For Sale
$1,498,000

2613 Chester DrModesto, CA 95350

Eight-unit apartment complex, excellent ROI.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a meticulously maintained eight-unit apartment building situated in Modesto, California. Comprising two four-plex structures, each boasting two stories, this property offers a total of 7,176 square feet on a 14,000 square foot lot. Built in 1965, the property is zoned R3 and features eight units, each a two-bedroom, one-bathroom apartment. All units are currently 100% occupied, generating a substantial net operating income (NOI) of $88,363, resulting in a compelling 5.90% capitalization rate. The asking price is $1,498,000, translating to $187,250 per unit and $208.75 per square foot. Conveniently located at 2613 Chester Drive, Modesto, CA 95350 (APN: 060-013-041-000 and 060-013-042-000), this property enjoys proximity to major roadways like Highway 99 and McHenry Avenue, as well as popular shopping destinations including Vintage Faire Mall, Costco, Target, and Walmart. The property's location also offers easy access to local amenities such as hospitals, restaurants, and schools. Each unit features a spacious living room, a separate dining area, and an open kitchen layout. This property is ideally suited for a 1031 exchange.

Highlights

  • Exceptional eight-unit apartment building investment opportunity in Modesto, CA.
  • Two four-plex structures totaling 7,176 square feet on a 14,000 square foot lot.
  • Eight 2-bed/1-bath units, currently 100% occupied, generating $88,363 NOI.
  • $1,498,000 asking price; $187,250 per unit; $208.75 per square foot; 5.90% cap rate.
  • Located near Highway 99, McHenry Avenue, and major retail (Vintage Faire Mall, Costco, Target, Walmart).

Property Details for 2613 Chester Dr

Property type
Apartment buildings
Square Feet
7,176 SF
Year Built
1965
Buildings
2
Stories
2
Units
8

Location Insight

City
Modesto
County
Stanislaus
State
California
Latitude
37.6796227
Longitude
-121.0310715
2613 Chester Dr, Modesto, California

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2613 Chester Dr
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