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    Property profile & analytics

    1340 Leonard Ave Modesto, CA 95359

    • Commercial real estate
    • 18,240 SF
    • 1.08 lot acres
    OFF-MARKET
    Value Estimation
    Location Intelligence
    Property ID
    US10-3239843
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 1340 Leonard Ave

    Year built
    1965
    Lot size
    1.08 lot acres
    Property size
    18,240 SF
    Property type
    Commercial real estate
    APN
    115-001-033 & 006

    Description

    This exceptional investment opportunity presents a 33-unit apartment building located at 1340 & 1460 Leonard Ave, Modesto, CA 95359. The property, situated on a 1.08-acre lot (APN: 115-001-033 & 006), boasts a total of 18,240 square feet and features 33 one-bedroom, one-bathroom units. Built in 1965 and renovated in 1967, the property currently enjoys a 98% occupancy rate, generating a Net Operating Income (NOI) of $269,757, representing a 6.35% capitalization rate. A pro-forma NOI of $343,457 projects an 8.08% capitalization rate. The asking price is $4,250,000, translating to $128,787.88 per unit and $233 per square foot. Recent capital improvements include ongoing unit upgrades and new roofs on five buildings at 1406 Leonard Avenue. This prime multifamily property, ideally located on the western edge of Modesto's desirable college area, near Modesto Junior College, offers robust rental income and a history of consistently high occupancy. The property is offered fee simple.

    Value Estimation

    Powered by Realmo proprietary methodology Last update: July 3, 2025

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Modesto
    County
    Stanislaus
    State
    California
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    1340 Leonard Ave
    Modesto, CA 95359
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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