Three-Parcel Multifamily
101-107 I Street Modesto, CA 95351
101-107 I Street, Modesto, CA, 95351
$1,325,000
For Sale
$1,325,000
Three multifamily buildings total eight units across individual parcels, including a detached ADU on one site.
Property Size4,298 SF
Price / SF$308.28
Days on Market38
Property Features for 101-107 I Street
General Information
- Standard status
- Active
- Size
- 4,298 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 1920
Listing agency
COMPASS
(408) 427-8963
Listed by
THEODORE WONG · License #02016737
Source
Corcoran
Added: Jun 16 Updated: Jul 22 at 2:52PM Checked: Jul 22 at 2:52PM
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.
This three-parcel multifamily portfolio includes four separate residential buildings on individual legal parcels, offering a total of eight units. The unit mix is six one-bedroom, one-bath apartments and two two-bedroom, one-bath apartments. One of the parcels also includes a detached ADU, which can support flexible disposition options.
The properties are located in an established downtown Modesto neighborhood at 101 I St, 107 I St, and 510 S Washington St, with the buildings positioned to serve tenants seeking convenient access to employment, retail, and transit options in the downtown area.
Each building is situated on its own parcel, giving buyers the option to pursue separate financing, resale, or a long-term hold strategy depending on their underwriting and management plan.
The properties are located in an established downtown Modesto neighborhood at 101 I St, 107 I St, and 510 S Washington St, with the buildings positioned to serve tenants seeking convenient access to employment, retail, and transit options in the downtown area.
Each building is situated on its own parcel, giving buyers the option to pursue separate financing, resale, or a long-term hold strategy depending on their underwriting and management plan.
Key Highlights
- Three‑parcel multifamily portfolio with 8 total units across four separate residential buildings
- Unit mix: 6 one‑bedroom/one‑bath units and 2 two‑bedroom/one‑bath units
- Each building is on its own legal parcel, supporting separate financing and resale or long‑term hold strategies
Local Financial Insights For Apartment 5plus
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 | $108.3k | $25.20 |
| − Vacancy | −$4.3k | −$1.01 |
| EGI | $104.0k | $24.19 |
| − OpEx | −$46.8k | −$10.89 |
| NOI | $57.2k | $13.31 |
4,298 SF · lease $25.20/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$817.0K
$714.8K – $953.1K
NOI $57,187 @ 7.0% cap · market cap 4.32%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $101,089 @ 7.0% cap · market cap 7.63%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
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FAQs
What type of property is this?
Apartment building - Three multifamily buildings total eight units across individual parcels, including a detached ADU on one site.
Where is this apartment building located?
The property is located at 101-107 I Street Modesto, CA.
What is the asking price?
The asking price for this property is $1,325,000.
What are key features of this property?
This property features: Three‑parcel multifamily portfolio with 8 total units across four separate residential buildings; Unit mix: 6 one‑bedroom/one‑bath units and 2 two‑bedroom/one‑bath units; Each building is on its own legal parcel, supporting separate financing and resale or long‑term hold strategies
