833 Spencer Ave - Apartments FOR SALE


Modesto, CA 95351- Southwest Modesto
$949,000 USD
408-558-9800
833 Spencer Ave, Modesto, CA for Sale
$949,000 USD
Apartments - FOR SALE
1/19
null | 9% Cap Rate

833 Spencer Ave
Modesto, CA 95351
Southwest Modesto


HIGHLIGHTS

  • no seller paid utilities
  • converted garage not included in SF
  • extra lot for added future income, lots of potential

OVERVIEW

awsome cap rate due to large size of units, bonus converted garage and no utilities responsibility to owner. One of the best returns in this range and for a property in good condition. ton of new things in the property including newer roof, stucco, all tile flooring all units, new HVAC one unit, dual pane windows, some tenants messy, but property in good condition. two units are 3/1, one unit 2/1 and a bonus room, and one unit is 2/1.5. Converted garage not rented, so it can be shown, nicely remodeled, permits unknown. rental income proforma calculated very conservatively. Additional lot included onsite with future potential for added income, (storage, mobile, or different structure)

FOR SALE DETAILS

PRICE

$949,000 USD

PRICE/SF

$266 USD /SF

# OF UNITS

4

PRICE/UNIT

$237,250

CAP RATE

9%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1992

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.43 AC

LAND SF

18,731 SF

ZONING

R-1

APN/PARCEL ID

030-13-86

ASK ABOUT THIS PROPERTY

Sam RohamAlliant Real Estate And Financial Services, Inc.More Info
408-558-9800

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Sam RohamAlliant Real Estate And Financial Services, Inc.More Info
408-558-9800

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.