Rented Triplex With
For Sale
$499,000
35373 Pine Drive, Springville, CA 93265
MULTI_FAMILY - Springville, CA
Property Size2,604 SF
Lot Size0.06 Acres
Price / SF$191.63
Days on Market294
Property Features for 35373 Pine Drive
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bedroom 5, Bathroom 3, Laundry Room, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 4, Bedroom 3, Bedroom 2
Parking features
Carport
Lot features
Back Yard, Corner Lot, Fencing, Front Yard
Directions
Take Hwy 190 east to Springville town. Turn right (southeast) on James Rd and it will turn into Pine Drive. The property is located on the corner of Pine Drive and Tule River Drive
Subdivision
Springville
Standard status
Active
APN
285160015000
Size
2,604 SF
Lot size
0.06 Acres
Utilities
Sewer type
Public Sewer
Cooling system
Ceiling Fan(s), Wall/Window Unit(s), Window Unit(s)
Water source
Public
Building Details
Year built
1951
Floors in Building
2
Number of units
4
Listing Agency:
Bella Homes and Properties,Inc
(559) 359-3333
Listed By:
Casey J Castillo · License #01860804
(559) 359-3333
Added: Oct 20, 2025
Changed: Aug 3
Last Checked: Aug 9 at 3:06PM
MLS# 237971
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 2,604-square-foot triplex was built in 1951 and contains five bedrooms, four bathrooms, and a laundry room across its residential layout. All three units are currently rented. Cooling is provided through ceiling fans and wall or window units, while carport parking serves the property.
The 0.06-acre property is located in Springville, California, with public water and public sewer service. Its room inventory includes four bathrooms, five bedrooms, and dedicated laundry space, providing a clearly defined multifamily configuration for continued residential use.
The 0.06-acre property is located in Springville, California, with public water and public sewer service. Its room inventory includes four bathrooms, five bedrooms, and dedicated laundry space, providing a clearly defined multifamily configuration for continued residential use.
Key Highlights
- Three‑unit multifamily property with all units currently rented
- 2,604 square feet on a 0.06‑acre lot
- Five bedrooms and four bathrooms
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
$23,530
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
4.72%
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%
$470,600
$470.6K
Cap Rate 7%
$336,143
$336.1K
Cap Rate 9%
$261,444
$261.4K
Market Conditions
NOI Build-Up for 2,604 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
$35.9K $13.80/SF
− Vacancy
−$2.3K −$0.89/SF
EGI
$33.6K $12.91/SF
− OpEx
−$10.1K −$3.87/SF
NOI
$23.5K $9.04/SF
Area
Tulare County, CA
Vacancy
6.46%
Lease Rate
$13.80 /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%
$470,600
Cap Rate 7%
$336,143
Cap Rate 9%
$261,444
Alternative Uses
Best Use
Multifamily LT 5
$336.1K
$294.1K – $392.2K
NOI $23,530 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$308.9K
$270.3K – $360.4K
NOI $21,624 @ 7.0% cap · market cap 4.33%
Theoretical Best
Specialty Retail
$791.0K
$692.1K – $922.8K
NOI $55,368 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
93
Businesses Nearby
Explore this area
Business Placement
Demographics for 93265, CA
4,117
Population
1,901
Households
2.2
Avg Household Size
50
Median Age
43%
College-Educated
96%
High-School Grad
389.7 sq mi
ZIP Area
11
Density / Sq Mi
$103,672
Median Household Income
$61,302
Median Earnings
$440,800
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?
Triplex - Three occupied residential units feature on-site carport parking, public water, and public sewer service.
Where is this triplex located?
The property is located at 35373 Pine Drive Springville, CA.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Three‑unit multifamily property with all units currently rented; 2,604 square feet on a 0.06‑acre lot; Five bedrooms and four bathrooms
