Remodeled Apartment
For Sale
$860,000
2025 E White Avenue, Fresno, CA 93701
Multi Family, Fresno, CA
Property Size4,500 SF
Lot Size0.14 Acres
Price / SF$191.11
Days on Market135
Property Features for 2025 E White Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
15
Bathrooms
5
Full bathrooms
5
Rooms
Bathroom 2, Bedroom 5, Bedroom 6, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 14, Bathroom 4, Bedroom 12, Bedroom 7, Bathroom 5, Bedroom 4, Bedroom 15, Bedroom 8, Bedroom 3, Bedroom 9, Bedroom 13, Bedroom 2, Bedroom 10, Bedroom 11
Parking features
Carport
Exterior features
Stucco
High school district
Fresno Unified
Directions
From Fresno & Belmont, go north on Fresno, west on White all the way down. Property on right.
Subdivision
701
Standard status
Active
APN
45230313
Size
4,500 SF
Lot size
0.14 Acres
Building Details
Year built
1970
Floors in Building
2
Number of units
5
Roof type
Composition
Listing Agency:
HomeSmart PV and Associates · HomeSmart International
(559) 473-2555
Listed By:
Puneet Bhargava
(209) 602-6147
Added: Apr 19
Changed: Aug 31
Last Checked: Aug 31 at 3:06PM
MLS# 647446
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 5-unit apartment property contains approximately 4,500 square feet of rentable space, with each residence configured as a 3-bedroom, 1-bath unit of approximately 900 square feet. The improvements include stucco exterior construction, a composition roof, and carport parking. Interior and exterior work, including remodeling and painting, was completed within the past three years.
All five units are currently leased through the Housing Authority, and the property accommodates Section 8 tenants. Built in 1970, the asset occupies 0.1435 acres at 2025 E White Avenue in Fresno. Its location provides access to Highway 180, shopping centers, schools, and dining. The unit count, consistent layouts, and recent updates provide a straightforward multifamily configuration for continued residential operation.
All five units are currently leased through the Housing Authority, and the property accommodates Section 8 tenants. Built in 1970, the asset occupies 0.1435 acres at 2025 E White Avenue in Fresno. Its location provides access to Highway 180, shopping centers, schools, and dining. The unit count, consistent layouts, and recent updates provide a straightforward multifamily configuration for continued residential operation.
Key Highlights
- Five 3‑bedroom, 1‑bath apartment units
- Approximately 4,500 square feet of rentable space
- Each unit measures approximately 900 square feet
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
$51,633
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
6.00%
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%
$1,032,660
$1.0M
Cap Rate 7%
$737,614
$737.6K
Cap Rate 9%
$573,700
$573.7K
Market Conditions
NOI Build-Up for 4,500 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
$98.8K $21.96/SF
− Vacancy
−$4.9K −$1.10/SF
EGI
$93.9K $20.86/SF
− OpEx
−$42.2K −$9.39/SF
NOI
$51.6K $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /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%
$1,032,660
Cap Rate 7%
$737,614
Cap Rate 9%
$573,700
Alternative Uses
Best Use
Apartment 5plus
$737.6K
$645.4K – $860.6K
NOI $51,633 @ 7.0% cap · market cap 6.00%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,826 @ 7.0% cap · market cap 10.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 93701, CA
12,037
Population
3,836
Households
3.1
Avg Household Size
28
Median Age
7%
College-Educated
48%
High-School Grad
1.5 sq mi
ZIP Area
8,025
Density / Sq Mi
$32,192
Median Household Income
$26,875
Median Earnings
$926
Median Rent
$207,600
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 - Five-unit property with renovated interiors, carport parking, and a current Housing Authority-leased tenant base.
Where is this apartment building located?
The property is located at 2025 E White Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $860,000.
What are key features of this property?
This property features: Five 3‑bedroom, 1‑bath apartment units; Approximately 4,500 square feet of rentable space; Each unit measures approximately 900 square feet
