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Property profile & analytics
OFF-MARKET
Estimated value
$40,195,000
Apartment buildings
1401 Lakewood Ave Modesto, CA 95355-3577
Entity Owned
2-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-1850945
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1985
Construction
WOOD
Total area
154,264 SF
Lot
7.63 ac (332,362 SF)
APN
067-018-040-000
UPID
US09-1850945
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
The Edge At Lakewood Apartment Homes Apartment Rental Agency Apartment Complex
-
October Daisy Company Wedding Service Photography Service
-
Oxum Cleaning Services, LLC Commercial Cleaning Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$31.58M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$40.20M
Owner & transaction history
The Edge At Lakewood I LLC · 2 yrs held
The Edge At Lakewood I LLC
since 2023
Last sale
$42.7M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$65.8M
+45.7%
Auto repair, garage
$62.2M
+37.8%
Medical building
$50.3M
+11.4%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Modesto submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Modesto submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$43,800,000
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$34,210,000
6.5%
$31,580,000
7%
$29,325,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$45,120,000
Current use
COMMERCIAL (GENERAL)
$65,755,000
Change: +46% · Conversion: Moderate
AUTO REPAIR, GARAGE
$62,190,000
Change: +38% · Conversion: Difficult
MEDICAL BUILDING
$50,255,000
Change: +11% · Conversion: Moderate
INDUSTRIAL (GENERAL)
$37,220,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$40.20M
Range $36.18M – $44.21M · ±10% · vs last sale $42.70M (Dec 21 2023)
Last sale anchor
$42.70M
Dec 21 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$261 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$462,523
Tax year 2024
Assessed value
$42,725,436
Assessed 2024
Previous assessed
$42,725,436
+0.0% YoY
Effective rate
1.08%
On assessed value
Assessed land
$2,575,000
Assessed improvement
$40,150,436
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
CENTRAL
Cooling
CENTRAL
Bathrooms
5
Total area
154,264 SF
Lot
7.63 ac (332,362 SF)
APN
067-018-040-000
UPID
US09-1850945
Jurisdiction
STANISLAUS
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$45.1M
COMMERCIAL (GENERAL)
Est. value
$65.8M
AUTO REPAIR, GARAGE
Est. value
$62.2M
MEDICAL BUILDING
Est. value
$50.3M
INDUSTRIAL (GENERAL)
Est. value
$37.2M
APARTMENT HOUSE (5+ UNITS) Current
COMMERCIAL (GENERAL)
AUTO REPAIR, GARAGE
MEDICAL BUILDING
INDUSTRIAL (GENERAL)
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1985
Construction
WOOD
Heating
CENTRAL
Cooling
Yes
Bathrooms
5
Lot
7.63 ac
Current owner
From public records · entity-resolved
The Edge At Lakewood I LLC
Entity
Mailing address
1520 TOWER GRV DR, BEVERLY HILLS, CA 90210-2142
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
11 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 21, 2023
$42,700,000
The Edge At Lakewood I LLC
1401 Lakewood Ave De LLC
Grant Deed
—
May 25, 2023
—
1401 Lakewood Ave De LLC
—
Deed
related
$5,442,000 · Walker & Dunlop LLC
Apr 6, 2021
$9,469,000
1401 Lakewood Ave De LLC
Tilden Meadow Lakes LLC
Grant Deed
$3,095,000 · Federal National Mortgage Associati
Mar 27, 2020
—
Tilden-meadow Lakes LLC
—
Deed
related
$3,095,000 · Walker & Dunlop
Jul 20, 2018
$26,000,000
Tilden-meadow Lakes LLC
Meadow Lakes LLC
Grant Deed
$20,736,000 · Walker & Dunlop
Feb 12, 1997
—
Meadow Lakes Investors LP
Web Service Co INC
Quit Claim Deed
related
$5,516,000 · L J Melody & Company
Dec 4, 1992
$1,775,000
Meadow Lakes Investors
Modesto,meadow
Grant Deed
related
—
—
—
Meadow Lakes Investors
—
Deed Of Trust
related
$475,000 · Modesto Meadow
—
—
Meadows Lakes Investors
—
Deed Of Trust
related
$400,000 · Lakewood Secured
—
—
Tilden-meadow Lakes LLC
—
Deed Of Trust
related
$3,095,000 · Walker & Dunlop
—
—
Meadow Lakes LLC
—
Deed Of Trust
related
$6,500,000 · Capri Capital Finance LLC
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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