Modesto, CA 95350,1403 Leonard AVE
Modesto, CA 95350,1403 Leonard AVE
Modesto, CA 95350,1403 Leonard AVE
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Jeanine Schulz

Jeanine Schulz

+1(916) 367-1393
$2,100,000
Est. payment /mo
15,115 SqFt
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UPDATED:

Key Details

Property Type Multi-Family

Sub Type 5 or More Units

Listing Status Active

Purchase Type For Sale

Square Footage 15,115 sqft

Price per Sqft $138

MLS Listing ID 226005378

HOA Y/N No

Year Built 1948

Lot Size 1.376 Acres

Acres 1.3756

Property Sub-Type 5 or More Units

Source MLS Metrolist

Property Description

PMZ Commercial Real Estate is pleased to present 1403 Leonard Ave in Modesto, CA. This 21 unit apartment complex offers immediate rental income with strong long term potential through a value add investment strategy. The investment consists of a desirable unit mix consisting of 12 x 1 bedroom /1 bath, 8 x 2 bedroom 1 bath, and 1 x 3 bedroom/2bath all situated on a spacious 1.37 acre lot with ample parking and landscaping. Through renovation and lease up of vacant units along with increasing rents on existing tenants to market rates a proven market pro forma annual income of $262,200 can be achieved. Property is well located in Modesto minutes from HWY 99 and walking distance to Modesto Junior College. Modesto has a strong consistent rental market demand with vacancy rates under 4%. Please contact listing agent for additional information and Offering Memorandum.

Location

State CA

County Stanislaus

Area 20103

Direction Kearney Ave to Leonard Ave to address

Interior

Heating See Remarks

Cooling See Remarks

Flooring See Remarks

Laundry Varies by Unit

Exterior

Parking Features Varies by Unit

Utilities Available Sewer Connected & Paid, Electric, Internet Available, Other

Water Access Desc See Remarks

Building

Lot Description Other

Story 1

Foundation SeeRemarks

Sewer See Remarks

Water See Remarks

Schools

School District Stanislaus

Others

Senior Community No

Tax ID 115-030-004-000

Special Listing Condition None

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MetroList® Services, Inc
Listed by PMZ Commercial Real Estate

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Jeanine Schulz

Jeanine Schulz

+1(916) 367-1393

License ID: 02060832

License ID: 02060832

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1403 Leonard AVE