8-Unit Apartment
For Sale
$1,200,000
203 Jones St, Modesto, CA 95354
Residential Income, Colonial, Modesto, CA
Property Size5,348 SF
Lot Size0.27 Acres
Price / SF$224.38
Days on Market174
Property Features for 203 Jones St
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
8
Bathrooms
8
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bathroom 5, Bathroom 7, Bedroom 8, Bedroom 5, Bathroom 1, Bedroom 2, Bedroom 6, Bedroom 1, Bathroom 6, Bathroom 3, Bathroom 4, Bathroom 8, Bedroom 3, Bedroom 7
Parking
8
Appliances
Convection Oven, Gas
Lot features
Back Yard
Directions
Go left of Mchenry if you are heading towards downtown. It is a block down on the corner
Subdivision
Out of Area
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, Wall/Window Unit(s), Ceiling Fan(s)
Water source
Public
Building Details
Year built
1920
Floors in Building
2
Number of units
8
Flooring type
Laminate
Roof type
Composition, Tar/Gravel
Architectural style
Colonial
Buildings
1
Listing Agency:
Beverly & Company Luxury Properties
(818) 382-4160
Listed By:
Sheree Thiel · License #02003064
(818) 679-3756
Added: May 15
Changed: Oct 29
Last Checked: Nov 4 at 11:06AM
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.
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Investment Insights
Based on property information with market context.
This 1920 Colonial apartment property contains eight residences, each with one bedroom and one bathroom. The building totals 5,348 square feet on a 0.265-acre parcel. Heating includes a heat pump and natural gas; cooling features include wall or window units, ceiling fans, and a heat pump.
The city has approved construction of another apartment building with up to four units. Existing property details also include laminate flooring and a tar-and-gravel and composition roof.
The city has approved construction of another apartment building with up to four units. Existing property details also include laminate flooring and a tar-and-gravel and composition roof.
Key Highlights
- Eight apartments; each has one bedroom and one bathroom
- Fully occupied
- 5,348 square feet on a 0.265‑acre parcel
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$71,158
Cap Rate
5.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,423,160
$1.4M
Cap Rate 7%
$1,016,543
$1.0M
Cap Rate 9%
$790,644
$790.6K
Market Conditions
NOI Build-Up for 5,348 SF
Gross rent
$134.8K $25.20/SF
− Vacancy
−$5.4K −$1.01/SF
EGI
$129.4K $24.19/SF
− OpEx
−$58.2K −$10.89/SF
NOI
$71.2K $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 Rate 5%
$1,423,160
Cap Rate 7%
$1,016,543
Cap Rate 9%
$790,644
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
8
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,820
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - All residences have one bedroom and one bathroom, and the property is fully occupied.
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: Eight apartments; each has one bedroom and one bathroom; Fully occupied; 5,348 square feet on a 0.265‑acre parcel
