380 N Airport Way, Manteca, CA 95337, Manteca, 95337 - 3 bed, 2 bath

380 N Airport Way, Manteca, CA 95337 home-pic-0
ACTIVE$3,500,000$1,496/sqft
380 N Airport Way, Manteca, CA 95337
3Beds
2Baths
1,496Sqft
58,412Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 58412, living area = 1496.
Top Cons:
MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =58412, other record lot size in square feet = 76420.

Compared to the nearby listings

Price:$3.50M vs avg $595.0K (+$2,905,000)99%
Size:1,496 sqft vs avg 2,052.5 sqft18%
Price/sqft:$2.3K vs avg $29399%

More Insights

Built in 1960 (66 years old).
Condition: This listing is for a 'shovel-ready' multi-family development opportunity, not for the existing single-family residence. The property analysis explicitly states 'Existing Structure Demolition' as a weakness, indicating the 1960-built home is intended to be removed. The value is in the land and its redevelopment potential, aligning with the 'tear-down' criteria where the structure is to be demolished.
Year Built
1960
Close
-
List price
$3.5M
Original List price
-
Price/Sqft
$2,340
HOA
$0
Days on market
-
Sold On
-
MLS number
41093524
Home ConditionTear down
Features
View-

About this home

For Sale: Shovel-Ready 24-Unit Multi-Family Development Opportunity – Prime Manteca Location! Unlock the potential of this shovel-ready, fully entitled 24-unit multi-family development. Situated on approximately 1.34 acres, this three-story project offers a rare opportunity for builders and investors in one of Manteca’s most rapidly growing areas. The approved site plan includes: • 24 residential units • 1 Office unit • 33 standard parking spaces • 8 compact spaces • 1 van-accessible space • 1 accessible space • 2 EV-capable spaces • 2 EV-charging station-ready spaces Surrounded by newly developed homes and proposed rental communities, this site benefits from strong residential demand and expanding city infrastructure. Located just minutes from Great Wolf Lodge Water Park, this development offers an added attraction for potential tenants and short-term rental possibilities. The property also offers excellent proximity to major highways, shopping centers, schools, and employment corridors—making it highly attractive for residents and investors alike. Bring your vision and start building—this is a turn-key opportunity you don’t want to miss!

H
Harmit S Toor
Listing Agent

Price History

Date
Event
Price
01/25/22
Sold
$775,000
03/10/08
Sold
$250,000
Condition Rating
Tear down

This listing is for a 'shovel-ready' multi-family development opportunity, not for the existing single-family residence. The property analysis explicitly states 'Existing Structure Demolition' as a weakness, indicating the 1960-built home is intended to be removed. The value is in the land and its redevelopment potential, aligning with the 'tear-down' criteria where the structure is to be demolished.
Pros & Cons

Pros

High Available Lot Utilization: The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 58412, living area = 1496.
Shovel-Ready & Fully Entitled: The project is shovel-ready and fully entitled for 24 units, significantly reducing development timelines and mitigating permitting risks for investors.
Prime Location in High-Growth Area: Located in rapidly growing Manteca, offering excellent proximity to major highways, shopping centers, schools, employment corridors, and the Great Wolf Lodge Water Park.
Substantial Development Scale: Approved for 24 residential units and 1 office unit on 1.34 acres, providing a significant multi-family development opportunity with strong return potential.
Strong Market Demand & Rental Potential: Benefits from strong residential demand, surrounded by newly developed homes, and the proximity to Great Wolf Lodge offers potential for short-term rentals.
Modern Parking Infrastructure: The approved site plan includes 43 parking spaces, with 2 EV-capable and 2 EV-charging station-ready spaces, catering to modern tenant expectations.

Cons

MLS Listing Discrepancy: Lot size discrepancy between mls listing and other public or private record. mls listing lot size in square feet =58412, other record lot size in square feet = 76420.
High Capital Requirement: The $3.5 million list price for the land, combined with substantial construction costs for a 24-unit complex, requires a significant initial investment.
Competitive Market Entry: While demand is strong, the presence of 'newly developed homes and proposed rental communities' suggests a competitive landscape for attracting tenants upon project completion.
Existing Structure Demolition: The property's 1960 year built implies an existing structure that would likely require demolition, adding to initial project costs and potentially the overall timeline.
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