$1,780,000 Price Analysis    ♡   Modesto, CA 95354 0 bed None bath unknown SqFt ($0/SqFt) 0.32 acre lot. Built 1950 Listed 2024-05-29 | Ⓧ USDA Ineligible due to price & location near Modesto |
Introducing Sixth Street Apartments
A 14-unit property located at 416 6th St in downtown Modesto. This well-maintained complex consists entirely of one-bedroom units, making it ideal for commuting tenants due to its close proximity to freeway access. Most units have undergone upgrades in the last five years, enhancing rental potential. The units are separately metered for electricity and gas and tenants pay a utility charge each month for water, sewer and garbage.
The property features two buildings with roofs that are apprximately five years old. Currently, rents are 15-20% below market, providing new ownership with a lucrative opportunity to increase rental inco me. With its prime downtown location, Sixth Street Apartments represents an excellent investment for those looking to capitalize on Modesto's thriving rental market.
Presented by Jacob Friedrich at
Cosol Commercial Real Estate.
Property MLS #224057663 from MetroList
Heating Features: Wall Furnace
Lot Dimensions Source: SqFt
Lot Size Acres: 0.32
Lot Size Source: Assessor Agent-Fill
Lot Size Square Feet: 13939
Calculated Total Monthly Association Fees: 0
Number of Units: 14
Bedrooms in Unit-1: 1
Full Bathrooms in Unit-1: 1
Unit 1 Total Actual Rent: 1017
High School District: Modesto City
Middle or Junior School District: Modesto City
Map directions Map directions Map directions Map directionsIncome Includes: Rent Only
Source Listing Status: Active
County: Stanislaus
Cross Street: D St
Cap Rate: 6.3
Directions: Left on 7th St from Tuolumne Blvd freeway exit, left on D St, Right on 6th St
Disclaimer: All measurements and calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Copyright 2024, MetroList Services, Inc. Any offer of compensation in the real estate content on this site is made exclusively to Broker Participants of the MetroList MLS & Broker Participants of any
Source Property Type: Residential Income
Area: 20108
Source Neighborhood: 20108
Parcel Number: 103-010-008
Zoning Description: R3
Property Subtype: 5 or More Units
Source System Name: C2C
$1,780,000
MetroList
Listing removed 2024-07-25
$0
MetroList
Listed 2024-05-29
$1,850,000
MetroList
Construction Materials: Stucco, Frame
Foundation Details: Raised
Property Age: 74
Structure Type: Apartments
Natural Gas Connected
City
Electric
Water Source: Public
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.