PMZ Commercial Real Estate is pleased to present 1403 Leonard Ave in Modesto, CA. This 21 unit apartment complex offers immediate rental income with strong long term potential through a value add investment strategy. The investment consists of a desirable unit mix consisting of 12 x 1 bedroom /1 bath, 8 x 2 bedroom 1 bath, and 1 x 3 bedroom/2bath all situated on a spacious 1.37 acre lot with ample parking and landscaping. Through renovation and lease up of vacant units along with increasing rents on existing tenants to market rates a proven market pro forma annual income of $262,200 can be achieved. Property is well located in Modesto minutes from HWY 99 and walking distance to Modesto Junior College. Modesto has a strong consistent rental market demand with vacancy rates under 4%. Please contact listing agent for additional information and Offering Memorandum.
Closed
$1,825,000
1403 Leonard Ave, Modesto, CA 95350
31beds
0baths
15,115sqft
5 or More Units
Built in 1948
-- sqft lot
$-- Zestimate®
$121/sqft
$1,474 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,474/mo
Zestimate® history
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$11,469/mo
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Ample parking
Zillow last checked:
Listing updated:
Listed by:
Jordan Amarant DRE #01911219 209-345-8209,
PMZ Commercial Real Estate
Bought with:
Jordan Amarant, DRE #01911219
PMZ Commercial Real Estate
Source: MetroList Services of CA,MLS#: 226005378Originating MLS: MetroList Services, Inc.
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 31
- Bathrooms: 0
Heating
- See Remarks
Cooling
- See Remarks
Features
- Flooring: See Remarks
- Has fireplace: No
Interior area
- Total structure area: 0
- Total interior livable area: 15,115 sqft
Property
Parking
- Parking features: Varies by Unit
Lot
- Size: 1.38 Acres
- Features: Other
Details
- Parcel number: 115030004000
- Zoning: Multi Family
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: 5 or More Units
Materials
- See Remarks
- Foundation: See Remarks
Condition
- Year built: 1948
Utilities & green energy
- Sewer: See Remarks
- Water: See Remarks
- Utilities for property: Sewer Connected & Paid, Electric, Internet Available, Other
Community & HOA
Location
- Region: Modesto
Financial & listing details
- Price per square foot: $121/sqft
- Tax assessed value: $2,438,619
- Price range: $2M - $1.8M
- Date on market: 1/16/2026
- Income includes: See Remarks
Price history
| Date | Event | Price |
|---|---|---|
| 6/30/2026 | Sold | $1,825,000-13.1%$121/sqft |
Source: MetroList Services of CA #226005378 Report a problem | ||
| 3/11/2026 | Pending sale | $2,100,000$139/sqft |
Source: MetroList Services of CA #226005378 Report a problem | ||
| 1/16/2026 | Listed for sale | $2,100,000$139/sqft |
Source: MetroList Services of CA #226005378 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2026 | -- | $2,438,619 +2% |
| 2025 | $27,960 +4.7% | $2,390,866 +2% |
| 2024 | $26,712 +578.5% | $2,344,364 +581.9% |
| 2023 | $3,937 +4.6% | $343,800 +2% |
| 2022 | $3,762 +6.3% | $337,122 +2% |
| 2021 | $3,538 -2% | $330,574 +0.9% |
| 2020 | $3,610 +2.5% | $327,533 +2.1% |
| 2019 | $3,523 +5.1% | $320,864 +2% |
| 2018 | $3,353 +2.5% | $314,636 +2% |
| 2017 | $3,272 +1.9% | $308,529 +1.9% |
| 2016 | $3,212 +1.5% | $302,857 +1.6% |
| 2015 | $3,164 +1.6% | $298,046 +2% |
| 2014 | $3,115 | $292,270 +5.7% |
| 2012 | -- | $276,639 |
| 2011 | -- | $276,639 +0.8% |
| 2010 | -- | $274,572 -1.4% |
| 2009 | -- | $278,373 +3.2% |
| 2008 | -- | $269,827 +2% |
| 2007 | -- | $264,537 +2% |
| 2006 | -- | $259,351 +2% |
| 2005 | -- | $254,267 +2% |
| 2004 | $2,624 +1% | $249,283 +1.9% |
| 2003 | $2,597 | $244,716 +2% |
| 2002 | -- | $239,917 +2% |
| 2001 | $2,501 -0.6% | $235,212 +2% |
| 2000 | $2,515 | $230,600 |
Find assessor info on the county website
Neighborhood: 95350
Nearby homes
- $--1 bd1 ba-- sqft1403 Leonard Ave #776F18CCB, Modesto, CA 95350Off Market
- $--2 bd2 ba-- sqft1403 Leonard Ave #F320A52C6, Modesto, CA 95350Off Market
- $--1 bd1 ba-- sqft1403 Leonard Ave #1, Modesto, CA 95350Off Market
- $280,5632 bd1 ba1.3k sqft1351 Leonard Ave, Modesto, CA 95350Off Market
- $1,8503 bd2 ba1.7k sqft1351 Leonard Ave #A, Modesto, CA 95350For Rent
- $--1 bd1 ba-- sqft1351 Leonard Ave APT 3, Modesto, CA 95350Off Market
- $--1 bd1 ba650 sqft1351 Leonard Ave APT 2, Modesto, CA 95350Off Market
- $502,5002 bd1 ba900 sqft1351 Leonard Ave APT 1, Modesto, CA 95350Off Market
Nearby schools
GreatSchools rating
- 5/10John Fremont Elementary SchoolGrades: K-6Distance: 0.6 mi
- 4/10Roosevelt Junior High SchoolGrades: 7-8Distance: 0.8 mi
- 4/10Grace M. Davis High SchoolGrades: 9-12Distance: 1.8 mi
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- California
- Stanislaus County
- Modesto
- 95350
- 1403 Leonard Ave
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