Multifamily Rental
1502 W Orangeburg Avenue, Modesto, CA 95350
For Sale
$519,999
Existing tenants and near-capacity occupancy support an established rental operation in Modesto.
Property Size1,562 SF
Price / SF$332.91
Days on Market51
Property Features for 1502 W Orangeburg Avenue
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Broker
(916) 835-7253
Listed By:
Inspired Real Estate Group Inc
(916) 622-5341
Source:
Inspiredrealestategroup
Added: Sep 20
Changed: Nov 8
Last Checked: Nov 8 at 6:03AM
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 Broker
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Investment Insights
Based on property information with market context.
This multifamily rental property contains 1,562 square feet and was built in 1954. Tenants are already in place, and occupancy across the offering is reported near capacity, providing an operating rental asset rather than a vacant property requiring initial lease-up.
The property is located at 1502 W Orangeburg Avenue in Modesto, California. Individual properties are available, and the broader offering also includes duplexes and triplexes for buyers evaluating a larger acquisition. Additional property addresses, rent rolls, and financials are available through the listing process.
The property is located at 1502 W Orangeburg Avenue in Modesto, California. Individual properties are available, and the broader offering also includes duplexes and triplexes for buyers evaluating a larger acquisition. Additional property addresses, rent rolls, and financials are available through the listing process.
Key Highlights
- 1,562‑square‑foot multifamily rental property
- Built in 1954
- Tenants already in place
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$23,254
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$465,080
$465.1K
Cap Rate 7%
$332,200
$332.2K
Cap Rate 9%
$258,378
$258.4K
Market Conditions
NOI Build-Up for 1,562 SF
Gross rent
$34.7K $22.20/SF
− Vacancy
−$1.5K −$0.93/SF
EGI
$33.2K $21.27/SF
− OpEx
−$10.0K −$6.38/SF
NOI
$23.3K $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 Rate 5%
$465,080
Cap Rate 7%
$332,200
Cap Rate 9%
$258,378
Alternative Uses
Best Use
Multifamily LT 5
$332.2K
$290.7K – $387.6K
NOI $23,254 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$296.9K
$259.8K – $346.4K
NOI $20,783 @ 7.0% cap · market cap 4.00%
Theoretical Best
Office A
$524.8K
$459.2K – $612.3K
NOI $36,738 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
728
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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
$397,100
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Multifamily properties in Modesto, CA
Properties on Market for Multifamily properties in Modesto
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Existing tenants and near-capacity occupancy support an established rental operation in Modesto.
Where is this multifamily property located?
The property is located at 1502 W Orangeburg Avenue Modesto, CA.
What is the asking price?
The asking price for this property is $519,999.
What are key features of this property?
This property features: 1,562‑square‑foot multifamily rental property; Built in 1954; Tenants already in place
