512 12th Street, Modesto, CA 95354, Modesto, 95354 - 3 bed, 3 bath
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Modesto, CA 95354
This Multi-Unit Income Asset is listed at $498,500, relative to a $460,239 Fair Market Value. The valuation is anchored by a diversified $45,604 annual gross income generated from three residential units and a 5-unit storage building. Boasting a Condition Rating of 4, the property features essential capital improvements including a newer roof, updated plumbing, and mini-split HVAC systems. While a sqft discrepancy exists in public records, the Downtown Modesto location ensures high rental demand. This is a strategic acquisition for Buy-and-Hold Investors or Portfolio Diversifiers seeking immediate cash flow.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 512 12th Street Subject | $498,500* List Price | 3 | 3 | 1,950 | $236 | - |
A 311 High Street Sold | $415,000 | 5 | 3 | 1,780 | $233 | 0.9 mi |
B 201 Poplar Avenue Sold | $439,000 | 3 | 2 | 1,438 | $305 | 0.8 mi |
C 137 Downey Avenue Active | $450,000 List Price | 3 | 2 | 2,035 | $221 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
This 1910-built triplex is in functional condition but shows significant signs of age and inconsistent updates. While the property benefits from essential capital improvements such as a newer roof, updated plumbing, and the installation of mini-split HVAC systems in two units, the interior remains largely dated. The kitchens feature a mix of original built-in cabinetry and basic newer base cabinets with older appliances and linoleum flooring. Although some areas have newer laminate flooring and fresh paint, the overall aesthetic, window frames, and fixtures are aged and do not meet modern 'good' or 'excellent' standards.
This property functions as a high-yield investment with multiple revenue sources, including three residential units, a fully rented 5-unit storage building, and a common laundry facility, generating over $45,000 in annual gross income.
The asset features significant recent upgrades such as a newer roof, updated plumbing, fresh paint, and modern mini-split HVAC systems in two units, which helps minimize immediate maintenance costs for a new owner.
Located in the heart of downtown Modesto, the property benefits from high tenant demand due to its proximity to local amenities, employment hubs, and urban services.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1950, other record living area = 1539.
Built in 1910, the property may require specialized upkeep and could present unforeseen challenges associated with century-old infrastructure despite recent cosmetic and plumbing updates.
The modernization is not uniform across all units, with only partial dual-pane windows and cooling systems missing in one of the units, which may affect total rent potential and appraisal value.
Investors come check out this triplex with unique studio's. Property address iş 512, 514, & 514 1/2. They come with a 5 unit Storage building that sits on the property and opens to the alley in the back, all the storage units are currently rented out. This triplex has its own private yard, and common Laundry room with indoor access to 2 of the studio units that gets separate rent. Current gross income over all with Laundry, studios, storage building is approx. $45,604. gross a year. Newer roof flooring, 2 units have mini split AC/HEAT units. Some dual pane windows, new paint, and updated plumbing. All in down town Modesto.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 3.0 | 2.0 | 87% |
| Square foot | 1,950 | 1,310 | 87% |
| Lot Size | 7,000 | 6,763 | 55% |
| Price | $498.5K | $400.0K | 91% |
| Price per sq ft | $256 | $304 | 23% |
| Built year | 1910 | 1949 | 2% |
| HOA | $0 | $0 | 50% |
| Days on market | 18 | 180 | 3% |
Apr 4, 2026
$498,500
Initial Listing
Apr 5, 2012
$133,000
Public Record
Sep 3, 1999
$85,000
Public Record