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120 E Fairmont Ave
Modesto, CA 95354
15 Units with Rent Upside · Multifamily Property For Sale
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15 Units
PROPERTY FACTS
| No. Units | 15 | Lot Size | 0.51 AC |
| Property Type | Multifamily | Building Size | 10,497 SF |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built/Renovated | 1968/2016 |
| Building Class | C | Parking Ratio | 1.91/1,000 SF |
| Zoning | R4, Modesto | ||
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 10,497 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2016 |
| Parking Ratio | 1.91/1,000 SF |
| Zoning | R4, Modesto |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Storage Space
- Window Coverings
ABOUT 120 E FAIRMONT AVE , MODESTO, CA 95354
120 E Fairmont is a very well maintained, 100% Leased complex, which boasts an excellent unit mix of (7) 1B/1B; (7) 2B/1B; and (1) Single-Family Residence units. The Roof was replaced in 2014 plus each unit features individual water heaters, central HVAC, garbage disposals, storage closets, and covered carport parking (20 spaces). 120 E Fairmont is a great investor property because it offers true upside in rents based on a recent rent survey, below market rents, low monthly expenses, minimal maintenance, separately metered electric/gas where tenants pay majority of their expenses, and onsite laundry facility. 120 E Fairmont remains at historically high occupancy minimizing the turnover / maintenance repair costs. The owner maintains low monthly operating expenses because he does any maintenance work needed at the property, leasing, landscaping, and much more. Since the owner does the majority of the work and management he keeps rents below market because he does not want to deal with maintenance / turnover costs as he works full-time in the Bay Area. 120 E Fairmont is ideally located just a few blocks from McHenry Drive which is a major thoroughfare artery through Modesto. Tenants can easily walk or drive to major commercial amenities such as Safeway, Sprouts, CVS, Walgreens, Starbucks, or other neighborhood centers. 120 E Fairmont is surrounded by established residential housing.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | - | 625 |
| 2+1 | 7 | - | 725 |
| 3+1 | 1 | - | 1,250 |
PROPERTY TAXES
| Parcel Number | 112-45-29 | Improvements Assessment | $1,553,418 |
| Land Assessment | $152,466 | Total Assessment | $1,705,884 |
PROPERTY TAXES
