Multifamily Property with Expansion
203 Jones St Modesto CA 95354, Modesto, CA 95354
Fully occupied, well-maintained multifamily property with potential for additional units.
Type:Multifamily
Property size:
5,348 SFPrice / SF:
$219/SF- Added:
- May 14, 2025
- Days on Market:
- 385
- Last Refresh:
- Mar 17 at 1:18 pm
Property Features for 203 Jones St Modesto CA 95354
General Information
- Standard status
- Active
- Size
- 5,348 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1920
Listing agent Sheree Thiel License #02003064
Listing office Sheree Thiel
Listing date May 14, 2025
Source Crexi
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 Sheree Thiel
HighLights
- Owner financing available at 6.25% for 30 years with low down payment ($400) and manageable monthly payments ($4,628.00 on $751,800).
- Potential to build 4 additional units on the property.
- High annual rental income of $105,432 with tenants contributing to utilities.
- Below market rents offer opportunity for increased revenue (market rents $1,350).
- Well‑maintained building that is easy to manage.
- Updated floors.
Overview
This multifamily property features updated one-bedroom, one-bath units and is currently fully occupied. The building is reported to be well-maintained and easy to manage. There is potential to build four additional units on the property. The current annual rents total $105,432, with each tenant contributing $50 toward utilities. Rents are currently below market value, with market rents estimated at $1,350.
Local 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 6.06%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.80M
$1.57M – $2.10M
NOI $125,785 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Webmazing
Marketing & Advertising
Location Insight
- Map
- Local Demand
- City
- Modesto
- County
- Stanislaus
- State
- California
- Longitude
- -120.9911294
- Latitude
- 37.6466787
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Fully occupied, well-maintained multifamily property with potential for additional units.
Where is this apartment building located?
The property is located at 203 Jones St Modesto CA 95354 Modesto, CA.
What is the asking price?
The asking price for this property is $1,174,000.
What are key features of this property?
This property features: Owner financing available at 6.25% for 30 years with low down payment ($400) and manageable monthly payments ($4,628.00 on $751,800).; Potential to build 4 additional units on the property.; High annual rental income of $105,432 with tenants contributing to utilities.
