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Winchester Apartments 2424 Winchester Dr 38 Unit Apartment Building $9,905,904 CAD ($260,682 CAD/Unit) 5.77% Cap Rate Lodi, CA 95240
Investment Highlights
- Strong unit mix featuring sought-after amenities, including fireplaces, vaulted ceilings, private backyards, and in-unit washer/dryer hookups.
- Value-Add Potential
- Prime location near Reynolds Ranch retail hub (Costco, Home Depot, Sprouts).
Executive Summary
The Winchester Apartments are a 38-unit multifamily portfolio situated on four (4) separate parcels located at 2424 Winchester Dr, 2510 Winchester Dr, 2516 Winchester Dr and 722 McCoy Ct in Lodi, CA. The properties are situated on approximately ±1.93 acres totaling approximately ±32,704 square feet of rentable building area. Unit sizes range from ±600 to ±1,000 square feet, catering to strong workforce housing demand in a market characterized by steady population, growth and relative affordability.
The property is strategically located near the Reynolds Ranch master-planned retail development, one of Lodi’s most significant commercial hubs. Reynolds Ranch is anchored by national retailers including Costco Wholesale, The Home Depot, Sprouts Farmers Market, Dick’s Sporting Goods, and a growing mix of dining and service tenants. This concentration of retail and employment amenities enhances daily convenience for residents, drives traffic to the area, and supports long-term rental demand.
Winchester Apartments presents a compelling value-add opportunity driven by aging multifamily inventory and measurable mark-to-market rent upside. Many comparable properties in Lodi remain under-renovated and leased below current market levels, with renovated units in similar Central Valley markets achieving rent premiums of approximately $150 to $350 per unit per month. Targeted interior upgrades, exterior enhancements, and efficiency improvements offer a clear path to increased rental revenue, improved tenant retention, and long-term value creation.
The property is strategically located near the Reynolds Ranch master-planned retail development, one of Lodi’s most significant commercial hubs. Reynolds Ranch is anchored by national retailers including Costco Wholesale, The Home Depot, Sprouts Farmers Market, Dick’s Sporting Goods, and a growing mix of dining and service tenants. This concentration of retail and employment amenities enhances daily convenience for residents, drives traffic to the area, and supports long-term rental demand.
Winchester Apartments presents a compelling value-add opportunity driven by aging multifamily inventory and measurable mark-to-market rent upside. Many comparable properties in Lodi remain under-renovated and leased below current market levels, with renovated units in similar Central Valley markets achieving rent premiums of approximately $150 to $350 per unit per month. Targeted interior upgrades, exterior enhancements, and efficiency improvements offer a clear path to increased rental revenue, improved tenant retention, and long-term value creation.
Property Facts
| Price | $9,905,904 CAD | Building Class | C |
| Price Per Unit | $260,682 CAD | Lot Size | 1.93 AC |
| Sale Type | Investment | Building Size | 32,704 SF |
| Cap Rate | 5.77% | Average Occupancy | 97% |
| No. Units | 38 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Property Subtype | Apartment | Parking Ratio | 1.99/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | pd - medium density multi family | ||
| Price | $9,905,904 CAD |
| Price Per Unit | $260,682 CAD |
| Sale Type | Investment |
| Cap Rate | 5.77% |
| No. Units | 38 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.93 AC |
| Building Size | 32,704 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1980 |
| Parking Ratio | 1.99/1,000 SF |
| Zoning | pd - medium density multi family |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Heating
- Ceiling Fans
- Vaulted Ceiling
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Patio
- Vinyl Flooring
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 650 |
| 2+1 | 18 | - | 720 |
| 2+2 | 8 | - | 1,159 - 1,256 |
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Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $2,458,685 CAD | |
| Land Assessment | $1,615,240 CAD | Total Assessment | $4,073,926 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$1,615,240 CAD
Improvements Assessment
$2,458,685 CAD
Total Assessment
$4,073,926 CAD
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Winchester Apartments | 2424 Winchester Dr
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