Four-Unit Apartment
For Sale
$675,000
2701 N Wishon Avenue, Fresno, CA 93704
Multi Family, Fresno, CA
Property Size2,448 SF
Lot Size0.08 Acres
Price / SF$275.74
Days on Market71
Property Features for 2701 N Wishon Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 1, Bathroom 3, Bedroom 4, Bathroom 1, Bathroom 4, Bedroom 2, Bathroom 2, Bedroom 3
Exterior features
Stucco
Lot features
Corner
High school district
Fresno Unified
Directions
Shields and Wishon
Subdivision
704
Standard status
Active
APN
44324116
Size
2,448 SF
Lot size
0.08 Acres
Building Details
Year built
1928
Floors in Building
2
Number of units
4
Roof type
Wood
Listing Agency:
Fresno Income Properties
(559) 438-9410
Listed By:
Paul Gestic · License #01376488
(559) 438-9410
Added: Jun 17
Changed: Aug 25
Last Checked: Aug 26 at 3:06AM
MLS# 650578
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 2,448-square-foot quadplex contains four residential units, each arranged with one bedroom and one bathroom. Built in 1928, the property features a stucco exterior, wood roof, and a practical configuration suited to multifamily residential use. The 0.0826-acre site is located at 2701 N Wishon Avenue in Fresno, California.
The property fronts Wishon Avenue, providing direct street access and proximity to public transportation, major corridors, and neighborhood services. Its location within Fresno and four-unit layout offer a straightforward residential income configuration for an owner or investor.
The property fronts Wishon Avenue, providing direct street access and proximity to public transportation, major corridors, and neighborhood services. Its location within Fresno and four-unit layout offer a straightforward residential income configuration for an owner or investor.
Key Highlights
- Four‑unit quadplex with four one‑bedroom, one‑bathroom residences
- 2,448 square feet of building area
- 0.0826‑acre site at 2701 N Wishon Avenue, Fresno, CA 93704
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
$32,063
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
4.75%
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%
$641,260
$641.3K
Cap Rate 7%
$458,043
$458.0K
Cap Rate 9%
$356,256
$356.3K
Market Conditions
NOI Build-Up for 2,448 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
$48.5K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$45.8K $18.71/SF
− OpEx
−$13.7K −$5.61/SF
NOI
$32.1K $13.10/SF
Area
Fresno, CA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
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%
$641,260
Cap Rate 7%
$458,043
Cap Rate 9%
$356,256
Alternative Uses
Best Use
Multifamily LT 5
$458.0K
$400.8K – $534.4K
NOI $32,063 @ 7.0% cap · market cap 4.75%
Second Best
Apartment 5plus
$401.3K
$351.1K – $468.2K
NOI $28,089 @ 7.0% cap · market cap 4.16%
Theoretical Best
Office A
$721.4K
$631.2K – $841.6K
NOI $50,497 @ 7.0% cap · market cap 7.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
696
Businesses Nearby
Explore this area
Business Placement
Demographics for 93704, CA
28,573
Population
12,165
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
5,291
Density / Sq Mi
$69,659
Median Household Income
$45,965
Median Earnings
$1,392
Median Rent
$366,000
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?
Quadplex - Four one-bedroom residences in a compact multifamily property with stucco exterior and access to neighborhood services.
Where is this quadplex located?
The property is located at 2701 N Wishon Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Four‑unit quadplex with four one‑bedroom, one‑bathroom residences; 2,448 square feet of building area; 0.0826‑acre site at 2701 N Wishon Avenue, Fresno, CA 93704
