Five-Unit Apartment
For Sale
$700,000
382 N Glenn Avenue, Fresno, CA 93701
Multi Family, Fresno, CA
Property Size4,260 SF
Lot Size0.17 Acres
Price / SF$164.32
Days on Market57
Property Features for 382 N Glenn Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
10
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 8, Bedroom 3, Bedroom 2, Bathroom 2, Bedroom 9, Bathroom 4, Bedroom 10, Bedroom 7, Bathroom 3, Bathroom 5, Bedroom 6, Bedroom 1, Bedroom 5, Bedroom 4, Bathroom 1
Parking features
Carport
Exterior features
Stucco, Brick
High school district
Fresno Unified
Directions
From Belmont- north on Glenn. Property is on the left.
Subdivision
701
Standard status
Active
APN
45915222
Size
4,260 SF
Lot size
0.17 Acres
Building Details
Year built
1966
Floors in Building
2
Number of units
5
Listing Agency:
HomeSmart PV and Associates · HomeSmart International
(559) 473-2555
Listed By:
Puneet Bhargava
(209) 602-6147
Added: Jul 6
Changed: Aug 31
Last Checked: Aug 31 at 4:06PM
MLS# 651534
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 4,260-square-foot apartment building contains five two-bedroom, one-bath units, each currently occupied under an annual lease. Approximately 11 months remain on each lease. The 1966 property features updated interiors, stucco and brick exterior finishes, and carport parking. The building sits on a 0.1745-acre parcel.
Located at 382 N Glenn Avenue in Fresno, the property is less than one mile from Highway 180. Shopping, restaurants, schools, and other amenities are identified in the surrounding area. The combination of five residential units, current occupancy, in-place leases, and established physical improvements provides a clearly defined multifamily configuration.
Located at 382 N Glenn Avenue in Fresno, the property is less than one mile from Highway 180. Shopping, restaurants, schools, and other amenities are identified in the surrounding area. The combination of five residential units, current occupancy, in-place leases, and established physical improvements provides a clearly defined multifamily configuration.
Key Highlights
- Five 2‑bedroom, 1‑bath apartment units
- 4,260 square feet on a 0.1745‑acre parcel
- All units occupied with approximately 11 months remaining on annual leases
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
$48,880
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
6.98%
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%
$977,600
$977.6K
Cap Rate 7%
$698,286
$698.3K
Cap Rate 9%
$543,111
$543.1K
Market Conditions
NOI Build-Up for 4,260 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
$93.5K $21.96/SF
− Vacancy
−$4.7K −$1.10/SF
EGI
$88.9K $20.86/SF
− OpEx
−$40.0K −$9.39/SF
NOI
$48.9K $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /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%
$977,600
Cap Rate 7%
$698,286
Cap Rate 9%
$543,111
Alternative Uses
Best Use
Apartment 5plus
$698.3K
$611.0K – $814.7K
NOI $48,880 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,875 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
3,129
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?
Apartment building - Occupied apartment property with updated interiors, annual leases, and carport parking near Highway 180.
Where is this apartment building located?
The property is located at 382 N Glenn Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Five 2‑bedroom, 1‑bath apartment units; 4,260 square feet on a 0.1745‑acre parcel; All units occupied with approximately 11 months remaining on annual leases
