Four-Unit Multifamily
For Sale
Under Contract
$809,900
366 E El Paso Avenue, Fresno, CA 93720
MULTI_FAMILY - Fresno, CA
Property Size4,032 SF
Lot Size0.23 Acres
Price / SF$200.87
Days on Market117
Property Features for 366 E El Paso Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RM1
Parking features
Garage
Patio and Porch features
Patio
Fireplace
1
Directions
From Hwy 41 North, take the Friant Rd exit and head east. Turn right on Fresno St, then left on El Paso Ave. Property will be on your right.
Subdivision
Fresno
Standard status
Active Under Contract
APN
30333015
Size
4,032 SF
Lot size
0.23 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Building Details
Floors in Building
2
Flooring type
Laminate, Tile
Roof type
Composition
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Added: Apr 29
Changed: Jul 31
Last Checked: Aug 23 at 1:06AM
MLS# 234082
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 four-unit multifamily property is set on one lot with two separate structures. One detached unit is designated as Unit 101, and the second building includes Units 102, 103, and 104, creating a flexible ownership and tenant arrangement. The property is currently fully occupied.
Several units have been updated. Unit 101 features upgraded bathrooms with tile flooring. Unit 102 includes an updated kitchen and bathrooms. Units 103 and 104 offer newer kitchen cabinetry with granite countertops, along with LVP flooring throughout the living areas and bedrooms.
The buildings include central heating and a composition roof. Flooring elements include laminate and tile, and the property has a garage and a patio. Fireplace is present. Water and sewer service are public, supporting ongoing residential use. Zoning is RM1, and the lot size is 0.233 acres with 4,032 square feet of property size.
Several units have been updated. Unit 101 features upgraded bathrooms with tile flooring. Unit 102 includes an updated kitchen and bathrooms. Units 103 and 104 offer newer kitchen cabinetry with granite countertops, along with LVP flooring throughout the living areas and bedrooms.
The buildings include central heating and a composition roof. Flooring elements include laminate and tile, and the property has a garage and a patio. Fireplace is present. Water and sewer service are public, supporting ongoing residential use. Zoning is RM1, and the lot size is 0.233 acres with 4,032 square feet of property size.
Key Highlights
- Four‑unit multifamily property on one lot with two separate structures
- Currently fully occupied
- Unit 101 upgraded bathrooms with tile flooring
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
$46,556
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
5.75%
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%
$931,120
$931.1K
Cap Rate 7%
$665,086
$665.1K
Cap Rate 9%
$517,289
$517.3K
Market Conditions
NOI Build-Up for 4,032 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
$70.2K $17.40/SF
− Vacancy
−$3.6K −$0.90/SF
EGI
$66.5K $16.50/SF
− OpEx
−$20.0K −$4.95/SF
NOI
$46.6K $11.55/SF
Area
ZIP 93720
Vacancy
5.20%
Lease Rate
$17.40 /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%
$931,120
Cap Rate 7%
$665,086
Cap Rate 9%
$517,289
Alternative Uses
Best Use
Multifamily LT 5
$665.1K
$582.0K – $775.9K
NOI $46,556 @ 7.0% cap · market cap 5.75%
Second Best
Apartment 5plus
$615.3K
$538.4K – $717.8K
NOI $43,068 @ 7.0% cap · market cap 5.32%
Theoretical Best
Office A
$831.1K
$727.2K – $969.6K
NOI $58,177 @ 7.0% cap · market cap 7.18%
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
1,975
Businesses Nearby
Explore this area
Business Placement
Demographics for 93720, CA
47,814
Population
19,738
Households
2.4
Avg Household Size
39
Median Age
47%
College-Educated
95%
High-School Grad
10.4 sq mi
ZIP Area
4,598
Density / Sq Mi
$103,636
Median Household Income
$56,888
Median Earnings
$1,990
Median Rent
$457,800
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?
Quadplex - Four-unit multifamily property with two structures on one lot, fully occupied, and public utilities in Fresno.
Where is this quadplex located?
The property is located at 366 E El Paso Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $809,900.
What are key features of this property?
This property features: Four‑unit multifamily property on one lot with two separate structures; Currently fully occupied; Unit 101 upgraded bathrooms with tile flooring
