Five-Unit Apartment
For Sale
$595,000
Pending
421 14th St, Modesto, CA 95354
Upgraded interiors, separate structures, and on-site parking support a practical multifamily configuration.
Property Size2,791 SF
Days on Market70
Property Features for 421 14th St
General Information
Standard status
Pending
Size
2,791 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Building Details
Year Built
1895
Listing Agency:
Colliers Parrish Intenational Inc.
Listed By:
Andrew T. Hodgson · License #01796017
(209) 475-5100
Source:
Homesofgreatersacramento
Added: Aug 10
Changed: Oct 1
Last Checked: Oct 16 at 9:38AM
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 Colliers Parrish Intenational Inc.
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Investment Insights
Based on property information with market context.
This five-unit apartment property in Modesto includes three units rebuilt in 2012, along with a studio and one-bedroom unit located in separate standalone structures. Interior improvements have been completed across all units, and the exterior has been freshly painted. The layout offers separation among the residences, while a private driveway serves two units.
Located at 421 14th St, the property also benefits from ample street parking. Current rents reflect approximately 13% loss-to-lease, providing a documented operating detail for review. The combination of updated interiors, newer rebuilt units, separate structures, and limited immediate capital needs creates a clearly defined multifamily configuration.
Located at 421 14th St, the property also benefits from ample street parking. Current rents reflect approximately 13% loss-to-lease, providing a documented operating detail for review. The combination of updated interiors, newer rebuilt units, separate structures, and limited immediate capital needs creates a clearly defined multifamily configuration.
Key Highlights
- Five‑unit apartment property at 421 14th St, Modesto, CA 95354
- Three of five units were rebuilt in 2012
- Studio and one‑bedroom units occupy separate standalone structures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,136
Cap Rate
6.24%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$742,720
$742.7K
Cap Rate 7%
$530,514
$530.5K
Cap Rate 9%
$412,622
$412.6K
Market Conditions
NOI Build-Up for 2,791 SF
Gross rent
$70.3K $25.20/SF
− Vacancy
−$2.8K −$1.01/SF
EGI
$67.5K $24.19/SF
− OpEx
−$30.4K −$10.89/SF
NOI
$37.1K $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%
$742,720
Cap Rate 7%
$530,514
Cap Rate 9%
$412,622
Alternative Uses
Best Use
Apartment 5plus
$530.5K
$464.2K – $618.9K
NOI $37,136 @ 7.0% cap · market cap 6.24%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$937.8K
$820.6K – $1.09M
NOI $65,644 @ 7.0% cap · market cap 11.03%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,607
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Upgraded interiors, separate structures, and on-site parking support a practical multifamily configuration.
Where is this apartment building located?
The property is located at 421 14th St Modesto, CA.
What is the asking price?
The asking price for this property is $595,000.
What are key features of this property?
This property features: Five‑unit apartment property at 421 14th St, Modesto, CA 95354; Three of five units were rebuilt in 2012; Studio and one‑bedroom units occupy separate standalone structures
