The Marc at 1600

The Mogharebi Group is pleased to present the opportunity to acquire The Marc @ 1600 Apartments, a 100-unit multifamily community located at 1600 Standiford Avenue in Modesto, California. The community was voted second best place to live in Modesto, two years in a row. Built in 1989, this one and two story gated community is made up of 17 individual buildings that offer spacious one- and two-bedroom floorplans. All available floorplans are offered with full sized side-by-side washer dryers and central air conditioning. Approximately 64 of the 100 total units were renovated with upgraded interiors while another 17 units have received partially renovations. The fully renovated floorplans are equipped with stainless steel appliances, shaker cabinets faces, quartz countertops, undermount sinks, wood flooring, new baseboards, two toned paint, LED recessed lighting, and modern ceiling fans. The community boasts highly desirable amenities such as a resort style pool and spa, fitness center, secure parcel lockers, and a leasing office. The area surrounding The Marc @1600 Apartments is occupied by an abundance of restaurants and retail centers. The property is 2 miles away from Highway 99 and has easy access to the Bay and Sacramento areas. These positive attributes are only complimented by the property’s current operating condition, The Marc @ 1600 Apartments is offered near full occupancy with an exceptionally attractive in-place assumable 3.80% HUD loan that fully amortizes in 2057, which means you have 32 years remaining on the term and needs less than 25% down