Barbecue
  • Ceiling Fan
  • Fenced Yard
  • Flooring: Carpet, Laminate, Tile
  • Gated Entry
  • Parking: Off street
  • Partial basement, 600 sqft
  • Patio
  • Porch
  • RV Parking
  • Storage
  • Transportation
  • View: City, Mountain, Park, Territorial

Appliances Included

  • Dryer
  • Microwave
  • Range / Oven
  • Refrigerator
  • Washer

Room Types

  • Breakfast nook
  • Dining room
  • Family room
  • Laundry room
  • Pantry
  • Walk-in closet
  • Workshop

Construction

  • Exterior material: Wood
  • Stories: 2
  • Structure type: Victorian
  • Unit count: 3

Other

  • Floor size: 2,890 sqft
  • Last remodel year: 2014
  • Laundry: In Unit
  • Parcel #: 13922406
  • Zillow Home ID: 15326194

Zestimate Details

Zestimate
A Zestimate home valuation is Zillow's estimated market value. It is not an appraisal. Use it as a starting point to determine a home's value. Learn more

The Value Range is the high and low estimate market value for which Zillow values a home. The more information, the smaller the range, and the more accurate the Zestimate. See data coverage and accuracy table

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$228,756
+$755 Last 30 days
$192K
$265K
Zestimate range
Rent Zestimate A Rent Zestimate is Zillow's estimated monthly rental price, computed using a proprietary formula. It is a starting point in determining the monthly rental price for a specific property. Learn more

The Rent Range is the high and low estimate for which an apartment or home could rent. The more information we have, the smaller the range, and the more accurate the Rent Zestimate. See data coverage and accuracy table
$863/mo
-$13 Last 30 days
$604
$1.2K
Zestimate range
Owner estimate:
Posted on 07/03/2014
$190,000
Third party appraisal

Comparable Homes

Homes like this sold for $120-250K.

$100K
$270K

Popularity on Zillow

281 views since listing
5,028 all-time (chart)
2 shoppers saved
this home to their list of favorites

Mortgages

Neighborhood: Magnolia

Zillow predicts Stockton home values will increase 9.8% next year, compared to a 11.2% increase for Stockton Metro as a whole. Among Stockton homes, this home is 49% more expensive than the midpoint (median) home, but is priced 18.3% less per square foot.

Foreclosures will be a factor impacting home values in the next several years. In Stockton, the number of foreclosures waiting to be sold is 4.4% higher than in Stockton Metro, and 34.3% higher than the national average. This higher local number may prevent Stockton home values from rising as quickly as other regions in Stockton Metro.
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Nearby

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    Rentals

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    Nearby Schools in Stockton

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    Disclaimer: School attendance zone boundaries are supplied by Maponics and are subject to change. Check with the applicable school district prior to making a decision based on these boundaries.

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