Multifamily Income Property with Trailer
For Sale
$1,870,000
871 Vermont Ave, Turlock, CA 95380
Nineteen income-producing units on approximately 1.34 acres, including apartment units and nine trailer home stalls.
Property Size4,287 SF
Lot Size1.34 Acres
Price / SF$436.20
Days on Market168
Property Features for 871 Vermont Ave
General Information
Standard status
Active
Size
4,287 SF
Lot size
1.34 Acres
Property subtype
Multi-Family
Additional Details
Business Included
Yes
Multifamily Units
10
Building Details
Year Built
1983
Year Renovated
2020
Tenancy
Multi
Listing Agency:
PMZ Commercial Real Estate
Listed By:
Jordan R. Amarant · License #01911219
(209) 345-8209
Source:
Sacramentoareahouses
Added: Mar 21
Changed: Sep 4
Last Checked: Sep 4 at 7:18AM
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 PMZ Commercial Real Estate
Investment Insights
Based on property information with market context.
PMZ Commercial presents 871–897 Vermont Avenue, a diversified multifamily investment opportunity in Turlock. The property includes nineteen (19) income-producing units, made up of nine (9) 2-bedroom/1-bath apartment units, one (1) 1-bedroom/1-bath unit, and nine (9) trailer home stalls, combining traditional multifamily with land-lease style income.
Constructed between 1979 and 1983, the apartment units have been well maintained. Central heating and air conditioning are provided across the units, and nine of the ten apartment units were extensively remodeled between 2019 and 2020 with modernized interiors. The property also features an on-site coin-operated laundry facility and six (6) personal storage closets, creating additional income opportunities.
Rent levels for both apartment units and trailer stalls are described as below market, supporting potential for increased net operating income through rent adjustments. The unit mix and multiple income streams are designed to offer a combination of stability and growth for investors.
Constructed between 1979 and 1983, the apartment units have been well maintained. Central heating and air conditioning are provided across the units, and nine of the ten apartment units were extensively remodeled between 2019 and 2020 with modernized interiors. The property also features an on-site coin-operated laundry facility and six (6) personal storage closets, creating additional income opportunities.
Rent levels for both apartment units and trailer stalls are described as below market, supporting potential for increased net operating income through rent adjustments. The unit mix and multiple income streams are designed to offer a combination of stability and growth for investors.
Key Highlights
- 19 income‑producing units on approx. 1.34 acres in Turlock, including 9 two‑bedroom/one‑bath, 1 one‑bedroom/one‑bath, and 9 trailer home stalls
- Built 1979–1983; nine of the ten apartment units extensively remodeled between 2019 and 2020 with modernized interiors
- All units feature central heating and air conditioning
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
$53,518
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
2.86%
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%
$1,070,360
$1.1M
Cap Rate 7%
$764,543
$764.5K
Cap Rate 9%
$594,644
$594.6K
Market Conditions
NOI Build-Up for 4,287 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
$99.8K $23.28/SF
− Vacancy
−$2.5K −$0.58/SF
EGI
$97.3K $22.70/SF
− OpEx
−$43.8K −$10.21/SF
NOI
$53.5K $12.48/SF
Area
Stanislaus County, CA
Vacancy
2.50%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,070,360
Cap Rate 7%
$764,543
Cap Rate 9%
$594,644
Alternative Uses
Best Use
Apartment 5plus
$764.5K
$669.0K – $892.0K
NOI $53,518 @ 7.0% cap · market cap 2.86%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.99M
$1.74M – $2.32M
NOI $139,479 @ 7.0% cap · market cap 7.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
10
Residential units
Multi-tenant
Tenancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
778
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Nineteen income-producing units on approximately 1.34 acres, including apartment units and nine trailer home stalls.
Where is this apartment building located?
The property is located at 871 Vermont Ave Turlock, CA.
What is the asking price?
The asking price for this property is $1,870,000.
What are key features of this property?
This property features: 19 income‑producing units on approx. 1.34 acres in Turlock, including 9 two‑bedroom/one‑bath, 1 one‑bedroom/one‑bath, and 9 trailer home stalls; Built 1979–1983; nine of the ten apartment units extensively remodeled between 2019 and 2020 with modernized interiors; All units feature central heating and air conditioning
