2600 Rumble Rd Modesto, CA 95350
- Commercial real estate
- 23,476 SF
- 1.33 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2600 Rumble Rd
- Year built
- 2023
- Lot size
- 1.33 lot acres
- Property size
- 23,476 SF
- Property type
- Commercial real estate
- APN
- 005-037-033-000
Description
This exceptional 35-unit Class A apartment building, completed in 2023, presents a compelling investment opportunity in Modesto, California. Located at 2600 W Rumble Rd, this newly constructed property boasts 23,476 square feet on a 1.33-acre lot and features a mix of 29 one-bedroom, one-bathroom units and 6 studio units. Each unit is equipped with high-end finishes including Samsung split air units, hard surface flooring, granite countertops, stainless steel appliances, and in-unit washer/dryers. The property offers 37 covered parking spaces and secure access for residents. The current occupancy rate is 98%, generating a Net Operating Income (NOI) of $477,132, with a pro-forma NOI of $483,894, resulting in a 5.39% cap rate and a pro-forma cap rate of 5.47%. The asking price is $8,850,000, translating to $252,857 per unit and $376.98 per square foot. This seven-building, single-story complex is situated in a tranquil residential area and caters to the 55 and over market-rate demographic. The property's secure design and modern amenities make it an attractive investment with significant potential for future growth and strong returns. The property's APN is 005-037-033-000.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Modesto
- County
- Stanislaus
- State
- California
- Longitude
- -121.0427
- Latitude
- 37.6820169
