Renovated Apartment Buildings with
For Sale
$1,300,000
1506 N Cobb Street, Porterville, CA 93257
Residential Income, Porterville, CA
Property Size6,900 SF
Lot Size0.57 Acres
Price / SF$188.41
Days on Market33
Property Features for 1506 N Cobb Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
16
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 13, Bedroom 1, Bedroom 4, Bedroom 2, Bedroom 9, Bathroom 2, Bedroom 14, Bedroom 11, Bathroom 4, Bedroom 6, Bathroom 6, Bathroom 7, Bedroom 12, Bedroom 8, Bedroom 7, Bedroom 5, Bathroom 3, Laundry Room, Bedroom 15, Bedroom 3, Bathroom 1, Bedroom 16, Bedroom 10, Bathroom 5, Bathroom 8
Parking features
Carport
Interior features
Granite Counters
Appliances
6 Burner Stove, Gas Water Heater, Microwave, Oven, Range, Water Heater
Directions
North on Cobb, right hand side.
Subdivision
Porterville NW
Standard status
Active
APN
246250013000
Size
6,900 SF
Lot size
0.57 Acres
Utilities
Sewer type
Septic Tank
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Amenities
laundry rooms
carport parking
Building Details
Year built
1975
Floors in Building
1
Number of units
8
Flooring type
Carpet, Tile - Ceramic
Building materials
Stucco
Roof type
Shingle, Composition
Listing Agency:
The Equity Group
(559) 732-8800
Listed By:
Franklin J Romine · License #01367450
(559) 804-4422
Added: Sep 5
Changed: Oct 2
Last Checked: Oct 7 at 12:06AM
MLS# 243931
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 6,900-square-foot apartment property includes two four-plex buildings on a 0.57-acre parcel. The improvements date to 1975 and feature composition-shingle roofing, dual-pane windows, central air, natural-gas forced-air heating, stucco exteriors, and carport parking. Four units have received renovations including granite kitchen counters, stainless appliances, tiled bathrooms, updated flooring, and new lighting.
Each unit is separately metered, with residents responsible for gas and electric service. The property uses public water and a septic tank; a city sewer connection is available without a city connection fee. Two laundry rooms and low-maintenance landscaping add to the property’s operating setup. Located at 1506 N Cobb Street in Porterville, the property includes six burner stoves, gas water heaters, and a mix of carpet and ceramic tile flooring.
Each unit is separately metered, with residents responsible for gas and electric service. The property uses public water and a septic tank; a city sewer connection is available without a city connection fee. Two laundry rooms and low-maintenance landscaping add to the property’s operating setup. Located at 1506 N Cobb Street in Porterville, the property includes six burner stoves, gas water heaters, and a mix of carpet and ceramic tile flooring.
Key Highlights
- 8 units across two 4‑plex buildings on one 0.57‑acre parcel
- 6,900 SF apartment property in Porterville
- Four units renovated with granite counters, stainless appliances, tiled baths, new flooring, and lighting
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,298
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,145,960
$1.1M
Cap Rate 7%
$818,543
$818.5K
Cap Rate 9%
$636,644
$636.6K
Market Conditions
NOI Build-Up for 6,900 SF
Gross rent
$111.8K $16.20/SF
− Vacancy
−$7.6K −$1.10/SF
EGI
$104.2K $15.10/SF
− OpEx
−$46.9K −$6.79/SF
NOI
$57.3K $8.30/SF
Area
Tulare County, CA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,145,960
Cap Rate 7%
$818,543
Cap Rate 9%
$636,644
Alternative Uses
Best Use
Apartment 5plus
$818.5K
$716.2K – $955.0K
NOI $57,298 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.10M
$1.83M – $2.45M
NOI $146,711 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 93257, CA
79,569
Population
25,020
Households
3.2
Avg Household Size
31
Median Age
15%
College-Educated
69%
High-School Grad
378.9 sq mi
ZIP Area
210
Density / Sq Mi
$58,261
Median Household Income
$30,344
Median Earnings
$1,086
Median Rent
$276,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Eight-unit multifamily property with upgraded systems, separately metered utilities, laundry rooms, and carport parking.
Where is this apartment building located?
The property is located at 1506 N Cobb Street Porterville, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 8 units across two 4‑plex buildings on one 0.57‑acre parcel; 6,900 SF apartment property in Porterville; Four units renovated with granite counters, stainless appliances, tiled baths, new flooring, and lighting
