312 S Santa Cruz Ave
Modesto, CA 95354
312 S. Santa Cruz Ave Modesto Ca 95354-3715 · Multifamily Property For Sale
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2 Units
Property Facts
| No. Units | 2 | Lot Size | 0.17 AC |
| Property Type | Multifamily | Building Size | 1,400 SF |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Low-Rise | Year Built | 1950 |
| Building Class | C | Parking Ratio | 1.43/1,000 SF |
| Zoning | R3 | ||
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 1,400 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 1.43/1,000 SF |
| Zoning | R3 |
Amenities
Site Amenities
- Bicycle Storage
About 312 S SANTA CRUZ AVE , MODESTO, CA 95354
Duplex! 2 Units at an affordable price. $ 268,500. Great investment property that boasts two units that are 2/1 and approx. 700 sq ft each. One unit is vacant and ready to see w/ appointment with me. Front unit has been rehabbed. Each unit has inside laundry hookups and its own covered/garage parking. New Roof and currently being hooked up to city sewer line! Big lot with room for expanding on this R3 Lot. ADD ANOTHER UNIT! Actual Gross Annual Income is $ 21,600 GRM IS 12.43 AND CAP RATE IS 5.6% . Proforma Gross Annual Income is $ 28.800 GRM IS AN OUTSTANDING 9.32 AND CAP RATE IS A VERY TASTY 7.5% ! THE OBVIOUS VALUE ADD IS PLACING A NEW TENANT AT FULL AND FAIR MARKET RENT ( SEE RENTAL ANALYSIS) WHICH IS $ 1,200 EACH UNIT PER MONTH. WHICH BRINGS THE PROFORMA GROSS ANNUAL INCOME TO $ 28,800.
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | - | 700 |
Property Taxes
| Parcel Number | 035-33-18 | Improvements Assessment | $82,715 |
| Land Assessment | $29,534 | Total Assessment | $112,249 |
Property Taxes
