2523 5th St - Apartments FOR SALE


Ceres, CA 95307
$1,860,000 USD
408-333-0333
2523 5th St, Ceres, CA for Sale
$1,860,000 USD
Apartments - FOR SALE
1/46
null | 5.7% Cap Rate

2523 5th St
Ceres, CA 95307


HIGHLIGHTS

  • Easy Highway access
  • Near Downton and city hall
  • Great Potential

OVERVIEW

SELLER CARRY-BACK! Opportunity to acquire an 11-unit garden-style community located in Ceres, CA. The property consists of 8 1-bedrooms 1-bath units, 2 1-bedroom 1-bath units in a separate duplex, and a house with 2 bedrooms and 1 bathroom. The current rent for the 2-bedroom and 1-bath unit is $1,250 whereas the average achieved market rent is $1,900 for 2-bedroom units. The property is 5 minutes away from downtown Ceres. The property is a 10-minute commute to Modesto to the North and a 5-minute commute to Turlock to the South. Ceres is located along State Route 99 in Stanislaus County just south of Modesto and North of Turlock. Ceres is bordered to the west by Interstate 5 and Interstate 580 providing easy access to the Bay Area and other Central Valley cities. The property is located in the Ceres Unified School District and is surrounded by a number of highly rated schools, such as Ceres High School and Walter White School. In addition, California State University Stanislaus, Modesto Junior College, and the Petersen Alternative Center for Education are less than 10 miles away. Residents also enjoy the proximity of eleven parks in Ceres including Ceres River Bluff Regional Park a family-friendly park with a playground, recreation fields and the River Oaks Golf Course next door.

FOR SALE DETAILS

PRICE

$1,860,000 USD

PRICE/SF

$143 USD /SF

# OF UNITS

11

PRICE/UNIT

$169,091

CAP RATE

5.7%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Dormitory

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1950

PARKING SPACES

17

LAND DETAILS

LAND ACRES

1 AC

LAND SF

43,560 SF

ZONING

R3

APN/PARCEL ID

127-13-46

ASK ABOUT THIS PROPERTY

Alfred YounanMetro Realty ProsMore Info
408-333-0333

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Alfred YounanMetro Realty ProsMore Info
408-333-0333

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.