Multifamily Property with Existing
New
For Sale
$599,999
1121 El Vecino Court, Modesto, CA 95350
Built in 1950 and available individually or within a collection of duplexes and triplexes.
Property Size1,948 SF
Price / SF$308.01
Days on Market5
Property Features for 1121 El Vecino Court
General Information
Standard status
Active
Size
1,948 SF
Property subtype
Multi-Family
Building Details
Year Built
1950
Listing Agency:
Nick Sadek Sotheby's International Realty
(916) 784-7444
Listed By:
Inspired Real Estate Group Inc
(916) 622-5341
Source:
Inspiredrealestategroup
Added: Sep 20
Changed: Sep 21
Last Checked: Sep 21 at 6:17AM
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 Nick Sadek Sotheby's International Realty
Investment Insights
Based on property information with market context.
This multifamily property at 1121 El Vecino Court is part of a collection of duplexes and triplexes in Modesto, California. The property was built in 1950 and has tenants in place, supporting an existing rental operation rather than a vacant delivery. Individual properties are available, or a buyer may acquire the full collection as a single transaction.
The offering is located in established Modesto neighborhoods throughout the city. Additional property addresses, rent rolls, and financial information are available through the offering process.
The offering is located in established Modesto neighborhoods throughout the city. Additional property addresses, rent rolls, and financial information are available through the offering process.
Key Highlights
- Part of a collection of duplexes and triplexes
- Tenants are already in place
- Built in 1950
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
$29,000
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
4.83%
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%
$580,000
$580.0K
Cap Rate 7%
$414,286
$414.3K
Cap Rate 9%
$322,222
$322.2K
Market Conditions
NOI Build-Up for 1,948 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
$43.2K $22.20/SF
− Vacancy
−$1.8K −$0.93/SF
EGI
$41.4K $21.27/SF
− OpEx
−$12.4K −$6.38/SF
NOI
$29.0K $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%
$580,000
Cap Rate 7%
$414,286
Cap Rate 9%
$322,222
Alternative Uses
Best Use
Multifamily LT 5
$414.3K
$362.5K – $483.3K
NOI $29,000 @ 7.0% cap · market cap 4.83%
Second Best
Apartment 5plus
$370.3K
$324.0K – $432.0K
NOI $25,919 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$654.5K
$572.7K – $763.6K
NOI $45,817 @ 7.0% cap · market cap 7.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,099
Businesses Nearby
Explore this area
Business Placement
Demographics for 95350, CA
55,344
Population
20,327
Households
2.7
Avg Household Size
37
Median Age
20%
College-Educated
85%
High-School Grad
8.8 sq mi
ZIP Area
6,289
Density / Sq Mi
$73,611
Median Household Income
$43,428
Median Earnings
$1,483
Median Rent
$397,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Built in 1950 and available individually or within a collection of duplexes and triplexes.
Where is this multifamily property located?
The property is located at 1121 El Vecino Court Modesto, CA.
What is the asking price?
The asking price for this property is $599,999.
What are key features of this property?
This property features: Part of a collection of duplexes and triplexes; Tenants are already in place; Built in 1950
