Updated Triplex With Shared
For Sale
$850,000
Pending
1432 Page Ct, Modesto, CA 95354
Three refreshed residences share on-site laundry, outdoor space, storage, and six parking spaces.
Property Size3,200 SF
Days on Market149
Property Features for 1432 Page Ct
General Information
Standard status
Pending
Size
3,200 SF
Property subtype
Residential Income
Listing Agency:
Barrios Realty Consultants
7818117
Listed By:
Mark E. Hammond · License #01441003
7818117
Source:
Exprealty
Added: Apr 4
Changed: Aug 30
Last Checked: Aug 30 at 1:05AM
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 Barrios Realty Consultants
Investment Insights
Based on property information with market context.
This triplex at 1432 Page Ct in Modesto, California contains three residential units with an updated interior presentation. Unit A includes four bedrooms and one bathroom, while Units B and C each offer three bedrooms and one bathroom.
The property includes a separate laundry room equipped with coin-operated washers and dryers, along with three storage containers. Residents share a backyard with a covered patio, and the site provides six parking spaces. The three-unit configuration and varied bedroom mix create a straightforward residential income property layout.
The property includes a separate laundry room equipped with coin-operated washers and dryers, along with three storage containers. Residents share a backyard with a covered patio, and the site provides six parking spaces. The three-unit configuration and varied bedroom mix create a straightforward residential income property layout.
Key Highlights
- Three‑unit residential property with updated units
- Unit A has 4 bedrooms and 1 bathroom
- Units B and C each have 3 bedrooms and 1 bathroom
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
$47,639
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
5.60%
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%
$952,780
$952.8K
Cap Rate 7%
$680,557
$680.6K
Cap Rate 9%
$529,322
$529.3K
Market Conditions
NOI Build-Up for 3,200 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
$71.0K $22.20/SF
− Vacancy
−$3.0K −$0.93/SF
EGI
$68.1K $21.27/SF
− OpEx
−$20.4K −$6.38/SF
NOI
$47.6K $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%
$952,780
Cap Rate 7%
$680,557
Cap Rate 9%
$529,322
Alternative Uses
Best Use
Multifamily LT 5
$680.6K
$595.5K – $794.0K
NOI $47,639 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$608.3K
$532.2K – $709.6K
NOI $42,578 @ 7.0% cap · market cap 5.01%
Theoretical Best
Office A
$1.08M
$940.8K – $1.25M
NOI $75,264 @ 7.0% cap · market cap 8.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
446
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 refreshed residences share on-site laundry, outdoor space, storage, and six parking spaces.
Where is this triplex located?
The property is located at 1432 Page Ct Modesto, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Three‑unit residential property with updated units; Unit A has 4 bedrooms and 1 bathroom; Units B and C each have 3 bedrooms and 1 bathroom
