Three-Building 5-Plex
314 J Street Modesto, CA 95351
New
For Sale
$725,000
Fully leased three-building 5-plex, with most units reported at market rent.
Property Size2,408 SF
Price / SF$301.08
Days on Market4
Property Features for 314 J Street
General Information
- Standard status
- Active
- Size
- 2,408 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1965
Listing Agency:
Rand Commercial Properties
(209) 719-9626
Listed By:
Joy Deliddo · License #02172602
(209) 719-9626
Source:
Exitrealty
Added: Jul 22
Changed: Jul 24
Last Checked: Jul 25 at 4:54AM
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 Rand Commercial Properties
Investment Insights
Based on property information with market context.
This offering presents a three-building 5-plex property that has never been commercially available before. The buildings are described as clean and are fully leased, with most units reported at market rent.
Located at 314 J Street in Modesto, the property sits in Modesto’s West Side neighborhood. The provided remarks note that historically, properties in this area have maintained above-market occupancy rates.
From an operating standpoint, the key current factor is occupancy, as the property is fully leased. It is structured as a multi-building residential income asset, offering investors and buyers a consolidated way to acquire three separate buildings under one ownership, with current in-place tenancy across the units.
Located at 314 J Street in Modesto, the property sits in Modesto’s West Side neighborhood. The provided remarks note that historically, properties in this area have maintained above-market occupancy rates.
From an operating standpoint, the key current factor is occupancy, as the property is fully leased. It is structured as a multi-building residential income asset, offering investors and buyers a consolidated way to acquire three separate buildings under one ownership, with current in-place tenancy across the units.
Key Highlights
- Three‑building 5‑plex multifamily property
- Year built: 1965
- Fully leased, with most units reported at market rent
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 | $60.7k | $25.20 |
| − Vacancy | −$2.4k | −$1.01 |
| EGI | $58.3k | $24.19 |
| − OpEx | −$26.2k | −$10.89 |
| NOI | $32.0k | $13.31 |
2,408 SF · lease $25.20/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$457.7K
$400.5K – $534.0K
NOI $32,040 @ 7.0% cap · market cap 4.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$809.1K
$708.0K – $943.9K
NOI $56,636 @ 7.0% cap · market cap 7.81%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Fully leased three-building 5-plex, with most units reported at market rent.
Where is this apartment building located?
The property is located at 314 J Street Modesto, CA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: Three‑building 5‑plex multifamily property; Year built: 1965; Fully leased, with most units reported at market rent
