42-Unit Apartment
For Sale
$5,670,000
1905 E Pontiac Way, Fresno, CA 93726
Multi Family, Fresno, CA
Property Size28,728 SF
Lot Size1.17 Acres
Price / SF$197.37
Days on Market85
Property Features for 1905 E Pontiac Way
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
44
Bathrooms
42
Full bathrooms
42
Rooms
Bathroom 20, Bathroom 23, Bathroom 39, Bathroom 33, Bedroom 35, Bedroom 9, Bedroom 21, Bathroom 29, Bathroom 4, Bathroom 28, Bathroom 25, Bathroom 26, Bathroom 2, Bedroom 10, Bedroom 24, Bedroom 3, Bedroom 40, Bathroom 12, Bedroom 43, Bathroom 30, Bedroom 44, Bathroom 11, Bedroom 20, Bedroom 38, Bedroom 7, Bathroom 3, Bedroom 36, Bedroom 22, Bathroom 42, Bathroom 15, Bedroom 6, Bathroom 24, Bedroom 42, Bathroom 35, Bedroom 8, Bedroom 32, Bedroom 39, Bedroom 31, Bedroom 33, Bedroom 26, Bedroom 5, Bedroom 2, Bedroom 23, Bedroom 19, Bathroom 7, Bedroom 4, Bedroom 37, Bedroom 41, Bedroom 25, Bathroom 5, Bathroom 13, Bedroom 30, Bathroom 18, Bathroom 17, Bedroom 29, Bathroom 36, Bathroom 1, Bedroom 14, Bathroom 34, Bedroom 1, Bathroom 32, Bathroom 9, Bathroom 31, Bedroom 13, Bathroom 10, Bedroom 17, Bedroom 18, Bathroom 16, Bathroom 40, Bedroom 28, Bathroom 27, Bathroom 14, Bathroom 41, Bathroom 19, Bedroom 34, Bedroom 11, Bathroom 22, Bedroom 15, Bathroom 37, Bedroom 12, Bedroom 16, Bathroom 6, Bathroom 8, Bathroom 21, Bedroom 27, Bathroom 38
Parking features
Carport, Covered
Exterior features
Stucco, Wood, Brick
High school district
Fresno Unified
Directions
South on Blackstone, Left on Griffith Way, Left on Pontiac Way
Subdivision
726
Standard status
Active
APN
436182141
Size
28,728 SF
Lot size
1.17 Acres
Amenities
lush landscaping
gated pool
on-site laundry facilities
Building Details
Year built
1978
Floors in Building
2
Number of units
42
Roof type
Tile
Listing Agency:
Fresno Income Properties
(559) 438-9410
Listed By:
Paul Gestic · License #01376488
(559) 438-9410
Added: Jun 3
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 649860
Copyright © 2026 Fresno Association of Realtors. 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 42-unit apartment property in Fresno includes 40 one-bedroom, one-bath residences and 2 two-bedroom residences. The improvements total 28,728 square feet on 1.17 acres and date to 1978. Exterior materials include stucco, wood, and brick, with a tile roof and covered carport parking.
Resident amenities include a gated pool, landscaped grounds, and on-site laundry facilities. The property is located at 1905 E Pontiac Way in Fresno, California, providing a defined multifamily asset with a range of unit configurations and established site improvements.
Resident amenities include a gated pool, landscaped grounds, and on-site laundry facilities. The property is located at 1905 E Pontiac Way in Fresno, California, providing a defined multifamily asset with a range of unit configurations and established site improvements.
Key Highlights
- 42 units across 40 one‑bedroom and 2 two‑bedroom residences
- 28,728‑square‑foot apartment property on 1.17 acres
- Gated pool and landscaped grounds
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
$306,212
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
5.40%
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%
$6,124,240
$6.1M
Cap Rate 7%
$4,374,457
$4.4M
Cap Rate 9%
$3,402,356
$3.4M
Market Conditions
NOI Build-Up for 28,728 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
$586.1K $20.40/SF
− Vacancy
−$29.3K −$1.02/SF
EGI
$556.7K $19.38/SF
− OpEx
−$250.5K −$8.72/SF
NOI
$306.2K $10.66/SF
Area
ZIP 93726
Vacancy
5.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
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%
$6,124,240
Cap Rate 7%
$4,374,457
Cap Rate 9%
$3,402,356
Alternative Uses
Best Use
Apartment 5plus
$4.37M
$3.83M – $5.10M
NOI $306,212 @ 7.0% cap · market cap 5.40%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$5.96M
$5.21M – $6.95M
NOI $416,993 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
42
Residential units
Location Intelligence
Trade Area within ½ mile
1,066
Businesses Nearby
Explore this area
Business Placement
Demographics for 93726, CA
42,366
Population
15,744
Households
2.7
Avg Household Size
31
Median Age
17%
College-Educated
78%
High-School Grad
6.4 sq mi
ZIP Area
6,620
Density / Sq Mi
$51,913
Median Household Income
$31,697
Median Earnings
$1,254
Median Rent
$271,800
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?
Apartment building - Multifamily property with a gated pool, landscaped grounds, and on-site laundry facilities.
Where is this apartment building located?
The property is located at 1905 E Pontiac Way Fresno, CA.
What is the asking price?
The asking price for this property is $5,670,000.
What are key features of this property?
This property features: 42 units across 40 one‑bedroom and 2 two‑bedroom residences; 28,728‑square‑foot apartment property on 1.17 acres; Gated pool and landscaped grounds
