Four-Unit Quadplex with RM15
For Sale
$1,400,000
11544 S 10th Avenue, Hanford, CA 93230
Residential Income, Hanford, CA
Property Size4,178 SF
Lot Size19.40 Acres
Price / SF$335.09
Days on Market1935
Property Features for 11544 S 10th Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning description
RM15
Bedrooms
10
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 10, Bedroom 3, Bedroom 6, Bathroom 5, Bathroom 7, Bathroom 1, Bedroom 8, Bedroom 7, Bedroom 9, Bedroom 1, Bathroom 2, Bathroom 6, Bathroom 8, Bedroom 5, Bedroom 2, Bedroom 4, Bathroom 4, Bathroom 3
Patio and Porch features
Porch
Appliances
Free-Standing Range
Directions
From Hwy 198 go south on 10th ave approximately 2 miles to address on the west side of the street.
Subdivision
Hanford SE
Standard status
Active
APN
011-440-010-000
Size
4,178 SF
Lot size
19.40 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Central, Forced Air
Cooling system
Electric, Central Air
Water source
Well, Public
Building Details
Year built
1931
Floors in Building
1
Number of units
4
Flooring type
Tile - Ceramic
Building materials
Stucco
Roof type
Composition
Listing Agency:
Century 21 Select Real Estate · Century 21 Real Estate
(559) 733-9696
Listed By:
Matt Thompson · License #01081237
(559) 936-7545
Added: May 3, 2021
Changed: Aug 19
Last Checked: Aug 19 at 10:06PM
MLS# 210803
Copyright © 2026 Tulare County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit quadplex offers updated interiors across all four dwellings, including tile flooring, dual pane windows, and air conditioning. Each unit is served by central heating and cooling with natural gas heating and electric cooling, and the property has a composition roof with stucco exterior construction.
The property is set on 19.4 acres zoned RM15 and serviced by water district water, with well and public water sources noted. Tenants pay all utilities. In addition to the four rentable units, there is a fifth dwelling on-site that can be remodeled and made usable again.
Unit mix includes two 3-bedroom, 2-bath dwellings at 1,284 square feet each and two 2-bedroom, 2-bath dwellings at 805 square feet each. A free-standing range is listed as an appliance, and each home includes a porch.
The property is set on 19.4 acres zoned RM15 and serviced by water district water, with well and public water sources noted. Tenants pay all utilities. In addition to the four rentable units, there is a fifth dwelling on-site that can be remodeled and made usable again.
Unit mix includes two 3-bedroom, 2-bath dwellings at 1,284 square feet each and two 2-bedroom, 2-bath dwellings at 805 square feet each. A free-standing range is listed as an appliance, and each home includes a porch.
Key Highlights
- 19.4‑acre property zoned RM15 with water district water, plus well and public water sources
- Four updated units: tile flooring, dual pane windows, and air conditioning
- Two 3 bed, 2 bath units at 1,284 SF each
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
$51,247
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
3.66%
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%
$1,024,940
$1.0M
Cap Rate 7%
$732,100
$732.1K
Cap Rate 9%
$569,411
$569.4K
Market Conditions
NOI Build-Up for 4,178 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
$76.7K $18.36/SF
− Vacancy
−$3.5K −$0.84/SF
EGI
$73.2K $17.52/SF
− OpEx
−$22.0K −$5.26/SF
NOI
$51.2K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
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%
$1,024,940
Cap Rate 7%
$732,100
Cap Rate 9%
$569,411
Alternative Uses
Best Use
Multifamily LT 5
$732.1K
$640.6K – $854.1K
NOI $51,247 @ 7.0% cap · market cap 3.66%
Second Best
Apartment 5plus
$652.5K
$571.0K – $761.3K
NOI $45,677 @ 7.0% cap · market cap 3.26%
Theoretical Best
Healthcare Medical
$1.32M
$1.16M – $1.54M
NOI $92,400 @ 7.0% cap · market cap 6.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
88
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four updated units on RM15 land with water district water; tenants pay utilities.
Where is this quadplex located?
The property is located at 11544 S 10th Avenue Hanford, CA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: 19.4‑acre property zoned RM15 with water district water, plus well and public water sources; Four updated units: tile flooring, dual pane windows, and air conditioning; Two 3 bed, 2 bath units at 1,284 SF each
