The 12,109 SF building has 29 jack-and-jill studio units on the upper floors that provide positive cash flow.
Two vacant retail spaces on the ground floor create a value-add opportunity. Large 4,000 SF basement for storage.
Included in the sale is a 5,000 SF paved and gated income-producing parking lot adjacent to the building.
Located in Stockton’s Opportunity Zone.
Purchase Price: $745,000
Parcel Number: 149-200-040
Lot Size: 5,000 SF
Building Size: ±12,109 SF
Parking Lot: 5,000 SF
Zoning: CD (Commercial Downtown)
Commission: 6% (3% listing, 3% selling)
Building Statistics
• 29 residential units on three floors
• Shared kitchen facility
• Two vacant ground floor retail spaces available to renovate and lease
• Low maintenance brick exterior
• 8 security cameras in place
• Walkable score of 92
• Zoned Commercial Downtown (CD)
• Located in Stockton’s Opportunity Zone
• Neighboring businesses are TEAM Charter School (K-8th Grade), Trail Coffee Roastery, and CalMain lofts with 30 new loft apartments almost completed
• Huge potential for growth on this busy block!
Building History
The Hotel Merrill was built in 1925. Between 1930 and 1945, Turner Hard-ware occupied this building.
By 1950, Montgomery Ward & Co. occupied 20-30 North American.
The 1917 Sanborn Map for the City of Stockton did not record the current building.
The 1950 Sanborn Map shows the current building and noted the owner as Montgomery Ward & Co.
Sometime after 1950, a neon sign was mounted on the facade and a painted sign on the side of this building announced it as the Hotel Merrill.
