Triplex with Studio
For Sale
$389,950
1107 7th Street, Modesto, CA 95354
Three compact residential units offer an established rental configuration with flexible occupancy arrangements.
Property Size1,500 SF
Price / SF$259.97
Days on Market139
Property Features for 1107 7th Street
General Information
Standard status
Active
Size
1,500 SF
Property subtype
Multi Family
Units
Unit Mix
3 x studio
Multifamily Units
3
Building Details
Year Built
1934
Listing Agency:
RE/MAX Executive
(209) 614-0100
Listed By:
Brian D. Brazeal · License #01869354
(209) 614-0100
Source:
Exitrealty
Added: Apr 15
Changed: Aug 30
Last Checked: Aug 30 at 1:24PM
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 Executive
Investment Insights
Based on property information with market context.
This triplex contains three studio units within a 1,500-square-foot property built in 1934. The existing configuration includes long-term tenants, with two units currently operating on month-to-month arrangements. The property does not include laundry facilities in the units or elsewhere on-site.
Located at 1107 7th Street in Modesto, California, the asset may accommodate an owner-occupant arrangement alongside rental use, subject to applicable requirements. Its three-unit layout and existing tenancy provide a straightforward multifamily format for continued residential operation.
Located at 1107 7th Street in Modesto, California, the asset may accommodate an owner-occupant arrangement alongside rental use, subject to applicable requirements. Its three-unit layout and existing tenancy provide a straightforward multifamily format for continued residential operation.
Key Highlights
- Three studio units in a triplex configuration
- 1,500 square feet of property size
- Built in 1934
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
$22,331
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
5.73%
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%
$446,620
$446.6K
Cap Rate 7%
$319,014
$319.0K
Cap Rate 9%
$248,122
$248.1K
Market Conditions
NOI Build-Up for 1,500 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
$33.3K $22.20/SF
− Vacancy
−$1.4K −$0.93/SF
EGI
$31.9K $21.27/SF
− OpEx
−$9.6K −$6.38/SF
NOI
$22.3K $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%
$446,620
Cap Rate 7%
$319,014
Cap Rate 9%
$248,122
Alternative Uses
Best Use
Multifamily LT 5
$319.0K
$279.1K – $372.2K
NOI $22,331 @ 7.0% cap · market cap 5.73%
Second Best
Apartment 5plus
$285.1K
$249.5K – $332.6K
NOI $19,958 @ 7.0% cap · market cap 5.12%
Theoretical Best
Office A
$504.0K
$441.0K – $588.0K
NOI $35,280 @ 7.0% cap · market cap 9.05%
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
2,936
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 - Three compact residential units offer an established rental configuration with flexible occupancy arrangements.
Where is this triplex located?
The property is located at 1107 7th Street Modesto, CA.
What is the asking price?
The asking price for this property is $389,950.
What are key features of this property?
This property features: Three studio units in a triplex configuration; 1,500 square feet of property size; Built in 1934
