Five-Home Multifamily on Three
For Sale
$799,000
25250 Rd 216, Lindsay, CA 93247
MULTI_FAMILY - Lindsay, CA
Property Size5,556 SF
Lot Size1.54 Acres
Price / SF$143.81
Days on Market76
Property Features for 25250 Rd 216
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
13
Bathrooms
8
Full bathrooms
8
Rooms
Bathroom 3, Bedroom 10, Bedroom 2, Bedroom 7, Bathroom 6, Bedroom 12, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 6, Bathroom 7, Bathroom 2, Bedroom 9, Bedroom 4, Bathroom 8, Bathroom 4, Bedroom 11, Bedroom 13, Bedroom 8, Bedroom 3, Bathroom 5
Directions
Corner of Rd216 / Cypress Ave.
Subdivision
Lindsay
Standard status
Active
APN
142140021
Size
5,556 SF
Lot size
1.54 Acres
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Floor Furnace, Wall Furnace
Cooling system
Evaporative Cooling, Window Unit(s), Wall/Window Unit(s), Electric
Water source
Public
Building Details
Year built
2008
Floors in Building
1
Number of units
5
Roof type
Composition
Listing Agency:
The Equity Group
(559) 732-8800
Listed By:
Franklin J Romine · License #01367450
(559) 804-4422
Added: Jun 8
Changed: Aug 4
Last Checked: Aug 22 at 3:06PM
MLS# 242196
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 five-home multifamily offering is spread across three separate parcels on a combined 1.54-acre lot. The property includes two modern homes built in 2008, each with 3 bedrooms and 2 bathrooms and nearly 1,300 square feet of living space. In addition, there are three older homes built between 1960 and 1970, ranging from 875 to 1,216 square feet.
All five homes are fully rented with long-term tenants, many in place for over ten years. Tenant-paid utilities are structured with electricity and trash paid by the tenants, and tenants paying for water. The property features public water and public sewer services, a composition roof, and a combination of natural gas and electric heating, including wall and floor furnaces.
With a total property size of 5,556 square feet, this package combines in-place occupancy with room to expand through adding more units.
All five homes are fully rented with long-term tenants, many in place for over ten years. Tenant-paid utilities are structured with electricity and trash paid by the tenants, and tenants paying for water. The property features public water and public sewer services, a composition roof, and a combination of natural gas and electric heating, including wall and floor furnaces.
With a total property size of 5,556 square feet, this package combines in-place occupancy with room to expand through adding more units.
Key Highlights
- Five homes on three separate parcels totaling 1.54 acres
- Two 2008‑built 3‑bedroom, 2‑bath homes, each nearly 1,300 SF
- Three homes built between 1960 and 1970, ranging from 875 to 1,216 SF
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
$46,138
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
5.77%
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%
$922,760
$922.8K
Cap Rate 7%
$659,114
$659.1K
Cap Rate 9%
$512,644
$512.6K
Market Conditions
NOI Build-Up for 5,556 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
$90.0K $16.20/SF
− Vacancy
−$6.1K −$1.10/SF
EGI
$83.9K $15.10/SF
− OpEx
−$37.7K −$6.79/SF
NOI
$46.1K $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 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%
$922,760
Cap Rate 7%
$659,114
Cap Rate 9%
$512,644
Alternative Uses
Best Use
Apartment 5plus
$659.1K
$576.7K – $769.0K
NOI $46,138 @ 7.0% cap · market cap 5.77%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.69M
$1.48M – $1.97M
NOI $118,134 @ 7.0% cap · market cap 14.79%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
11
Businesses Nearby
Explore this area
Business Placement
Demographics for 93247, CA
18,210
Population
5,731
Households
3.2
Avg Household Size
30
Median Age
7%
College-Educated
64%
High-School Grad
65.8 sq mi
ZIP Area
277
Density / Sq Mi
$55,460
Median Household Income
$29,492
Median Earnings
$957
Median Rent
$271,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Five fully rented homes on three parcels with a mix of two newer 3-bedroom homes and three older residences.
Where is this apartment building located?
The property is located at 25250 Rd 216 Lindsay, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Five homes on three separate parcels totaling 1.54 acres; Two 2008‑built 3‑bedroom, 2‑bath homes, each nearly 1,300 SF; Three homes built between 1960 and 1970, ranging from 875 to 1,216 SF
