1403 Leonard Ave Modesto, CA 95350
Estimated payment $13,202/month
About This Home
PMZ Commercial Real Estate is pleased to present 1403 Leonard Ave in Modesto, CA. This 21 unit apartment complex offers immediate rental income with strong long term potential through a value add investment strategy. The investment consists of a desirable unit mix consisting of 12 x 1 bedroom /1 bath, 8 x 2 bedroom 1 bath, and 1 x 3 bedroom/2bath all situated on a spacious 1.37 acre lot with ample parking and landscaping. Through renovation and lease up of vacant units along with increasing rents on existing tenants to market rates a proven market pro forma annual income of $262,200 can be achieved. Property is well located in Modesto minutes from HWY 99 and walking distance to Modesto Junior College. Modesto has a strong consistent rental market demand with vacancy rates under 4%. Please contact listing agent for additional information and Offering Memorandum.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1948
Interior Spaces
- 15,115 Sq Ft Home
- 1-Story Property
Additional Features
- 1.38 Acre Lot
- High Speed Internet
Listing and Financial Details
- Assessor Parcel Number 115-030-004-000
Community Details
Overview
- No Home Owners Association
- 10 Buildings
- 21 Units
Building Details
- 17 Leased Units
- 4 Vacant Units
Map
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $27,960 | $2,390,866 | $506,195 | $1,884,671 |
| 2024 | $26,712 | $2,344,364 | $496,270 | $1,848,094 |
| 2023 | $3,937 | $343,800 | $82,455 | $261,345 |
| 2022 | $3,762 | $337,122 | $80,839 | $256,283 |
| 2021 | $3,538 | $330,574 | $79,254 | $251,320 |
| 2020 | $3,610 | $327,533 | $78,442 | $249,091 |
| 2019 | $3,523 | $320,864 | $76,904 | $243,960 |
| 2018 | $3,353 | $314,636 | $75,397 | $239,239 |
| 2017 | $3,272 | $308,529 | $73,919 | $234,610 |
| 2016 | $3,212 | $302,857 | $72,470 | $230,387 |
| 2015 | $3,164 | $298,046 | $71,382 | $226,664 |
| 2014 | $3,115 | $292,270 | $69,984 | $222,286 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 01/16/2026 01/16/26 | For Sale | $2,100,000 | -- | $139 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | None Available |
Source: MetroList
MLS Number: 226005378
APN: 115-30-04
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