
Modesto, CA 95350
This High-Potential Investment Opportunity is a performing triplex listed at a List Price of $599,999, positioned well below the $610,450 Fair Market Value by 1.7%. This valuation gap offers $10,451 in Instant Equity. With a Fair Condition Rating, the property provides immediate cash flow from existing tenants, while the expansive 18,034 sqft lot offers significant value-add potential for ADU development. This is a stable, income-producing asset ideal for Buy-and-Hold Investors or seasoned operators seeking to scale in the resilient Modesto market.
Property is moderate renovation needed.
Built in 1950, this 74-year-old triplex is functional as a performing rental but shows significant dating. Interior photos reveal older finishes and the exterior grounds are unrefined; the lack of recent major renovation evidence places it in the Fair category, requiring updates to systems and cosmetics to reach modern standards.
As a performing triplex with high occupancy rates and existing tenants, this property offers immediate rental income and stability for investors looking for a turnkey asset.
The expansive 18,034 square foot lot provides significant outdoor space and potential for future value-add opportunities, such as the addition of Accessory Dwelling Units (ADUs).
Located in a strong Modesto neighborhood with limited housing inventory, the property benefits from sustained demand and a resilient tenant base in the Central Valley.
Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =18034, other record lot size in square feet = 17859. Living area discrepancy between mls listing and other public or private record. mls listing living area = 2398, other record living area = 572. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 5, other record bedroom count = 2.
Built in 1950, the property may require higher long-term maintenance costs or capital expenditures for aging systems like plumbing and electrical compared to newer builds.
With only 5 bedrooms distributed across 3 units, the individual unit configurations are likely small, which may limit the appeal to larger families and cap potential rent premiums.
A rare opportunity to acquire proven, cash flowing rental properties in the heart of Modesto, California. The Bates Initiative represents a curated collection of duplexes and triplexes positioned in strong, established neighborhoods throughout the city, each delivering consistent rental income with tenants already in place. These are not fixer-upper speculations or value-add gambles. These are performing assets in desirable Modesto locations, benefiting from the Central Valley's sustained rental demand and a tenant base that keeps them occupied and producing. With occupancy rates running near capacity across the portfolio, the income is real and the runway is long. Whether you are an investor looking to plant your first flag in the Central Valley or a seasoned operator ready to scale, the Bates Initiative offers flexibility. Individual properties are available for those looking to start or add strategically, and the full portfolio is available for acquisition by a single buyer looking to move meaningfully into one of California's most resilient rental markets. Modesto's fundamentals continue to support strong rental performance. Growing population, limited housing inventory, and consistent demand from working families make this market a dependable income engine for landlords who know what they are looking at. Opportunities like this, performing, nearly fully occupied, and available individually or as a whole, do not surface often. Inquire for property addresses, rent rolls, and financials.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 5.0 | 3.7 |
| Baths | 3.0 | 2.2 |
| Square foot | 2,398 | 1,856.182 |
| Lot Size | 18,034 | 6,342.091 |
| Price | $600.0K | $526.8K |
| Price per sq ft | $250 | $279 |
| Built year | 1950 | 1967 |
| HOA | $0 | $0 |
| Days on market | 38 | 67 |
Sep 18, 2026
$599,999
Initial Listing
Aug 23, 2012
$185,000
Public Record
Jul 5, 2001
$160,000
Public Record
Mar 9, 1999
$105,000
Public Record