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https://www.londonproperties.com/property/link/metrolist/226005378/1403-Leonard-Ave/Modesto/https://www.londonproperties.com/images/props/metrolist/full/226005378.jpgLondon Properties Modesto Real Estate | 1403 Leonard Ave
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.
Property Type
ResidentialIncome
Property Subtype 1
5 or More Units
Subtype Description
House(s)
Year Built
1948
Year Built Source
Assessor Auto-Fill
Stories
1
# of Buildings
10
Total Units
21
# of Floors
2
Directions to Property
Kearney Ave to Leonard Ave to address
Cross Street
Kearney Ave
County
Stanislaus
Special Listing Conditions
None
Construction Materials
See Remarks
Foundation
SeeRemarks
Heating
See Remarks
Cooling
See Remarks
Laundry Features
Varies by Unit
Flooring
See Remarks
Total Units
21
# of 1 Bedroom Units
12
# of 2 Bedroom Units
8
# of 3 Bedroom Units
1
Utilities
Sewer Connected & Paid, Electric, Internet Available, Other
Irrigation
See Remarks
Water Source
See Remarks
Sewer
See Remarks
Parking Features
Varies by Unit
Lot Features
Other
APN
115 030 004 000
Zoning Description
Multi Family
List AOR
MetroList Services, Inc.
Association
No
School District (County)
Stanislaus
Total # Leasable
21
Income Includes
See Remarks
71109
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0
Courtesy of Jordan Amarant, PMZ Commercial Real Estate IDX provided by Reliance Marketing
The data relating to real estate for sale on this web site comes in part from the Internet Data eXchange (IDX) of the Multiple Listing Service. Real estate listings are marked with the IDX logo and detailed information about them includes the name of the listing broker and the name of the listing agent. The information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Information herein deemed reliable but not guaranteed, representations are approximate, individual verification recommended.
