203 Jones Street, Modesto, CA 95354, Modesto, 95354 - 2 bed, 2 bath
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203 Jones Street
Modesto, CA 95354
ACTIVE
CONDITION: FAIR
2Beds
2Baths
5,348Sq Ft
11,542Lot Size
Property Price
LIST PRICE$1,174,000
SUMMARY
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
Condition Analysis
See Full ReportOVERALL CONDITION SCORE
Fair
TeardownExcellent
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.
PROSSTRENGTHS & OPPORTUNITIES
- Attractive Seller Financing
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.
- Significant Development Upside
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.
- Turnkey Occupancy
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.
CONSRISKS & DEFICIENCIES
- MLS Listing Discrepancy
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.
- Aging Infrastructure
Originally constructed in 1920, the property may require higher long-term maintenance budgets and potential upgrades to aging mechanical, electrical, or plumbing systems.
- High Initial Capital Requirement
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.
About 203 Jones Street
Property Details
Public Facts
- Property Type
- Residential Income
- Year Built
- 1920
- Lot Size
- 11,542 Sq. Ft.
Interior
- Total Bedrooms
- 2
- Total Bathrooms
- 2 (2 Full, 0 Half)
Exterior & Parking
No exterior & parking available.
Utilities & Misc
- HOA Fee
- $0 / Month
Neighborhood Insights
Sensitive Facilities
No sensitive facilities data found.
Neighborhood Comparison
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 2.0 | 3.7 |
| Baths | 2.0 | 2.2 |
| Square foot | 5,348 | 1,856.182 |
| Lot Size | 11,542 | 6,342.091 |
| Price | $1.17M | $526.8K |
| Price per sq ft | $220 | $279 |
| Built year | 1920 | 1967 |
| HOA | $0 | $0 |
| Days on market | 586 | 67 |
Pricing History
Listed for Sale
Mar 17, 2025
$1,174,000
Initial Listing
Sold
Nov 27, 2024
$1,074,000
Public Record