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    Victorian Quadruplex in Downtown Hanford Title is generated by Realmo AI

    132 E 10th Street, Hanford, CA 93230

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    For Sale
    $595,000

    MULTI_FAMILY - Hanford, CA

    Property size:
    3,206 SF
    Lot size:
    0.18 Acres
    Price / SF:
    $185/SF
    Added:
    Jun 6, 2025
    Days on Market:
    362
    Last Refresh:
    Jun 2 at 10:06 am

    Property Features for 132 E 10th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    5
    Bathrooms
    4
    Rooms
    Bathroom 3, Bedroom 5, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 4, Bedroom 1, Bathroom 1
    Standard status
    Active
    APN
    010226011000
    Size
    3,206 SF
    Lot size
    0.18 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Wall Furnace, Natural Gas
    Cooling system
    Wall/Window Unit(s), Window Unit(s), Ceiling Fan(s)
    Water source
    Public

    Building Details

    Year built
    1904
    Floors in Building
    2
    Number of units
    4
    Roof type
    Asphalt, Shingle

    We can help!

    Listing Contact
    Derrick Usher

    Listing agent Derrick Usher

    Listing office DS Realty 136 N E Street Darcy Staberg, Exeter, CA

    Listing date Jun 6, 2025

    MLS# 235680 Listing URL

    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.

    HighLights

    • Victorian quadruplex in Downtown Hanford.
    • Seller financing available.
    • Four units: two 1‑bed 1‑bath, one 2‑bed 1‑bath, and one 1‑bed 1‑bath with balcony.
    • Walking distance to Downtown Hanford attractions (Children's Story Book Garden & Museum, Library, King's Art Center, Fox Theater).
    • Communal laundry room for all units.
    • Storage structures and shaded asphalted backyard.

    Overview

    This Victorian quadruplex is located in the heart of Downtown Hanford, across the street from the Children's Story Book Garden & Museum, and within walking distance of the Hanford Library, King's Art Center, and Fox Theater. The property includes four units. Units 132 and 134 are located on the second story and accessed by a wrap-around porch and foyer. Unit 132 features two bedrooms and one bathroom. Unit 134 is a one-bedroom, one-bathroom unit with a balcony overlooking Harris Street. Units 500 and 502 N Harris St. are first-floor one-bedroom, one-bathroom units with a communal porch accessed from the back door of both units. The communal porch leads to a laundry room that services all four units. The asphalted backyard contains storage structures for each unit and mature trees that provide ample shade. The property is situated on a 0.18-acre lot and the building size is 3,206 square feet. Seller financing is available.

    Local Financial Insights For Multifamily LT 5

    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 $58.9k $18.36
    − Vacancy −$2.7k −$0.84
    EGI $56.2k $17.52
    − OpEx −$16.9k −$5.26
    NOI $39.3k $12.27
    3,206 SF · lease $18.36/SF/yr · vacancy 4.56% · expense 30.00%

    Alternative Uses

    Best Use
    Multifamily LT 5
    $561.8K
    $491.6K – $655.4K (±1% cap)
    NOI $39,325 @ 7.0% cap · market cap 6.61%
    Second Best
    Apartment 5plus
    $500.7K
    $438.1K – $584.2K (±1% cap)
    NOI $35,050 @ 7.0% cap · market cap 5.89%
    Theoretical Best
    Healthcare Medical
    $1.01M
    $886.3K – $1.18M (±1% cap)
    NOI $70,903 @ 7.0% cap · market cap 11.92%
    Zoning and permitted uses should be independently verified with local authorities.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Hanford
    County
    Kings
    State
    California
    Longitude
    -119.64465
    Latitude
    36.330314

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    FAQs

    What type of property is this?
    Quadplex - Downtown Hanford quadruplex with seller financing and desirable amenities.
    Where is this quadplex located?
    The property is located at 132 E 10th Street Hanford, CA.
    What is the asking price?
    The asking price for this property is $595,000.
    What are key features of this property?
    This property features: Victorian quadruplex in Downtown Hanford.; Seller financing available.; Four units: **two 1‑bed 1‑bath, one 2‑bed 1‑bath, and one 1‑bed 1‑bath with balcony.**
    (559) 719-0304
    We can help!
    Listing Contact
    Derrick Usher
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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