Property Listing No Longer Available for Sale

617 Tully Road, Modesto, CA

Multi-family for Sale - $1,275,000 - 12,280 Sq. Ft. on 0.53 acres


Property Info

CIMLS#859402
Location
  617 Tully Road
  Modesto CA 95350
UpdatedMay 27th, 2016
TypeMulti-family
Price$1,275,000
Building12,280 Sq. Ft.
Land0.53 acres

Property Description

Willow Glen Apartments is a 16 unit multifamily property centrally located in

Modesto within a strong rental market. Willow Glen is comprised of 8 - 2B/1B and 8 - 1B/1B units with an average square footage of 768 SF. Willow Glen features spacious floor plans, ample onsite parking, and laundry facility. The units are separately metered for electric and gas. The ownership has made capital improvements such as exterior paint, railings, decks, and signage.

Willow Glen represents a turn-key investment because the ownership has

gone through and stabilized the rent roll and improved many of the units. Various units have had increases in rents and occupancy remains at 100%.

Various units are still below market rent and represents upside rent potential for a new owner.

Willow Glen is located directly across the street from Modesto Jr. College and walking distance to restaurants and other commercial amenities.

Location Description:

Willow Glen Apartments is located directly across the street from Modesto Jr. College and walking distance to various employers.

Highlights:

>> Desirable Unit Mix with 50% 2 Bed/1 Bath

>> 100% Occupancy

>> Rents have been increased on various units

>> One block from Modesto Jr. College

>> Upside rent potential in various units

>> *RUBS has been implemented for additional $45 per month/unit

>> Onsite Laundry Facility

>> Dual Pane Windows

>> Strong Rental Market

>> Stable Rent Roll

* Email for additional photos


Financials

Sales Info:

>> Commision split: 2.5%