NOT LISTED FOR SALE
4 Beds
3 Baths
2,140 Sq Ft
1.63 Acres

Last Sold November 27, 2023

Last sale price $5,925,000 $2,769 Per Sq Ft

21 Days on Market

Highlights

  • 1.63 Acre Lot
  • Security Gate
  • Central Heating and Cooling System
  • No HOA
  • Garden
  • Ceiling Fan

About This Home

As of November 2023

We are pleased to present the La Espana Apartments, a thirty-one (31) unit apartment complex located at 350 S. Ham Lane in Lodi, California. The property provides an investor a unique opportunity to own an apartment complex in a high barrier to entry market, with below market rents, and a clear path to a higher return through loss to lease recovery. Built in 1965, the apartment complex is comprised of three (3), two-bedroom / two-bathroom units that are each approximately 1,200 SF, and twenty-eight (28), two-bedroom / one-bathroom units, each approximately 940 SF. Downstairs units have large, outdoor patios and five of the units feature vaulted ceilings. The apartment grounds offer residents secured assigned parking, professionally maintained grounds with large, landscaped community areas, storage, and two on-site laundry rooms. In addition to the amenities listed above, a new owner may increase revenue by instituting a utility reimbursement and fee program for storage and excess parking. Seller financing available.

Last Agent to Sell the Property

Andy Hodgson

Colliers Parrish Inten'l Inc. License #01796017 Listed on: 09/25/2023

Last Buyer's Agent

Andy Hodgson

Colliers Parrish Inten'l Inc. License #01796017 Listed on: 09/25/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1965

Lot Details

  • 1.63 Acre Lot
  • Garden

Home Design

  • Slab Foundation
  • Stucco

Interior Spaces

  • 2-Story Property
  • Ceiling Fan
  • Security Gate

Kitchen

  • Free-Standing Electric Oven
  • Dishwasher

Flooring

  • Carpet
  • Vinyl

Parking

  • 5 Open Parking Spaces
  • 36 Parking Spaces
  • Carport

Utilities

  • Central Heating and Cooling System
  • Natural Gas Connected
  • Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 033-080-05

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 31 Units

Additional Features

  • Laundry Facilities
  • 31 Leased Units

Property Details

Home Type

Multi-Family

Year Built

Built in 1965

Lot Details

0

Listing Details

  • Property Type: ResidentialIncome
  • Subtype Description: Apartments,Garden Apartments
  • Property Subtype 1: 5 or More Units
  • Stories: 2
  • Year Built: 1965
  • Stories: 2
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Gas Water Heater, Dishwasher, Free Standing Electric Oven
  • Flooring: Carpet, Vinyl
  • Price Per Square Foot: 198.03

Exterior Features

  • Construction Materials: Stucco, Wood
  • Foundation: Slab
  • Listing Price: 6120000.00
  • Lot Features: Garden

Garage/Parking

  • Open Parking Spaces: 5.00
  • Covered Parking Spaces: 31.00
  • Parking Features: Carport, Covered
  • Total Parking Spaces: 36.00

Utilities

  • Security: Security Gate, See Remarks
  • Sewer: See Remarks
  • Utilities: Cable Available, Natural Gas Connected, Electric, Internet Available
  • Cooling: Ceiling Fan(s), Central
  • Heating: Central
  • Laundry Features: In Common Area
  • Water Source: Meter on Site

Condo/Co-op/Association

  • Association: No

Schools

  • Senior High School District: Lodi Unified

Lot Info

  • Zoning Description: RMD - Medium Density Residential
  • Irrigation: See Remarks
  • Lot Size Acres: 1.6300
  • Lot Size Sq Ft: 71003.00
  • ResoLotSizeUnits: Acres

Rental Info

  • Total # Leasable: 31

Multi Family

  • Income Includes: Laundry,Parking
  • Number of Leased Units: 31
  • Number of Units: 31

Tax Info

  • Assessor Parcel Number: 033-080-05
  • Bonds/Assessments/Taxes: Unknown

MLS Schools

  • School District (County): San Joaquin
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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 List to Sale Price per Sq Ft
11/27/2023 11/27/23 Sold $5,925,000 -3.2% $2,769 / Sq Ft
10/16/2023 10/16/23 Pending -- -- --
09/25/2023 09/25/23 For Sale $6,120,000 -- $2,860 / Sq Ft
Source: MetroList

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $65,564 $6,043,000 $1,887,000 $4,156,000
2024 $63,782 $5,925,000 $1,850,000 $4,075,000
2023 $24,284 $2,220,932 $547,874 $1,673,058
2022 $23,748 $2,177,385 $537,132 $1,640,253
2021 $24,174 $2,134,692 $526,600 $1,608,092
2020 $23,551 $2,112,804 $521,201 $1,591,603
2019 $23,080 $2,071,378 $510,982 $1,560,396
2018 $22,759 $2,030,763 $500,963 $1,529,800
2017 $22,254 $1,990,945 $491,141 $1,499,804
2016 $20,869 $1,951,915 $481,513 $1,470,402
2014 $20,299 $1,884,947 $464,993 $1,419,954
Source: Public Records

Agents Affiliated with this Home

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Map

Source: MetroList

MLS Number: 223093447

MetroList
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