101 I St, 107 I St, and 510 S Washington St present a unique opportunity to acquire a three-parcel multifamily portfolio totaling eight units in the established downtown Modesto neighborhood. The property consists of four separate residential buildings situated on individual parcels, offering investors the flexibility of separate financing, resale, or long-term hold strategies. The portfolio features a mix of six one-bedroom/one-bath units and two two-bedroom/one-bath units, appealing to a broad tenant base seeking affordable housing in close proximity to employment, retail, and transit options in downtown Modesto. Each building sits on its own legal parcel, with one parcel featuring a detached ADU, allowing for future disposition flexibility and potential value-add opportunities through operational improvements and market rent growth.
Downtown, located between Highway 99 and the Tuolumne River, is a historic and civic Modesto neighborhood with a classic street grid and a marquee theater skyline. The neighborhood’s character concentrates around 10th Street and J Street, where sidewalk patios, galleries, and late-night bites cluster under neon and streetlights. The State Theatre anchors the arts calendar, while Gallo Center for the Arts and the McHenry Museum add cultural weight. Early-20th-century storefronts and brick facades frame pocket parks and public plazas. Government buildings and small offices keep weekdays busy, and murals and marquees keep evenings animated.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Ceiling fan
Bedrooms
Eight-unit building with a mix of one- and two-bedroom units (individual unit counts: three 1-bedroom units, two 2-bedroom units, plus remaining units are 1-bedroom)
Bathrooms
Multiple full bathrooms corresponding to each unit (each listed unit type includes one full bath)
Laundry & utility
Separate electric and separate gas meters
Heating & cooling
Central forced-air gas heating
Exterior features
Shingle roof
Home design
Individual ownership
Four buildings on the property
Zoned R3
Parking
On-street parking available
Off-site parking available
Construction
Concrete slab foundation
Utilities
Public water
Public sewer
Public utilities
Financial info
Total of 8 units
Annual rental income reported at $131,616
Gross scheduled income $131,616
Annual gross income $127,668
Total expenses $31,492
Annual property tax listed (not included per instructions)
Gross rent multiplier 10.07
Vacancy factor 3%
Other
Separate trash expense and utility expense amounts reported
Electricity and solar
View estimated energy costs and solar savings for this home
101 I St, 107 I St, and 510 S Washington St present a unique opportunity to acquire a three-parcel multifamily portfolio totaling eight units in the established downtown Modesto neighborhood. The property consists of four separate residential buildings situated on individual parcels, offering investors the flexibility of separate financing, resale, or long-term hold strategies. The portfolio features a mix of six one-bedroom/one-bath units and two two-bedroom/one-bath units, appealing to a broad tenant base seeking affordable housing in close proximity to employment, retail, and transit options in downtown Modesto. Each building sits on its own legal parcel, with one parcel featuring a detached ADU, allowing for future disposition flexibility and potential value-add opportunities through operational improvements and market rent growth.
Public Records
Aug 1, 1989
Sold
$89,000
$21/sq ft
Year
Property tax
Land + Additions
Assessment*
2025
$1,699 (+4.7%)
$47,836 + $100,384
$148,220
2024
$1,623 (+1.5%)
$46,899 + $98,416
$145,315
2023
$1,599 (+2.5%)
$45,980 + $96,487
$142,467
2022
$1,561 (+6.3%)
$45,079 + $94,596
$139,675
2021
$1,468 (−1.9%)
$44,196 + $92,742
$136,938
2020
$1,497 (+2.4%)
$43,330 + $90,924
$134,254
2019
$1,462 (+5.0%)
$42,886 + $89,992
$132,878
2018
$1,392 (+2.4%)
$42,046 + $88,228
$130,274
2017
$1,359 (+2.0%)
$40,414 + $84,803
$125,217
2016
$1,332 (+1.4%)
$40,414 + $84,803
$125,217
2015
$1,314 (+1.5%)
$39,622 + $83,141
$122,763
2014
$1,294 (+3.9%)
$38,263 + $80,289
$118,552
2013
$1,246 (+8.1%)
$38,263 + $80,289
$118,552
2012
$1,152 (−3.5%)
$45,000 + $69,000
$114,000
2011
$1,195 (−2.2%)
$56,000 + $49,000
$105,000
2010
$1,222 (+52.0%)
$37,000 + $73,000
$110,000
2009
$803 (−31.1%)
$36,340 + $76,250
$112,590
2008
$1,167
$25,000 + $50,000
$75,000
2007
$1,167
$35,712 + $74,933
$110,645
Public record
Public record
Zoning
Permits
Beds
1
Baths
1
Stories
1
Lot width
—
Lot depth
—
Lot size
3,375 Sq. Ft.
Year renovated
—
Finished Sq. Ft.
1,028
Unfinished Sq. Ft.
—
Total Sq. Ft.
1,028
Year built
1932
Style
Other
County
Stanislaus County
APN
104027004000
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Jul 13, 2026.
TND
Traditional Neighborhood Downtown Zone
This zone is intended to allow new residential development that is compatible with the traditional single family residential character of the neighborhood. This objective is accomplished by addressing certain provisions such as frontage types, setbacks, building envelope, building height, building type, and yard areas to be compatible with the historical and existing characteristics of this residential neighborhood.
Permitted uses
Include but are not limited to:
General retail
Housing
Lodging & hospitality
Office
Feb 10, 2025 • Final
Adu
Construct a new detached accessory dwelling unit with two bedrooms and one bathroom.
ADU
Dec 2, 2024 • Final
Res reroof
Roofing
Permit history is from public records and may be incomplete or inaccurate. Redfin and its agents make no representations about the property condition or permit status. Buyers should independently verify all information.
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
7/10 Heat Factor
7 days above 102° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
33 unhealthy days expected this year, 38 days in 30 years
Provided by First Street
Historical weather
Modesto, CA • 95351
Average low and high temperatures (°F)
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65
90
63
80
57
64
48
55
44
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 101-107 I St
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