20-Unit Apartment
For Sale
$2,600,000
425 S Maple Avenue, Fresno, CA 93702
Multi Family, Fresno, CA
Property Size17,280 SF
Lot Size0.78 Acres
Price / SF$150.46
Days on Market42
Property Features for 425 S Maple Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
48
Bathrooms
20
Full bathrooms
20
Rooms
Bathroom 15, Bathroom 7, Bathroom 17, Bedroom 5, Bedroom 27, Bedroom 32, Bedroom 39, Bedroom 38, Bathroom 19, Bedroom 44, Bedroom 43, Bedroom 3, Bedroom 23, Bedroom 4, Bedroom 48, Bathroom 3, Bathroom 5, Bedroom 17, Bedroom 45, Bedroom 19, Bedroom 42, Bedroom 12, Bedroom 8, Bathroom 6, Bedroom 29, Bedroom 33, Bathroom 12, Bedroom 34, Bathroom 10, Bedroom 7, Bedroom 18, Bedroom 20, Bedroom 35, Bedroom 14, Bathroom 16, Bedroom 30, Bedroom 24, Bedroom 47, Bathroom 9, Bedroom 1, Bathroom 2, Bedroom 25, Bedroom 40, Bedroom 10, Bedroom 41, Bedroom 2, Bedroom 11, Bedroom 46, Bedroom 26, Bathroom 4, Bedroom 36, Bathroom 14, Bedroom 9, Bedroom 13, Bedroom 37, Bathroom 8, Bedroom 21, Bedroom 22, Bedroom 6, Bathroom 11, Bathroom 18, Bedroom 16, Bedroom 15, Bedroom 28, Bedroom 31, Bathroom 1, Bathroom 13, Bathroom 20
Parking features
Covered, Carport
Exterior features
Wood
High school district
Fresno Unified
Directions
Kings Canyon to Maple (North) to property
Subdivision
702
Standard status
Active
APN
46122133
Size
17,280 SF
Lot size
0.78 Acres
Amenities
central heat and cooling
on-site common laundry facility
Building Details
Year built
1981
Floors in Building
2
Number of units
20
Roof type
Composition
Listing Agency:
Century 21 Cheney Enterprises · Century 21 Real Estate
(559) 875-7521
Listed By:
Gregory Cheney · License #01711619
(559) 970-8505
Added: Aug 10
Changed: Sep 19
Last Checked: Sep 20 at 11:06AM
MLS# 653462
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.
Located at 425 S Maple Avenue in Fresno, this 20-unit apartment property contains 17,280 square feet on a 0.781-acre site. The complex was built in 1981 and includes a unit mix led by 2-bedroom, 1-bath residences, with several 3-bedroom units also present. All units are currently occupied, and the property is described as income-producing.
Central heat and cooling serve the apartments, while a common laundry area provides an on-site resident amenity. Property improvements include wood exterior construction, a composition roof, and covered carport parking. The asset is located in Fresno, CA 93702.
Central heat and cooling serve the apartments, while a common laundry area provides an on-site resident amenity. Property improvements include wood exterior construction, a composition roof, and covered carport parking. The asset is located in Fresno, CA 93702.
Key Highlights
- 20 units totaling 17,280 square feet on 0.781 acres
- 100% occupied across 20 apartment units
- Unit mix primarily includes 2‑bedroom, 1‑bath residences plus several 3‑bedroom units
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
$203,261
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
7.82%
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%
$4,065,220
$4.1M
Cap Rate 7%
$2,903,729
$2.9M
Cap Rate 9%
$2,258,456
$2.3M
Market Conditions
NOI Build-Up for 17,280 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
$389.8K $22.56/SF
− Vacancy
−$20.3K −$1.17/SF
EGI
$369.6K $21.39/SF
− OpEx
−$166.3K −$9.62/SF
NOI
$203.3K $11.76/SF
Area
ZIP 93702
Vacancy
5.20%
Lease Rate
$22.56 /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%
$4,065,220
Cap Rate 7%
$2,903,729
Cap Rate 9%
$2,258,456
Alternative Uses
Best Use
Apartment 5plus
$2.90M
$2.54M – $3.39M
NOI $203,261 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.22M
$3.69M – $4.92M
NOI $295,181 @ 7.0% cap · market cap 11.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
20
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
Explore this area
Business Placement
Demographics for 93702, CA
45,741
Population
13,386
Households
3.4
Avg Household Size
29
Median Age
9%
College-Educated
57%
High-School Grad
5.2 sq mi
ZIP Area
8,796
Density / Sq Mi
$44,849
Median Household Income
$27,486
Median Earnings
$1,110
Median Rent
$211,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Fully occupied Fresno property with central heating and cooling, shared laundry, covered carport parking, and a two- and three-bedroom mix.
Where is this apartment building located?
The property is located at 425 S Maple Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: 20 units totaling 17,280 square feet on 0.781 acres; 100% occupied across 20 apartment units; Unit mix primarily includes 2‑bedroom, 1‑bath residences plus several 3‑bedroom units
