Seller's Agent in 2024
colin hoogendoorn
HomeSmart PV & Associates
(209) 815-2887
1 in this area
15 Total Sales
616 Leon Ave Modesto, CA 95351
West Modesto NeighborhoodEstimated Value: $677,656 - $832,000
8
Beds
4
Baths
2,952
Sq Ft
$256/Sq Ft
Est. Value
Highlights
- City View
- A-Frame Home
- Fenced Yard
- 0.48 Acre Lot
- No HOA
- Storage
About This Home
As of February 2024Presenting a fantastic investment opportunity: a fully stabilized four-plex featuring a robust cap rate of 10.12% and a gross annual income surpassing $80,000, resulting in an impressive annualized ROI of 16.25%. With rental incomes ranging from $1,600 to $1,700 per unit, this property has a history of dependable tenants and strong financial performance, making it an attractive choice for any real estate portfolio. Additionally, it holds potential for first-time homebuyers, as the rental income can be leveraged to help qualify for the purchase. This property offers compelling financial returns and the added potential for residential flexibility, making it an outstanding investment opportunity with its attractive cap rate and solid rental income. In addition to that, this property offers a half-acre lot requiring very little maintenance. Additionally, the air conditioning units and heaters are new, with the roof being installed last year. With parking available for 12 cars inside the property, each unit is equipped with separate electric and gas meters, as well as new flooring inside all the units. Furthermore, two new water heaters were recently installed with permits, adding to the property's appeal and value.
Last Agent to Sell the Property
HomeSmart PV & Associates License #02221855 Listed on: 02/01/2024
Last Buyer's Agent
HomeSmart PV & Associates License #02221855 Listed on: 02/01/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,324
Year Built
- Built in 1968 | Remodeled
Lot Details
- 0.48 Acre Lot
- Fenced Yard
- Level Lot
Property Views
- City
- Valley
Home Design
- Quadruplex
- A-Frame Home
- Concrete Foundation
- Composition Roof
- Concrete Perimeter Foundation
- Stucco
Interior Spaces
- 1-Story Property
- Ceiling Fan
- Storage
- Tile Flooring
- Carbon Monoxide Detectors
Kitchen
- Free-Standing Gas Oven
- Free-Standing Gas Range
Parking
- 12 Parking Spaces
- Carport
- Guest Parking
Utilities
- Cooling System Mounted In Outer Wall Opening
- Wall Furnace
- Natural Gas Connected
- Gas Water Heater
- Septic System
- High Speed Internet
- Cable TV Available
Listing and Financial Details
- Security Deposit $4,200
- Tenant pays for electricity, sewer, gas
- Assessor Parcel Number 037-030-022-000
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 4 Units
Building Details
- 4 Leased Units
- 2 Units Leased Month-To-Month
- Insurance Expense $145
- Net Operating Income $71,776
Additional Features
- Laundry Facilities
- Building Fire Alarm
Ownership History
Date
Name
Owned For
Owner Type
Purchase Details
Listed on
Feb 1, 2024
Closed on
Feb 14, 2024
Sold by
Lacey James Stephen and Dosanjh Jagjeet
Bought by
Delos Santos Jesus and De Los Santos
Seller's Agent
colin hoogendoorn
HomeSmart PV & Associates
Buyer's Agent
colin hoogendoorn
HomeSmart PV & Associates
List Price
$709,000
Sold Price
$742,000
Premium/Discount to List
$33,000
4.65%
Views
57
Current Estimated Value
Home Financials for this Owner
Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$12,828
Avg. Annual Appreciation
0.92%
Purchase Details
Listed on
Feb 1, 2024
Closed on
Feb 13, 2024
Sold by
Delos Santos Jesus and Delos Maria
Bought by
Patchipulusu Srivamsi and Bodla Sneha
Seller's Agent
colin hoogendoorn
HomeSmart PV & Associates
Buyer's Agent
colin hoogendoorn
HomeSmart PV & Associates
List Price
$709,000
Sold Price
$742,000
Premium/Discount to List
$33,000
4.65%
Views
57
Purchase Details
Closed on
Aug 12, 2005
Sold by
Winters Herman C
Bought by
Winters Herman C and Winters Shirley J
Create a Home Valuation Report for This Property
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Home Values in the Area
Average Home Value in this Area
Purchase History
| Date | Buyer | Sale Price | Title Company |
|---|---|---|---|
| Delos Santos Jesus | $638,000 | Socal Title Company | |
| Patchipulusu Srivamsi | $742,000 | Socal Title Company | |
| Winters Herman C | -- | -- |
Source: Public Records
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 02/21/2024 02/21/24 | Sold | $742,000 | +4.7% | $251 / Sq Ft |
| 02/09/2024 02/09/24 | Pending | -- | -- | -- |
| 02/01/2024 02/01/24 | For Sale | $709,000 | -- | $240 / Sq Ft |
Source: MetroList
Tax History Compared to Growth
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 | $9,018 | $756,840 | $173,400 | $583,440 |
| 2024 | $5,441 | $462,978 | $176,868 | $286,110 |
| 2023 | $5,362 | $453,900 | $173,400 | $280,500 |
| 2022 | $1,069 | $79,448 | $11,253 | $68,195 |
| 2021 | $1,015 | $77,891 | $11,033 | $66,858 |
| 2020 | $1,030 | $77,093 | $10,920 | $66,173 |
| 2019 | $1,009 | $75,582 | $10,706 | $64,876 |
| 2018 | $967 | $74,101 | $10,497 | $63,604 |
| 2017 | $948 | $72,649 | $10,292 | $62,357 |
| 2016 | $932 | $71,226 | $10,091 | $61,135 |
| 2015 | $922 | $70,157 | $9,940 | $60,217 |
| 2014 | $907 | $68,784 | $9,746 | $59,038 |
Source: Public Records
Agents Affiliated with this Home
-
colin hoogendoorn
Map
Source: MetroList
MLS Number: 224009791
APN: 037-30-22
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