Renovated Mixed-Use Multifamily
631 I Street Los Banos, CA 93635
631 I Street, Los Banos, CA, 93635
$1,450,000
For Sale
$1,450,000
Renovated 11-unit property includes 2 commercial units, updated interiors, and tenant-paid gas and electric.
Property Size5,230 SF
Price / SF$277.25
Days on Market225
Property Features for 631 I Street
General Information
- Standard status
- Active
- Size
- 5,230 SF
- Property subtype
- 5+ Units / Five or More Units
Building Details
- Year Built
- 1939
Listing agency
The Pinza Group, Inc
(925) 290-7044
Listed by
Jay Flores · License #02037775
(925) 290-7044
Source
Compass
Added: Dec 9, 2025 Updated: Jul 22 at 10:08AM Checked: Jul 22 at 10:08AM
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 The Pinza Group, Inc
Investment Insights
Based on property information with market context.
This renovated multi-unit property consists of 11 total units: seven 1-bedroom/1-bath residences, two 2-bedroom/1-bath residences, and two commercial units. Interior updates include new kitchens, remodeled bathrooms, refreshed flooring, and updated electrical systems, along with new doors and windows. The property also includes HVAC repairs, security enhancements, and outdoor improvements such as resurfaced asphalt and a secure backyard.
The property is located in downtown Los Banos and is conveniently near Highway 152, along with shops and parks. Tenants currently cover their own gas and electric expenses, leaving the owner responsible only for water and trash removal.
A commercial unit is currently vacant, presenting value-added leasing opportunity. The property also has approved ADU plans for two additional units and room to potentially add rental income.
The property is located in downtown Los Banos and is conveniently near Highway 152, along with shops and parks. Tenants currently cover their own gas and electric expenses, leaving the owner responsible only for water and trash removal.
A commercial unit is currently vacant, presenting value-added leasing opportunity. The property also has approved ADU plans for two additional units and room to potentially add rental income.
Key Highlights
- Renovated 11‑unit multi‑unit property (7x 1BD/1BTH, 2x 2BD/1BTH) plus 2 commercial units
- Renovations include new kitchens, remodeled bathrooms, new flooring, updated electrical systems, doors, and windows
- Tenant‑paid gas and electric; owner expenses listed as water and trash removal
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 | $121.8k | $23.28 |
| − Vacancy | −$6.1k | −$1.16 |
| EGI | $115.7k | $22.12 |
| − OpEx | −$52.1k | −$9.95 |
| NOI | $63.6k | $12.16 |
5,230 SF · lease $23.28/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$908.8K
$795.2K – $1.06M
NOI $63,617 @ 7.0% cap · market cap 4.39%
Second Best
Retail
$152.9K
$133.8K – $178.4K
NOI $10,703 @ 7.0% cap · market cap 0.74%
Theoretical Best
Healthcare Medical
$1.15M
$1.01M – $1.35M
NOI $80,772 @ 7.0% cap · market cap 5.57%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
ROSSYS zumba
Gym & Fitness Center
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Renovated 11-unit property includes 2 commercial units, updated interiors, and tenant-paid gas and electric.
Where is this apartment building located?
The property is located at 631 I Street Los Banos, CA.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: Renovated 11‑unit multi‑unit property (7x 1BD/1BTH, 2x 2BD/1BTH) plus 2 commercial units; Renovations include new kitchens, remodeled bathrooms, new flooring, updated electrical systems, doors, and windows; Tenant‑paid gas and electric; owner expenses listed as water and trash removal
