228 Elm Ave, Manteca, CA 95336, Manteca, 95336 - 8 bed, 0 bath
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Manteca, CA 95336
This Quadruplex Residential Income Asset is a High-Potential Investment Opportunity, listed at $900,000—positioned well below the $898,571 Fair Market Value (priced at market). With a Fair Condition Rating, the property offers significant upside through modernization of the three occupied units. Featuring Individual Garages and a strategic location near Highway 99, this asset provides immediate flexibility for value-add repositioning. This is an ideal acquisition for Buy-and-Hold Investors looking to capture market rents or Owner-Occupants seeking to offset mortgage costs through rental income.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 228 Elm Ave Subject | $900,000* List Price | 8 | 0 | 3,120 | $288 | - |
A 215 N Lincoln Avenue Sold | $650,000 | 4 | 3 | 2,300 | $283 | 0.4 mi |
B 215 N Lincoln Avenue Active | $795,550 List Price | 4 | 3 | 2,300 | $346 | 0.4 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1994, the property is 30 years old and fits the 'Fair' criteria as a dated asset requiring updates. While one unit has received recent cosmetic refreshments (paint, carpet, lighting), the remaining three units are likely original. Aerial photos show significant moss and wear on the roof, and the 'value-add' description confirms that kitchens, baths, and systems likely need modernization to achieve market rents.
With three units on month-to-month leases at below-market rents and one unit already vacant, investors have an immediate opportunity to reposition the asset and significantly increase the gross rental income.
Each of the four units includes its own private garage, a highly desirable amenity for tenants that provides a competitive edge over other multi-family properties in the area.
The property is ideally situated in East Manteca, offering walking distance to shopping centers and quick access to Highway 99, Highway 120, and Kaiser Permanente, ensuring consistent rental demand.
The current below-market rents mean the property is not operating at its full financial potential upon acquisition, requiring immediate management effort to bring leases up to market standards.
The property consists entirely of 2-bedroom, 1-bathroom units, which lacks the floor plan diversity that can sometimes help mitigate vacancy risks across different tenant demographics.
Rare fourplex investment opportunity in East Manteca. Built in 1994, this 3,120 sq ft four-unit property offers four 2 bedroom, 1 bath units, two upstairs and two downstairs, each with its own private garage. Three units are currently occupied on month-to-month terms at rents below current market, and one unit is vacant, giving a buyer immediate flexibility to live in one unit while renting the other three, or to step in and reposition the whole property at market rents from day one. Recent updates in the vacant unit include fresh interior paint, new carpet, and new lighting. Location is East Manteca, walking distance to multiple shopping centers, with easy access to Highway 99, Highway 120, and Kaiser Permanente Manteca. This is a true value-add play for the seasoned investor looking to bring rents to market, the new investor wanting an entry-level multifamily asset, or an owner-occupant who wants to live in one unit, fix it up further, and let tenant income help cover the mortgage. This property is full of opportunity and flexibility!
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 8.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 3,120 | - |
| Lot Size | 8,250 | - |
| Price | $900.0K | $544.0K |
| Price per sq ft | $288 | $328 |
| Built year | 1994 | 0 |
| HOA | $0 | $0 |
| Days on market | 22 | 18 |
Jun 30, 2026
$900,000
Initial Listing
Aug 23, 2021
$550,000
Public Record
Aug 31, 2005
$715,000
Public Record
Mar 28, 2002
$360,000
Public Record