Fourplex with Private
228 Elm Ave Manteca, CA 95336
228 Elm Ave, Manteca, CA, 95336
$900,000
For Sale
$900,000
Built in 1994, this four-unit property offers two-bedroom, one-bath layouts with private garages for each unit.
Property Size3,120 SF
Price / SF$288.46
Days on Market16
Property Features for 228 Elm Ave
General Information
- Standard status
- Active
- Size
- 3,120 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1994
Listing agency
Compass
(925) 997-2982
Listed by
Jennifer Collins · License #01396269
(925) 997-2982
Source
Exitrealty
Added: Jul 7 Updated: Jul 22 at 9:27AM Checked: Jul 22 at 9:27AM
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 Compass
Investment Insights
Based on property information with market context.
Built in 1994, this fourplex includes four two-bedroom, one-bath units arranged as two upstairs and two downstairs. Each unit has its own private garage, supporting practical, tenant-friendly parking and storage. Three units are currently occupied on month-to-month terms, while one unit is vacant.
The vacant unit has recently received fresh interior paint, new carpet, and new lighting. Located in East Manteca, the property is described as walking distance to multiple shopping centers, with easy access to Highway 99 and Highway 120, as well as Kaiser Permanente Manteca.
With one unit available for immediate occupancy or use, the configuration supports flexible ownership options based on the tenant/vacancy mix and the current in-place occupancy.
The vacant unit has recently received fresh interior paint, new carpet, and new lighting. Located in East Manteca, the property is described as walking distance to multiple shopping centers, with easy access to Highway 99 and Highway 120, as well as Kaiser Permanente Manteca.
With one unit available for immediate occupancy or use, the configuration supports flexible ownership options based on the tenant/vacancy mix and the current in-place occupancy.
Key Highlights
- Fourplex built in 1994 with 4 units totaling 3,120 sq ft
- All units are 2‑bedroom, 1‑bath and include a private garage
- Two units upstairs and two units downstairs
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.8k | $19.80 |
| − Vacancy | −$2.8k | −$0.89 |
| EGI | $59.0k | $18.91 |
| − OpEx | −$17.7k | −$5.67 |
| NOI | $41.3k | $13.24 |
3,120 SF · lease $19.80/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$590.0K
$516.2K – $688.3K
NOI $41,297 @ 7.0% cap · market cap 4.59%
Second Best
Apartment 5plus
$547.9K
$479.4K – $639.2K
NOI $38,351 @ 7.0% cap · market cap 4.26%
Theoretical Best
Office A
$685.2K
$599.5K – $799.4K
NOI $47,961 @ 7.0% cap · market cap 5.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
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FAQs
What type of property is this?
Quadplex - Built in 1994, this four-unit property offers two-bedroom, one-bath layouts with private garages for each unit.
Where is this quadplex located?
The property is located at 228 Elm Ave Manteca, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: Fourplex built in 1994 with 4 units totaling 3,120 sq ft; All units are 2‑bedroom, 1‑bath and include a private garage; Two units upstairs and two units downstairs
