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
Nearby Similar for Sale
For Sale
$3,900,000
Modesto Apartment Complex - 27 Units
Prime Modesto location, 27-unit apartment building.
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Contacts
Robert Balina
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2613 Chester Dr, Modesto, California, 95350
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Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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2613 Chester Dr
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