Eight-Unit Apartment
203 Jones St Modesto, CA 95354
For Sale
$1,200,000
MULTI_FAMILY - Modesto, CA
Property Size5,348 SF
Lot Size0.27 Acres
Price / SF$224.38
Days on Market77
Property Features for 203 Jones St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
2
Bathrooms
2
Rooms
Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 2, Bathroom 1, Bathroom 4
Parking
8
Appliances
Convection Oven, Gas
Standard status
Active
APN
111-007-036-000
Size
5,348 SF
Lot size
0.27 Acres
Utilities
Heating system
Natural Gas, Heat Pump (Heating)
Cooling system
Heat Pump, Ceiling Fan(s), Wall/Window Unit(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
4
Flooring type
Laminate
Roof type
Composition, Tar/Gravel
Architectural style
Colonial
Listing Agency:
Beverly & Company Luxury Properties
(818) 382-4160
Listed By:
Sheree Thiel · License #02003064
(818) 679-3756
Added: May 15
Changed: Jul 29
Last Checked: Jul 30 at 10:06AM
MLS# 26863767
Copyright © 2026 The MLS/CLAW. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This is an eight-unit apartment building featuring all one-bedroom, one-bath units. The property is fully occupied. The city has approved the potential to build another apartment building on-site up to four units, subject to the approved plan.
The property is located at 203 Jones St in Modesto, CA 95354, in Stanislaus County. Seller financing is available through an owner carry structure at 6.25% interest for 30 years, with monthly payments of $4,628.96 and a $425,000 down payment, subject to terms of the offer.
The property is located at 203 Jones St in Modesto, CA 95354, in Stanislaus County. Seller financing is available through an owner carry structure at 6.25% interest for 30 years, with monthly payments of $4,628.96 and a $425,000 down payment, subject to terms of the offer.
Key Highlights
- 8‑unit apartment building, fully occupied
- All units are 1‑bedroom, 1‑bath
- City approval to build another apartment building up to 4 units
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $134.8k | $25.20 |
| − Vacancy | −$5.4k | −$1.01 |
| EGI | $129.4k | $24.19 |
| − OpEx | −$58.2k | −$10.89 |
| NOI | $71.2k | $13.31 |
5,348 SF · lease $25.20/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.02M
$889.5K – $1.19M
NOI $71,158 @ 7.0% cap · market cap 5.93%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,785 @ 7.0% cap · market cap 10.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied eight-unit building with one-bedroom, one-bath units and city approval to add up to four more units.
Where is this apartment building located?
The property is located at 203 Jones St Modesto, CA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 8‑unit apartment building, fully occupied; All units are 1‑bedroom, 1‑bath; City approval to build another apartment building up to 4 units
