203 Jones Street, Modesto, CA 95354, Modesto, 95354 - 2 bed, 2 bath
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Modesto, CA 95354
Analysis of 203 Jones Street, Modesto, CA 95354 is currently available with a list price of $1,174,000. The property maintains a Fair Condition Rating (50/100), suggesting the property is in acceptable condition with potential for value enhancement through selective updates and improvements. Located in a high-demand neighborhood within the Modesto Unified School District, this asset is categorized as a low-risk, high-reward acquisition suitable for both Buy-and-Hold Investors and Owner-Occupants willing to undertake light renovation work.
Property is moderate renovation needed.
Built in 1920, this 8-unit property is aged but functional and fully occupied, indicating consistent maintenance. While the exterior appears stable, the property lacks evidence of recent comprehensive renovations, and the analysis highlights aging infrastructure and mechanical systems typical of a century-old building.
The offering includes an owner-carry option at a 6.25% interest rate for 30 years, providing a streamlined and potentially more affordable financing alternative to traditional bank loans.
The property features city-approved plans to construct an additional apartment building on-site, offering a rare opportunity to immediately increase density and future rental income.
The existing 8-unit building is fully occupied, ensuring immediate cash flow for the investor from the day of acquisition without the need for initial leasing efforts.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =11542, other record lot size in square feet = 11325.
Originally constructed in 1920, the property may require higher long-term maintenance budgets and potential upgrades to aging mechanical, electrical, or plumbing systems.
The seller financing terms necessitate a $400,000 down payment, which represents a significant upfront cash outlay that may limit the pool of eligible buyers.
Owner carry 6.25% 30 years 400 K down 8 unit apartment building all one bed one bath room to build another apartment building is already approved by city. Fully occupied
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 2.0 | 3.5 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 5,348 | 2,067 | 75% |
| Lot Size | 11,542 | 10,639 | 50% |
| Price | $1.17M | $592.0K | 75% |
| Price per sq ft | $220 | $339 | 50% |
| Built year | 1920 | 1948 | 25% |
| HOA | $0 | $0 | 50% |
| Days on market | 401 | 237 | 0% |
Mar 17, 2025
$1,174,000
Initial Listing
Nov 27, 2024
$1,074,000
Public Record