$5,295,000

135 N Sheridan Ave Manteca, CA 95336

Downtown Manteca Neighborhood

Estimated payment $34,905/month

Total Views 1,327
6 Beds
4 Baths
19,796 Sq Ft
$267 Price per Sq Ft

Highlights

  • 0.88 Acre Lot
  • Fenced Yard
  • Security Gate
  • No HOA
  • Double Pane Windows
  • Landscaped

About This Home

First Commercial Real Estate is pleased to present The Palms at Sheridan, a fully renovated 25-unit multifamily community located at 135 N Sheridan Avenue in Manteca, CA. This offering represents a rare opportunity to acquire a turn-key asset in the heart of one of San Joaquin County's most consistently performing rental submarkets. Originally constructed in 1965 and fully renovated in 2021, The Palms at Sheridan features a desirable unit mix of eight (8) one-bedroom units, fifteen (15) two-bedroom units, and two (2) three-bedroom units. Each unit has been thoughtfully updated, and the property boasts significant capital improvements including new plumbing, split HVAC systems, LED Lighting, and a new roof all completed during the renovation. The property is well-maintained and professionally managed, offering residents on-site laundry, ample parking, and a convenient central location with easy access to major thoroughfares including Highway 99, I-5, and CA-120. RUBS is already in place, enhancing operational efficiency and expense recovery. Situated in the growing city of Manteca, The Palms at Sheridan benefits from strong tenant demand, low vacancy, and proximity to key employment centers in Stockton, Modesto, and Tracy, as well as commutability to the Bay Area.

Last Listed By

Colton Toste

RCB Real Estate License #01993261 Listed on: 06/02/2025

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965 | Remodeled

Lot Details

  • 0.88 Acre Lot
  • Fenced Yard
  • Landscaped

Home Design

  • Flat Roof Shape
  • Slab Foundation
  • Stucco

Interior Spaces

  • 19,796 Sq Ft Home
  • 2-Story Property
  • Double Pane Windows
  • Security Gate
  • Free-Standing Electric Oven

Flooring

  • Carpet
  • Vinyl

Parking

  • 25 Parking Spaces
  • Carport

Utilities

  • Ductless Heating Or Cooling System
  • Separate Meters
  • 220 Volts

Listing and Financial Details

  • Assessor Parcel Number 223-320-02

Community Details

Overview

  • No Home Owners Association
  • 25 Units

Amenities

  • Laundry Facilities

Building Details

  • 24 Leased Units
  • 1 Vacant Unit
  • Net Lease
  • Operating Expense $177,959
  • Net Operating Income $337,421

Property Details

Home Type

Multi-Family

Year Built

Built in 1965 | Remodeled

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Subtype Description: Apartments
  • Property Subtype 1: 5 or More Units
  • Year Built: 1965
  • Levels: Two
  • Stories: 2
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Free Standing Refrigerator, Free Standing Electric Oven
  • Flooring: Carpet, Vinyl
  • Price Per Square Foot: 267.48
  • Square Footage: 19796.00
  • Window Features: Dual Pane Full

Exterior Features

  • Construction Materials: Stucco, Wood
  • Exterior Features: Fenced Yard
  • Foundation: Slab
  • Home Warranty: No
  • Horse Property: No
  • Listing Price: 5295000.00
  • Lot Features: Curb(s), Landscape Front
  • New Construction: No
  • Pool: No
  • Property Condition: Updated/Remodeled
  • Roof: Flat
  • Spa: No

Garage/Parking

  • Covered Parking Spaces: 25.00
  • Parking Features: Carport
  • Total Parking Spaces: 25.00

Utilities

  • Security: Security Gate
  • Sewer: Public Sewer
  • Utilities: City, Electric, Other
  • Cooling: Ductless, Other
  • Electric: 220 Volts
  • Heating: Ductless, Other
  • Laundry Features: Washer/Dryer Leased, In Common Area
  • Water Source: Public
  • Separate Meters: Electricity

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Fee Information

  • Land Lease: No

Schools

  • Senior High School District: Manteca Unified

Lot Info

  • Zoning: R3
  • Irrigation: Public District
  • Lot Size Acres: 0.8765
  • Lot Size Sq Ft: 38180.00

Rental Info

  • Tenant Pays: Rent Only, Sewer, Trash Collection, Water
  • Lease Expiration Date: 1800-01-011800-01-01
  • Lease Type: Net

Multi Family

  • Gross Income: 515380
  • Operating Expense: 177959
  • Income Includes: ["Rent Only","Laundry","Other"]
  • Total Number Leasable: 25
  • Existing Lease Type: Other
  • Number of Leased Units: 24
  • Number of Units: 25
  • Number of Vacant Units: 1

Tax Info

  • Assessor Parcel Number: 223-320-02
  • Bonds/Assessments/Taxes: Unknown

MLS Schools

  • School District (County): San Joaquin

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/02/2025 06/02/25 For Sale $5,295,000 0.0% $267 / Sq Ft
05/17/2025 05/17/25 Off Market -- -- --
04/02/2025 04/02/25 Price Changed $1,595 0.0% $2 / Sq Ft
04/02/2025 04/02/25 For Rent $1,595 +6.7% --
11/04/2024 11/04/24 Off Market $1,495 -- --
10/17/2024 10/17/24 Price Changed $1,495 -6.3% $2 / Sq Ft
10/08/2024 10/08/24 Price Changed $1,595 -5.9% $2 / Sq Ft
10/08/2024 10/08/24 Price Changed $1,695 -15.0% $2 / Sq Ft
10/07/2024 10/07/24 For Rent $1,995 0.0% --
08/08/2024 08/08/24 Price Changed $1,995 +17.7% $2 / Sq Ft
07/12/2024 07/12/24 Price Changed $1,695 -1.7% $2 / Sq Ft
07/02/2024 07/02/24 Price Changed $1,725 -3.9% $2 / Sq Ft
06/25/2024 06/25/24 Price Changed $1,795 +5.9% $2 / Sq Ft
06/12/2024 06/12/24 Price Changed $1,695 +3.0% $2 / Sq Ft
06/08/2024 06/08/24 Price Changed $1,645 -2.9% $2 / Sq Ft
05/25/2024 05/25/24 Price Changed $1,695 -10.6% $2 / Sq Ft
04/25/2024 04/25/24 For Rent $1,895 -- --
Source: MetroList

Source: MetroList

MLS Number: 225071408

MetroList

California San Joaquin County Manteca 95336 Downtown Manteca

135 N Sheridan Ave, Manteca, CA

This home is located at 135 N Sheridan Ave, Manteca, CA 95336 and is currently priced at $5,295,000, approximately $267 per square foot. This property was built in 1965. 135 N Sheridan Ave is a home located in San Joaquin County with nearby schools including Lincoln Elementary School, Manteca High School, and St. Anthony's Catholic School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MetroList IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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Colton Toste
Listing Agent
Colton Toste
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RCB Real Estate
(209) 299-2990