421 14th St - Apartments FOR SALE


Modesto, CA 95354- Downtown Modesto
$595,000 USD
209-447-5533
421 14th St, Modesto, CA for Sale
$595,000 USD
Apartments - FOR SALE
1/11
null | 5.75% Cap Rate

421 14th St
Modesto, CA 95354
Downtown Modesto


HIGHLIGHTS

  • Current rents reflect approximately 13% loss-to-lease, providing a clear path to increase rental income.
  • Three units were fully rebuilt in 2012, all interiors have been upgraded, and fresh exterior paint helps minimize near-term capital needs.
  • The property also offers ample street parking and a private driveway for two units, while the standalone studio provides added tenant privacy.

OVERVIEW

The 14th Street Apartments presents a compelling five-unit value-add investment opportunity for both first-time and seasoned multifamily investors. Three of the five units were rebuilt in 2012, while the remaining studio and one-bedroom units are housed in separate standalone structures, offering additional tenant privacy. All units have undergone interior upgrades, and the property features fresh exterior paint, limiting near-term capital expenditure requirements while enhancing overall curb appeal. The investment's current rents reflect approximately 13% loss-to-lease, providing a clear path to increase rental income. Additional operational advantages include ample street parking and a private driveway serving two units. With a favorable combination of below-market rents, upgraded units, newer construction, and limited immediate capital needs, the 14th Street Apartments provides an attractive opportunity to acquire a well maintained multifamily asset with identifiable value-add potential.

FOR SALE DETAILS

PRICE

$595,000 USD

PRICE/SF

$310 USD /SF

# OF UNITS

5

PRICE/UNIT

$119,000

CAP RATE

5.75%

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The 14th Street Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1895

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.13 AC

LAND SF

5,698 SF

ZONING

END

APN/PARCEL ID

106-18-21

ASK ABOUT THIS PROPERTY

Jason ReisingColliersMore Info
209-447-5533

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Jason ReisingColliersMore Info
209-447-5533

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.