$740,000
$749,000
1.2%For more information regarding the value of a property, please contact us for a free consultation.
2216 Palisade AVE Modesto, CA 95350
3,250 SqFt
Key Details
Sold Price $740,000
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,250 sqft
Price per Sqft $227
Subdivision Whispering Woods
MLS Listing ID 224153354
Sold Date 04/18/25
HOA Fees $634/mo
HOA Y/N Yes
Originating Board MLS Metrolist
Year Built 1970
Lot Size 10,454 Sqft
Acres 0.24
Property Sub-Type Quadruplex
Property Description
Fantastic 4plex/ (Actually 4 Condo's with 4 Separate APN's) . This could be a very easy Value add since the 4 Individual condo's should be worth considerably more than the fourplex. These units boast a great current gross rental income of $69,060 with a current GRM of 10.84! There is still plenty of upside potential using the Rentometer 50% rent in the area the rent should be closer to $76,992 (Report Attached). At marker rents the GRM would be 9.72. All these units were updated about 4 years ago. Our pictures are for 3 of the 4 units. We will be getting pictures soon of unit #1 soon. Units 2 & # are in fair/Average Condition with normal wear and tear. Unit # 4 is in good condition with minor cosmetic defects. These units are located in the professionally managed HOA (Whispering Woods). All units are 2 bedrooms and 1 bath, central heat and air, shared garage spaces, Onsite Laundry, & courtesy patrol. All Units have access to the community pool. HOA covers landscaping, security, pool, common areas, and wall-out insurance. All must be purchased as a package with a concurrent close. Due to these being 4 individual single family parcels this portfolio may not be subject to Rent Control. Buyer to verify themselves.
Location
State CA
County Stanislaus
Area 20101
Direction South on Prescott. Right on Chrysler. Left on Powell. Left on Palisade. Home is on the corner on the Right.
Interior
Heating Central
Cooling Central
Flooring Varies by Unit
Appliance Disposal, Free Standing Electric Range
Laundry In Common Area
Exterior
Parking Features Garage, See Remarks
Garage Spaces 4.0
Utilities Available Natural Gas Connected, Electric
Amenities Available Pool
Water Access Desc Public
View City
Roof Type Composition
Topography Level
Porch Varies by Unit
Total Parking Spaces 8
Building
Lot Description Shape Irregular, Curbs/Gutters, Landscape Back, Landscape Front
Foundation Slab
Sewer Sewer Connected
Water Public
Architectural Style Contemporary
Schools
Elementary Schools Modesto City
Middle Schools Modesto City
High Schools Modesto City
School District Stanislaus
Others
HOA Fee Include MaintenanceExterior, MaintenanceGrounds
Senior Community No
Tax ID 005-085-057-000
Special Listing Condition Other
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