Great investment opportunity in Modesto California
215 H Street, Modesto CA 95351
3,937 sq ft lot suitable for building Multi-family / commercial
Property had a 3 storey 5,280 sq ft multi-family building with 8 units.
Lot Road Frontage: 45 ft
Medium Asking Price in 95351: $614,500 (Loopnet.com)
Great location:
The property is in the Modesto neighborhood in Modesto. It is located in a mixed residential/ commercial neighborhood close to local facilities, amenities and employment centers. There is a mixture of home and different types of businesses in the area. The property is right next to Leo's Grocers and within walking distance of Save Mart Grocery Store, Walgreen s, and several fast food places. A city park is 2 blocks away and there are many schools within walking distance.
According to walkscore.com is location is very walkable with a score of 81 out of 100. Nearby parks include West Side Park, Mellis Park and James Marshall Park.
The property is also close to public transport with several bus lines within 0.1 miles.
Downtown Modesto: 0.6 miles
Modesto Municipal Golf course: 0.6 miles
Doctor Medical Center: 2.7 miles
Memorial Medical Center: Sutter Health: 3.4 miles
Modesto City-County Airport: 12.5 miles
Major California cities:
San Francisco 91 miles
San Jose: 89 miles
Close to many schools:
Modesto High 0.16 miles
Small World Christian School 0.32 miles
Elliott Adult Education Center 0.64 miles
Stanislaus County Special Education 0.64 miles
Franklin Elementary 0.81 miles
Mark Twain Junior High 0.97 miles
Within 3 miles: 15 schools
Demographics (within 3 miles) (REF Loopnet)
Total Population: 117,062
Population change (2010-2013): +1.52%
White alone: 58.18% - Black/ African American: 3.47%- remaining % : Hispanic and other.
Average Household Income: $51,580
Education: High school or higher: 81%- Bachelor degree: 18.2%
Crime: Low (Trulia).
Great value:
The average listing price for ZIP code 95351 is $165,463 (Trulia.com)
Medium Asking Price in 95351: $614,500
Medium Sold Price in 95351: $453,300
Asking Price for multi-family in Modesto: $182,000/ unit
(REF: Loopnet.com)
Lot estimated value (Find the data.com): $173,810*
* http://commercial-real-estate.findthedata.com/l/7402908/215-H-St-Modesto-CA-95351
Good rental income in the area:
Renting prices are very good in the area with strong demand:
Studio/ 1 Bed $500-$600
2 Bed: $650- $750
3 Bed: $800- $1,000
(hotpads.com)
Real Estate Tax:
Low Yearly Real Estate Tax: $262
Stanislaus County California- Parcel ID #: 104-025-007-000
LOT IS Sold AS IS, WHERE IS -
Sold on Quit Claim Deed with buyer assuming real estate taxes, liens and encumbrances(if any).
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer. Buyer is responsible for $500 deed prep and doc fee as well as 8% auction premium (minimum $250).
10% non-refundable deposit (minimum $1,000), auction premium (minimum $250) and the $500 deed preparation fee to be paid within 48 hours of auction close.
Final Payment to be made within 1 week of the Auction close.
All bidders to do their due diligence and verify directly. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. Property is sold on a Quit Claim Deed or Release Deed with buyer assuming back real estate taxes of around $68k. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
