Victorian Quadplex with Four
New
For Sale
$899,000
312 W Main Street, Turlock, CA 95380
Four occupied apartments combine historic character with updated flooring, appliances, and windows.
Property Size3,770 SF
Lot Size0.33 Acres
Price / SF$238.46
Days on Market3
Property Features for 312 W Main Street
General Information
Standard status
Active
Size
3,770 SF
Lot size
0.33 Acres
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Building Details
Year Built
1906
Construction
Victorian
Tenancy
Multi
Listing Agency:
Nexthome Progressive
(209) 681-7491
Listed By:
Curtis S. Green · License #01334709
(209) 505-8679
Source:
Exitrealty
Added: Sep 10
Changed: Sep 11
Last Checked: Sep 12 at 4:14AM
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 Nexthome Progressive
Investment Insights
Based on property information with market context.
Built in 1906, this 3,770-square-foot Victorian property contains four apartments on a 1/3-acre parcel. Three units occupy the original residence, while a fourth apartment is located in a separate rear structure. Flooring, appliances, and windows have been updated, and all four apartments are occupied.
The property includes alley access serving the rear units and room for parking. An existing structure at the southwest corner could be converted to living space. The southeast corner of the lot also has space that may be eligible for additional housing units, subject to applicable approvals.
The property includes alley access serving the rear units and room for parking. An existing structure at the southwest corner could be converted to living space. The southeast corner of the lot also has space that may be eligible for additional housing units, subject to applicable approvals.
Key Highlights
- Four occupied apartments across the original residence and a rear structure
- 3,770 square feet on a 1/3‑acre parcel
- 1906 Victorian property with updated flooring, appliances, and windows
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
$51,009
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
5.67%
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%
$1,020,180
$1.0M
Cap Rate 7%
$728,700
$728.7K
Cap Rate 9%
$566,767
$566.8K
Market Conditions
NOI Build-Up for 3,770 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
$74.6K $19.80/SF
− Vacancy
−$1.8K −$0.47/SF
EGI
$72.9K $19.33/SF
− OpEx
−$21.9K −$5.80/SF
NOI
$51.0K $13.53/SF
Area
Stanislaus County, CA
Vacancy
2.38%
Lease Rate
$19.80 /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%
$1,020,180
Cap Rate 7%
$728,700
Cap Rate 9%
$566,767
Alternative Uses
Best Use
Multifamily LT 5
$728.7K
$637.6K – $850.2K
NOI $51,009 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$672.3K
$588.3K – $784.4K
NOI $47,064 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$1.75M
$1.53M – $2.04M
NOI $122,658 @ 7.0% cap · market cap 13.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 95380, CA
42,912
Population
15,682
Households
2.7
Avg Household Size
34
Median Age
18%
College-Educated
73%
High-School Grad
77.2 sq mi
ZIP Area
556
Density / Sq Mi
$68,308
Median Household Income
$39,002
Median Earnings
$1,348
Median Rent
$410,300
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four occupied apartments combine historic character with updated flooring, appliances, and windows.
Where is this quadplex located?
The property is located at 312 W Main Street Turlock, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Four occupied apartments across the original residence and a rear structure; 3,770 square feet on a 1/3‑acre parcel; 1906 Victorian property with updated flooring, appliances, and windows
