Studio and One-Bedroom Apartment
For Sale
$1,280,000
1133 13th St, Modesto, CA 95354
Multifamily property within walking distance of downtown restaurants and businesses.
Property Size4,984 SF
Price / SF$256.82
Days on Market50
Property Features for 1133 13th St
General Information
Standard status
Active
Size
4,984 SF
Property subtype
Residential Income
Listing Agency:
PMZ Real Estate
6028620
Listed By:
John E. Medeiros · License #00940418
6028620
Source:
Exprealty
Added: Jul 3
Changed: Aug 18
Last Checked: Aug 20 at 12:32PM
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 PMZ Real Estate
Investment Insights
Based on property information with market context.
This 4,984-square-foot apartment building includes a mix of studio and one-bedroom units. Residents are responsible for rent plus a monthly utility fee, with separate gas and electric meters serving the units.
The property is located at 1133 13th St in Modesto, within a short walk of downtown restaurants and businesses. Its unit mix and individually metered utilities provide a straightforward operating profile for a multifamily owner.
The property is located at 1133 13th St in Modesto, within a short walk of downtown restaurants and businesses. Its unit mix and individually metered utilities provide a straightforward operating profile for a multifamily owner.
Key Highlights
- 4,984‑square‑foot apartment building
- Unit mix includes studios and one‑bedroom apartments
- Separate gas and electric meters for the units
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
$66,315
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
5.18%
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%
$1,326,300
$1.3M
Cap Rate 7%
$947,357
$947.4K
Cap Rate 9%
$736,833
$736.8K
Market Conditions
NOI Build-Up for 4,984 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
$125.6K $25.20/SF
− Vacancy
−$5.0K −$1.01/SF
EGI
$120.6K $24.19/SF
− OpEx
−$54.3K −$10.89/SF
NOI
$66.3K $13.31/SF
Area
Modesto, CA
Vacancy
4.00%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
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%
$1,326,300
Cap Rate 7%
$947,357
Cap Rate 9%
$736,833
Alternative Uses
Best Use
Apartment 5plus
$947.4K
$828.9K – $1.11M
NOI $66,315 @ 7.0% cap · market cap 5.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.67M
$1.47M – $1.95M
NOI $117,224 @ 7.0% cap · market cap 9.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,260
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?
Apartment building - Multifamily property within walking distance of downtown restaurants and businesses.
Where is this apartment building located?
The property is located at 1133 13th St Modesto, CA.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: 4,984‑square‑foot apartment building; Unit mix includes studios and one‑bedroom apartments; Separate gas and electric meters for the units
