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2920 Healthcare Way
Modesto, CA 95356
Allure at 2920 · Multifamily Property For Sale
·
100 Units
Executive Summary
Allure at 2920 is a premier 100-unit Class A multifamily community located at 2920 Healthcare Way in Modesto, California. Built in 2020, the property features a well-balanced
unit mix consisting of 12 studio units, 48 one-bedroom units, and 40 two-bedroom units, catering to a broad tenant base that includes healthcare professionals, young professionals, and long-term residents seeking high-quality housing in one of Modesto's most desirable residential corridors. Constructed with modern materials, contemporary oorplans, and an attractive amenity package, Allure offers residents an elevated living experience while providing ownership with the benets of a newer-vintage asset, including reduced maintenance requirements, lower capital expenditure exposure, and improved operational efciency compared to older multifamily properties.
A signicant investment advantage is the property's exemption from California's statewide rent control legislation (AB 1482) due to its 2020 construction. This exemption provides ownership with maximum operational exibility and the ability to adjust rents in response to market conditions without statutory rent growth limitations, creating a clear path to capture additional revenue and enhance long-term asset value. Strategically located adjacent to Kaiser Permanente Medical Center and Modesto's expanding healthcare corridor, Allure benets from one of the region's strongest and most stable employment drivers. The property's proximity to major medical facilities, retail amenities, educational institutions, and transportation corridors creates sustained rental demand from healthcare workers, professionals, and local residents seeking quality housing
close to employment centers. Population growth and continued commercial construction nearby will continue to attract more and more demand for quality housing like Allure at 2920. Combined with its modern construction, strong demographic prole, institutional-quality design, and favorable regulatory positioning, Allure at 2920 represents a rare opportunity to acquire one of the Central Valley's premier multifamily investment assets
unit mix consisting of 12 studio units, 48 one-bedroom units, and 40 two-bedroom units, catering to a broad tenant base that includes healthcare professionals, young professionals, and long-term residents seeking high-quality housing in one of Modesto's most desirable residential corridors. Constructed with modern materials, contemporary oorplans, and an attractive amenity package, Allure offers residents an elevated living experience while providing ownership with the benets of a newer-vintage asset, including reduced maintenance requirements, lower capital expenditure exposure, and improved operational efciency compared to older multifamily properties.
A signicant investment advantage is the property's exemption from California's statewide rent control legislation (AB 1482) due to its 2020 construction. This exemption provides ownership with maximum operational exibility and the ability to adjust rents in response to market conditions without statutory rent growth limitations, creating a clear path to capture additional revenue and enhance long-term asset value. Strategically located adjacent to Kaiser Permanente Medical Center and Modesto's expanding healthcare corridor, Allure benets from one of the region's strongest and most stable employment drivers. The property's proximity to major medical facilities, retail amenities, educational institutions, and transportation corridors creates sustained rental demand from healthcare workers, professionals, and local residents seeking quality housing
close to employment centers. Population growth and continued commercial construction nearby will continue to attract more and more demand for quality housing like Allure at 2920. Combined with its modern construction, strong demographic prole, institutional-quality design, and favorable regulatory positioning, Allure at 2920 represents a rare opportunity to acquire one of the Central Valley's premier multifamily investment assets
Property Facts
| Sale Type | Investment | Building Class | B |
| No. Units | 100 | Lot Size | 3.89 AC |
| Property Type | Multifamily | Building Size | 127,142 SF |
| Property Subtype | Apartment | No. Stories | 4 |
| Apartment Style | Mid-Rise | Year Built | 2020 |
| Zoning | MODSP - Specific Plan | ||
| Sale Type | Investment |
| No. Units | 100 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 3.89 AC |
| Building Size | 127,142 SF |
| No. Stories | 4 |
| Year Built | 2020 |
| Zoning | MODSP - Specific Plan |
Amenities
Unit Amenities
- Air Conditioning
- Disposal
- Washer/Dryer
- Heating
- Ceiling Fans
- Kitchen
- Oven
- Tub/Shower
Site Amenities
- Business Center
- Controlled Access
- Clubhouse
- Fitness Center
- Picnic Area
- Pool
- Gated
- Gameroom
- Package Service
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 12 | - | 453 - 497 |
| 1+1 | 48 | - | 549 - 946 |
| 2+2 | 40 | - | 997 - 1,233 |
Property Taxes
| Parcel Number | 078-70-14 | Improvements Assessment | $28,907,459 |
| Land Assessment | $3,030,809 | Total Assessment | $31,938,268 |
Property Taxes
Parcel Number
078-70-14
Land Assessment
$3,030,809
Improvements Assessment
$28,907,459
Total Assessment
$31,938,268
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