1017-1021 Herndon Ave | Modesto, CA 95351
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- LoopNet Team
1017-1021 Herndon Ave
Modesto, CA 95351
Multifamily Property For Sale
·
5 Units
INVESTMENT HIGHLIGHTS
- Cash Flow: With a pro forma cap rate of 8.86%, this is one of the best multi-family investments on the market.
- Financing: Property is two separate parcels, with three and two units each, so both qualify for conventional financing.
- Location: Great location for commuters, near CA-99 and CA-132, shopping centers and schools.
- Property Condition: All units have been recently remodeled so there is minimal deferred maintenance and low annual repair costs. This includes interio
- Zoning: 1019 Herndon Rd is zoned C-1: Neighborhood Commercial. Potential for future development.
- Rental Market: Excellent rental market in Modesto, CA.
PROPERTY FACTS
| No. Units | 5 | Building Size | 2,675 SF |
| Property Type | Multifamily | Average Occupancy | 97% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built/Renovated | 1944/2022 |
| Building Class | C | Parking Ratio | 2.99/1,000 SF |
| Lot Size | 0.34 AC | ||
| Zoning | R1/C1, Stanislaus Co - 1017 - R1; 1019 - C1. | ||
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.34 AC |
| Building Size | 2,675 SF |
| Average Occupancy | 97% |
| No. Stories | 1 |
| Year Built/Renovated | 1944/2022 |
| Parking Ratio | 2.99/1,000 SF |
| Zoning | R1/C1, Stanislaus Co - 1017 - R1; 1019 - C1. |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | $1,100 | 450 |
| 2+1 | 3 | $1,213 | 700 - 750 |
| 3+1 | 1 | $1,025 | 700 |
PROPERTY TAXES
| Parcel Number | 038-41-41 | Improvements Assessment | $157,080 |
| Land Assessment | $173,400 | Total Assessment | $330,480 |
PROPERTY TAXES
Parcel Number
038-41-41
Land Assessment
$173,400
Improvements Assessment
$157,080
Total Assessment
$330,480
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