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
$1,397 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,397/mo
Zestimate® history
Owner options
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$1,397/mo
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$1,397/mo
Rent Zestimate®
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$3,035/mo
Est. payment
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$3,035/mo
Est. payment
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List your homeWhat's special
Zillow last checked:
Listing updated:
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, Varies
- Has fireplace: No
Interior area
- Total structure area: 0
- Total interior livable area: 4,208 sqft
Property
Parking
- Total spaces: 5
- Parking features: On Street, Varies by Unit
Features
- Exterior features: Yard Space
- Fencing: Fenced
Lot
- Size: 0.41 Acres
- Features: Corner Lot, Sidewalk, Landscape Front
- Topography: Level,Level
Details
- Parcel number: 038038042000
- Zoning: Multi Family Dwelling
- Special conditions: Other
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5 or More Units
Materials
- Stucco, Frame, Wood
- Foundation: Slab
- Roof: Composition
Condition
- Year built: 1953
Utilities & green energy
- Sewer: Septic System
- Water: Public
- Utilities for property: Natural Gas Connected, City, Electric
Community & HOA
Location
- Region: Modesto
Financial & listing details
- Price per square foot: $114/sqft
- Tax assessed value: $489,600
- Annual tax amount: $5,869
- Price range: $480K - $480K
- Date on market: 2/12/2024
- Tenant pays: Electricity
- Income includes: Rent Only
Price history
| Date | Event | Price |
|---|---|---|
| 11/15/2023 | Sold | $480,000-52%$114/sqft |
Source: MetroList Services of CA #223071701 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% |
| 2022 | $1,353 +5.6% | $103,956 +2% |
| 2021 | $1,282 -0.6% | $101,919 +1% |
| 2020 | $1,290 +1.7% | $100,875 +2% |
| 2019 | $1,268 +4.3% | $98,898 +2% |
| 2018 | $1,216 +3.2% | $96,959 +2% |
| 2017 | $1,178 +2.4% | $95,059 +2% |
| 2016 | $1,151 +1.1% | $93,196 +1.5% |
| 2015 | $1,139 | $91,797 +2% |
| 2014 | $1,139 | $90,000 +242.6% |
| 2012 | -- | $26,271 |
| 2011 | -- | $26,271 +0.7% |
| 2010 | -- | $26,076 -0.2% |
| 2009 | -- | $26,137 +2% |
| 2008 | -- | $25,625 +2% |
| 2007 | -- | $25,124 |
Find assessor info on the county website
Neighborhood: 95351
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Nearby schools
GreatSchools rating
- 4/10Shackelford 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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- California
- Stanislaus County
- Modesto
- 95351
- 603 Rio Grande Ave
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