NOT LISTED FOR SALE

603 Rio Grande Ave Modesto, CA 95351

Modesto Area

Estimated Value: $477,000 - $521,083

Studio
3 Baths
-- Sq Ft
0.41 Acre Lot

Sale Details

Date Sold: November 15, 2023

Last sale price $480,000 $0 Per Sq Ft

Est. 4% increase in value since last sale

Current estimated payment $3,138 / mo

54 Days on Market

Highlights

  • Corner Lot
  • Covered Patio or Porch
  • Video Cameras
  • No HOA
  • Fenced Yard
  • Tile Flooring

About This Home

As of November 2023

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.

Last Agent to Sell the Property

Yusuf Nafey

eXp Realty of California Inc. License #02121822 Listed on: 07/29/2023

eXp Realty of California Inc.

Last Buyer's Agent

Jaime Bedoy

HomeSmart PV & Associates License #01452493

HomeSmart PV & Associates

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $13,800

Year Built

  • Built in 1953 | Remodeled

Lot Details

  • 17,886 Sq Ft Lot
  • Fenced Yard
  • Landscaped
  • Corner Lot
  • Level Lot

Home Design

  • Slab Foundation
  • Frame Construction
  • Composition Roof
  • Stucco

Interior Spaces

  • 1-Story Property
  • Ceiling Fan

Kitchen

  • Free-Standing Gas Oven
  • Free-Standing Gas Range

Flooring

  • Carpet
  • Laminate
  • Tile

Home Security

  • Security Lights
  • Video Cameras
  • Carbon Monoxide Detectors
  • Fire and Smoke Detector

Parking

  • 5 Parking Spaces
  • On-Street Parking

Outdoor Features

  • Covered Patio or Porch

Utilities

  • Central Heating and Cooling System
  • Window Unit Cooling System
  • Separate Meters
  • Natural Gas Connected
  • ENERGY STAR Qualified Water Heater
  • Gas Water Heater
  • Septic System

Listing and Financial Details

  • Tenant pays for electricity
  • Assessor Parcel Number 038-038-042-000

Community Details

Overview

  • No Home Owners Association
  • 6 Buildings
  • 7 Units

Building Details

  • 5 Leased Units
  • 2 Vacant Units
  • 5 Units Leased Month-To-Month
  • Insurance Expense $3,300
  • Net Operating Income $70,080

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$13,800

Year Built

Built in 1953 | Remodeled

Lot Details

0.41 Acres

Listing Details

  • Property Type: ResidentialIncome
  • Subtype Description: Apartments,House(s)
  • Property Subtype 1: 5 or More Units
  • Stories: 1
  • Year Built: 1953
  • ResoPropertyType: ResidentialIncome
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Free Standing Gas Oven, Free Standing Gas Range, Gas Water Heater
  • Flooring: Carpet, Tile, Laminate, Varies by Unit
  • Price Per Square Foot: 114.07

Exterior Features

  • Construction Materials: Stucco, Frame, Wood
  • Exterior Features: Fenced Yard, Yard Space
  • Foundation: Slab
  • Listing Price: 999000.00
  • Lot Features: Corner, Sidewalk, Landscape Front
  • Patio And Porch Features: Covered Patio, Varies by Unit
  • Property Condition: Updated/Remodeled, Varies by Unit
  • Roof: Composition
  • Topography: Level

Garage/Parking

  • Parking Features: Street, Varies by Unit
  • Total Parking Spaces: 5.00

Utilities

  • Security: Carbon Mon Detector, Double Strapped Water Heater, Smoke Detector, Video System, Varies By Unit, Security Lights
  • Sewer: Septic System
  • Utilities: Natural Gas Connected, City, Electric
  • Cooling: Ceiling Fan(s), Central, Window Unit(s), Varies by Unit
  • Heating: Central, Varies by Unit
  • Laundry Features: Varies by Unit
  • Water Source: Public
  • Separate Meters: Electricity

Condo/Co-op/Association

  • Association: No

Schools

  • Senior High School District: Modesto City

Lot Info

  • Zoning Description: Multi Family Dwelling
  • Irrigation: Irrigation District, Meter on Site
  • Lot Size Acres: 0.4106
  • Lot Size Sq Ft: 17886.00

Green Features

  • Energy Efficient: Water Heater

Rental Info

  • Tenant Pays: Electricity
  • Lease Term: Month To Month
  • Total # Leasable: 2

Multi Family

  • Income Includes: Rent Only
  • Existing Lease Type: See Remarks
  • Insurance Expense: 3300
  • Number of Leased Units: 5
  • Number of Month to Month Units: 5
  • Number of Units: 7
  • Number of Vacant Units: 2
  • One Bedrooms Occupied: 2
  • Two Bedrooms Occupied: 3

Tax Info

  • Assessor Parcel Number: 038-038-042-000
  • Current RE Taxes: 13800
  • Bonds/Assessments/Taxes: Unknown

MLS Schools

  • School District (County): Stanislaus

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Jul 29, 2023
Closed on
Nov 14, 2023
Sold by
Alsumeri Rage E
Bought by
Seller's Agent
Yusuf Nafey
eXp Realty of California Inc.
Buyer's Agent
Jaime Bedoy
HomeSmart PV & Associates
List Price
$1,099,000
Sold Price
$480,000
Premium/Discount to List
-$619,000
-56.32%
Views
162
Current Estimated Value
$499,042

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$19,042
Avg. Annual Appreciation
1.40%
Original Mortgage
$329,000
Interest Rate
7.49%
Mortgage Type
New Conventional

Purchase Details

Listed on
Jul 1, 2013
Closed on
Jul 24, 2013
Sold by
Wall Andrew Joe
Bought by
Dea Frances Y and Al Sumeri Fahmi
Seller's Agent
Pamela Haile
Berkshire Hathaway HomeServices-Drysdale Properties
Buyer's Agent
Ricardo Gil
Gil's Real Estate
List Price
$220,000
Sold Price
$190,000
Premium/Discount to List
-$30,000
-13.64%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
9.41%

Purchase Details

Closed on
May 30, 2007
Sold by
Wall Charles P
Bought by
The Charles Phillip Wall 2007 Revocable
Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
-- First American Title
Dea Frances Y -- First American Title
Naranjo Dayren Alejandra Ba $480,000 First American Title
Dea Frances Y $190,000 First American Title Company
The Charles Phillip Wall 2007 Revocable -- None Available
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $310,000
Closed Naranjo Dayren Alejandra Ba $329,000
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft Prior Sale
01/30/2024 01/30/24 Off Market $480,000 -- --
11/15/2023 11/15/23 Sold $480,000 -52.0% --
09/21/2023 09/21/23 Pending -- -- --
08/06/2023 08/06/23 Price Changed $999,000 -9.1% --
07/29/2023 07/29/23 For Sale $1,099,000 +478.4% --
07/26/2013 07/26/13 Sold $190,000 -13.6% $258 / Sq Ft View Prior Sale
07/12/2013 07/12/13 Pending -- -- --
07/01/2013 07/01/13 For Sale $220,000 -- $299 / Sq Ft
Source: MetroList

Tax History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

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 $5,869 $489,600 $173,400 $316,200
2024 $5,640 $480,000 $170,000 $310,000
2023 $1,383 $106,034 $17,669 $88,365
2022 $1,353 $103,956 $17,323 $86,633
2021 $1,282 $101,919 $16,984 $84,935
2020 $1,290 $100,875 $16,810 $84,065
2019 $1,268 $98,898 $16,481 $82,417
2018 $1,216 $96,959 $16,158 $80,801
2017 $1,178 $95,059 $15,842 $79,217
2016 $1,151 $93,196 $15,532 $77,664
2015 $1,161 $91,797 $15,299 $76,498
2014 $1,139 $90,000 $15,000 $75,000
Source: Public Records

Agents Affiliated with this Home

  • YN

    Seller's Agent in 2023

    Yusuf Nafey

    eXp Realty of California Inc.

    Section Image
  • Jaime Bedoy Real Estate Agent - HomeSmart PV & Associates

    Buyer's Agent in 2023

    Jaime Bedoy

    HomeSmart PV & Associates

    (209) 622-6053

    43 Total Sales

    Jaime Bedoy
    Section Image

  • PH

    Seller's Agent in 2013

    Pamela Haile

    BHHS Drysdale

    Section Image
  • Ricardo Gil Real Estate Agent - Gil's Real Estate

    Buyer's Agent in 2013

    Ricardo Gil

    Gil's Real Estate

    (209) 910-4457

    54 Total Sales

    Ricardo Gil
    Section Image
See All Agents

Map

Source: MetroList

MLS Number: 223071701

MetroList

APN: 038-38-42

California Stanislaus County Modesto 95351

603 Rio Grande Ave, Modesto, CA

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

MetroList IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Nearby Homes
Your Personal Tour Guide

Ask me questions while you tour the home.