Triplex with New
For Sale
$568,000
220 Kingston Lane, Modesto, CA 95354
Tenant-occupied triplex with separately metered utilities and central air conditioning.
Property Size2,296 SF
Days on Market192
Property Features for 220 Kingston Lane
General Information
Standard status
Active
Size
2,296 SF
Property subtype
Triplex
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
Central Air
Zoned
Gas Water Heater
Individual Electric Meter, Individual Gas Meter
Building Details
Building Size
2,296 SF
Year Built
1971
Listing Agency:
RE/MAX Accord
(925) 838-4100
Listed By:
Timothy Vander Meulen · License #02150745
Source:
Kw
Added: Feb 20
Changed: Aug 31
Last Checked: Aug 31 at 1:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Accord
Investment Insights
Based on property information with market context.
This tenant-occupied triplex contains three residential units, each configured with two bedrooms and one bathroom and measuring approximately 765 square feet. The property was built in 1971 and received new HVAC in 2025. Interior systems include central air, zoned climate control, and a gas water heater, while each unit has its own electric and gas meter.
The property is located in Modesto at 220 Kingston Lane, with vehicle access provided from Haddon Ave. The triplex shares its driveway and parking area with the neighboring 2508 Haddon Ave triplex. Tenant privacy is requested during any property review.
The property is located in Modesto at 220 Kingston Lane, with vehicle access provided from Haddon Ave. The triplex shares its driveway and parking area with the neighboring 2508 Haddon Ave triplex. Tenant privacy is requested during any property review.
Key Highlights
- Three‑unit property in Modesto at 220 Kingston Lane
- Each unit offers 2 bedrooms, 1 bath, and approximately 765 square feet
- New HVAC installed in 2025
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$34,181
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$683,620
$683.6K
Cap Rate 7%
$488,300
$488.3K
Cap Rate 9%
$379,789
$379.8K
Market Conditions
NOI Build-Up for 2,296 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$51.0K $22.20/SF
− Vacancy
−$2.1K −$0.93/SF
EGI
$48.8K $21.27/SF
− OpEx
−$14.6K −$6.38/SF
NOI
$34.2K $14.89/SF
Area
Modesto, CA
Vacancy
4.20%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$683,620
Cap Rate 7%
$488,300
Cap Rate 9%
$379,789
Alternative Uses
Best Use
Multifamily LT 5
$488.3K
$427.3K – $569.7K
NOI $34,181 @ 7.0% cap · market cap 6.02%
Second Best
Apartment 5plus
$436.4K
$381.9K – $509.2K
NOI $30,550 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$771.5K
$675.0K – $900.0K
NOI $54,002 @ 7.0% cap · market cap 9.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
259
Businesses Nearby
Explore this area
Business Placement
Demographics for 95354, CA
26,765
Population
9,797
Households
2.7
Avg Household Size
36
Median Age
17%
College-Educated
80%
High-School Grad
7.7 sq mi
ZIP Area
3,476
Density / Sq Mi
$65,643
Median Household Income
$42,126
Median Earnings
$1,463
Median Rent
$360,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Tenant-occupied triplex with separately metered utilities and central air conditioning.
Where is this triplex located?
The property is located at 220 Kingston Lane Modesto, CA.
What is the asking price?
The asking price for this property is $568,000.
What are key features of this property?
This property features: Three‑unit property in Modesto at 220 Kingston Lane; Each unit offers 2 bedrooms, 1 bath, and approximately 765 square feet; New HVAC installed in 2025
