1605 El Dorado Avenue, Modesto, CA 95358, Modesto, 95358 - 2 bed, 1 bath
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Modesto, CA 95358
This property presents a High-Potential Investment Opportunity with a List Price of $500,000—positioned above the $429,161 Fair Market Value. While the current valuation reflects a premium, the site offers significant upside through its two-parcel, three-unit development potential. With a Condition Rating of 5, the asset requires extensive capital expenditure to complete the mid-rehab state. The large 12,000 sqft lot and redevelopment zone status provide a blank canvas for Buy-and-Hold Investors and Contractors to execute a high-yield repositioning strategy.
Property is extensive renovation needed.
Built in 1948, this property is currently in a mid-rehab, unfinished state. While there are recent updates to flooring and bathroom tiling, the home lacks a finished kitchen, shows visible construction debris, utilizes window AC units instead of central HVAC, and is explicitly marketed as a 'value-add' redevelopment project requiring significant investment to complete.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 12000, living area = 1450.
The sale includes two adjacent parcels with three potential units, providing a rare multi-unit investment opportunity with significant value-add upside.
Ideally situated near major routes CA-99 and CA-132, the property offers excellent connectivity for residents, enhancing its long-term rental and resale appeal.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =12000, other record lot size in square feet = 5662. Living area discrepancy between mls listing and other public or private record. mls listing living area = 1450, other record living area = 928.
As a 'blank canvas' project, the property likely requires substantial investment in modernization and repairs to reach its full market potential.
Originally built in 1948, the existing structures may present challenges related to outdated systems or materials common in older residential assets.
Presenting a rare value-add opportunity in the heart of Modesto, this residential property offers savvy investors and builders the chance to unlock significant upside. Comprising multiple units across two adjacent parcels, the site is ideally situated near major commuter routes, including CA-99 and CA-132, ensuring strong connectivity and appeal for future residents. The property features a fenced-in yard and is located within a designated redevelopment and incentive zone, providing potential access to favorable programs for those looking to reposition or enhance the asset. With flexible zoning and ample lot size, the site serves as a blank canvas for creative redevelopment, expansion, or modernization strategies. Whether you're seeking to capitalize on Modesto's growth or searching for a project with substantial repositioning potential, this offering stands out as a compelling canvas for transformation. Take advantage of the area's commuter-friendly location and the inherent value-add possibilities to create a standout residential asset in a dynamic market. Sale includes two parcels, three potential units. Great investment property. Parcels nos. 056-031-006 and 056-031-007.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.0 | 9% |
| Baths | 1.0 | 2.0 | 22% |
| Square foot | 1,450 | 1,466 | 47% |
| Lot Size | 12,000 | 7,825.5 | 69% |
| Price | $500.0K | $461.5K | 66% |
| Price per sq ft | $345 | $327 | 66% |
| Built year | 1948 | 1964 | 28% |
| HOA | $0 | $0 | 50% |
| Days on market | 43 | 197 | 3% |
Apr 24, 2026
$500,000
Initial Listing
Jun 29, 2023
$250,000
Public Record