Welcome to an exceptional investment opportunity in the heart of Modesto. This remarkable property offers a strategic location, impressive financial potential, and a diverse range of possibilities for savvy investors. With 2 parcels of land, 6 buildings, and a total of 7 units, this gem is poised to deliver excellent returns on your investment. There are 1 3-bedroom/2-bathroom unit, 1 2-bedroom/2-bathroom unit, 2 2-bedroom/1-bathroom units, and 3 1-bedroom/1-bathroom units (2 units on the same lot have 1bed/1bath additions without permits, but permits can be pulled with ease). 3 units will be delivered vacant so you can bring them to market rents of $1400-1800, bringing in a total gross of $8000+/monthly and lots of room for growth with yearly increases.
Closed
$480,000
603 Rio Grande Ave, Modesto, CA 95351
11beds
0baths
4,208sqft
5 or More Units
Built in 1953
-- sqft lot
$-- Zestimate®
$114/sqft
$1,424 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,424/mo
Zestimate® history
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Owner options
Explore your selling options
What's special
Zillow last checked: 8 hours ago
Listing updated: February 12, 2024 at 12:52pm
Listed by:
Yusuf Nafey,
eXp Realty of California Inc.
Bought with:
Jaime Bedoy, DRE #01452493
HomeSmart PV & Associates
Source: MetroList Services of CA,MLS#: 223071701Originating MLS: MetroList Services, Inc.
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 11
- Bathrooms: 0
Heating
- Central, Varies by Unit
Cooling
- Ceiling Fan(s), Central Air, Window Unit(s), Varies by Unit
Appliances
- Included: Free-Standing Gas Oven, Free-Standing Gas Range, Gas Water Heater
Features
- Flooring: Carpet, Tile, Laminate
- Has fireplace: No
Interior area
- Total interior livable area: 4,208 sqft
Property
Parking
- Total spaces: 5
Features
- Stories: 1
- Fencing: Fenced
Lot
- Size: 0.41 Acres
Details
- Parcel number: 038038042000
- Zoning description: Multi Family Dwelling
- Special conditions: Other
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5 or More Units
Materials
- Stucco, Frame, Wood
- Roof: Composition
Condition
- Year built: 1953
Community & neighborhood
Location
- Region: Modesto
Price history
| Date | Event | Price |
|---|---|---|
| 11/17/2023 | Sold | $480,000-52%$114/sqft |
Source: Public Record Report a problem | ||
| 10/6/2023 | Pending sale | $999,000$237/sqft |
Source: MetroList Services of CA #223071701 Report a problem | ||
| 8/6/2023 | Price change | $999,000-9.1%$237/sqft |
Source: MetroList Services of CA #223071701 Report a problem | ||
| 7/29/2023 | Listed for sale | $1,099,000+478.4%$261/sqft |
Source: MetroList Services of CA #223071701 Report a problem | ||
| 7/26/2013 | Sold | $190,000$45/sqft |
Source: MetroList Services of CA #13037780 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $5,869 +4.1% | $489,600 +2% |
| 2024 | $5,640 +307.9% | $480,000 +352.7% |
| 2023 | $1,383 +2.2% | $106,034 +2% |
Find assessor info on the county website
Neighborhood: 95351
Nearby schools
GreatSchools rating
- 5/10Shackelford Elementary SchoolGrades: K-6Distance: 0.4 mi
- 3/10Evelyn Hanshaw Middle SchoolGrades: 7-8Distance: 1 mi
- 4/10Thomas Downey High SchoolGrades: 9-12Distance: 3.3 mi
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