Duplex with Two Updated
For Sale
$299,900
Pending
2901 E Olive Avenue, Fresno, CA 93701
MULTI_FAMILY - Fresno, CA
Property Size1,480 SF
Lot Size0.16 Acres
Days on Market114
Property Features for 2901 E Olive Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
CG
Parking features
Garage
Directions
From CA-180, Exit Chestnut Ave North, Turn Left On E Olive Ave, Property Is On The Corner.
Subdivision
Fresno
Standard status
Pending
APN
45132319
Size
1,480 SF
Lot size
0.16 Acres
Utilities
Heating system
Wall Furnace
Building Details
Floors in Building
1
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Added: May 1
Changed: Aug 17
Last Checked: Aug 22 at 7:06PM
MLS# 234135
Copyright © 2026 Kings County Board 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 Fresno duplex includes two income-producing units with separate 2-bedroom/1-bath and 1-bedroom/1-bath layouts. Unit A offers a 2 bed/1 bath configuration with an updated kitchen featuring granite counters and LVP flooring throughout. Unit B is a 1 bed/1 bath unit with an updated kitchen and granite counters, along with granite counters in the bath, plus LVP and tile flooring. The property was built in 1928.
The duplex sits on a lot with garage space and is described as conveniently located near major roads, shopping, and local amenities.
Zoned CG, this is a straightforward two-unit residential income property for buyers looking for a duplex format with in-place unit improvements.
The duplex sits on a lot with garage space and is described as conveniently located near major roads, shopping, and local amenities.
Zoned CG, this is a straightforward two-unit residential income property for buyers looking for a duplex format with in-place unit improvements.
Key Highlights
- Two‑unit duplex in Fresno with approximately 1,480 sq ft combined living space
- Built in 1928, featuring Unit A (2BD/1BA) and Unit B (1BD/1BA)
- Updated kitchens in both units with granite counters
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
$19,385
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
6.46%
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%
$387,700
$387.7K
Cap Rate 7%
$276,929
$276.9K
Cap Rate 9%
$215,389
$215.4K
Market Conditions
NOI Build-Up for 1,480 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
$29.3K $19.80/SF
− Vacancy
−$1.6K −$1.09/SF
EGI
$27.7K $18.71/SF
− OpEx
−$8.3K −$5.61/SF
NOI
$19.4K $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%
$387,700
Cap Rate 7%
$276,929
Cap Rate 9%
$215,389
Alternative Uses
Best Use
Multifamily LT 5
$276.9K
$242.3K – $323.1K
NOI $19,385 @ 7.0% cap · market cap 6.46%
Second Best
Apartment 5plus
$242.6K
$212.3K – $283.0K
NOI $16,982 @ 7.0% cap · market cap 5.66%
Theoretical Best
Office A
$436.1K
$381.6K – $508.8K
NOI $30,529 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
840
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
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Frequently Asked Questions
What type of property is this?
Duplex - Duplex with two units, each featuring updated kitchens with granite counters and LVP flooring.
Where is this duplex located?
The property is located at 2901 E Olive Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $299,900.
What are key features of this property?
This property features: Two‑unit duplex in Fresno with approximately 1,480 sq ft combined living space; Built in 1928, featuring Unit A (2BD/1BA) and Unit B (1BD/1BA); Updated kitchens in both units with granite counters
