Two-Story Multifamily
New
For Sale
$799,000
108 North Q Street, Madera, CA 93637
Established residential income property with R3 zoning and a central setting near everyday services and transportation routes.
Property Size2,784 SF
Lot Size0.17 Acres
Price / SF$286
Days on Market2
Property Features for 108 North Q Street
General Information
Standard status
Active
Size
2,784 SF
Lot size
0.17 Acres
Property subtype
Multi-Family
Zoning
R3
Building Details
Building Size
2,784 SF
Year Built
1968
Stories
2
Listing Agency:
RE/MAX
Listed By:
Kirk Atamian · License #2127378
(559) 246-0000
Source:
Remaxcommercial
Added: Sep 11
Last Checked: Sep 12 at 3:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX
Investment Insights
Based on property information with market context.
This two-story multifamily property was built in 1968 and includes approximately 2,784 square feet of building area on a roughly 7,405-square-foot lot. County records identify the asset as multifamily, while R3 residential zoning supports its existing higher-density residential character.
Located in central Madera, the property offers access to schools, shopping, services, employment areas, and major transportation routes. The combination of an established building, multifamily classification, and residential zoning provides a straightforward format for evaluating a rental housing asset.
Located in central Madera, the property offers access to schools, shopping, services, employment areas, and major transportation routes. The combination of an established building, multifamily classification, and residential zoning provides a straightforward format for evaluating a rental housing asset.
Key Highlights
- Two‑story multifamily property built in 1968
- Approximately 2,784 square feet of building area
- Roughly 7,405‑square‑foot lot
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
$28,399
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
3.55%
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%
$567,980
$568.0K
Cap Rate 7%
$405,700
$405.7K
Cap Rate 9%
$315,544
$315.5K
Market Conditions
NOI Build-Up for 2,784 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
$56.1K $20.16/SF
− Vacancy
−$4.5K −$1.61/SF
EGI
$51.6K $18.55/SF
− OpEx
−$23.2K −$8.35/SF
NOI
$28.4K $10.20/SF
Area
Madera County, CA
Vacancy
8.00%
Lease Rate
$20.16 /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%
$567,980
Cap Rate 7%
$405,700
Cap Rate 9%
$315,544
Alternative Uses
Best Use
Apartment 5plus
$405.7K
$355.0K – $473.3K
NOI $28,399 @ 7.0% cap · market cap 3.55%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.08M
$942.7K – $1.26M
NOI $75,417 @ 7.0% cap · market cap 9.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 93637, CA
40,202
Population
12,918
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
70%
High-School Grad
280.4 sq mi
ZIP Area
143
Density / Sq Mi
$74,621
Median Household Income
$36,057
Median Earnings
$1,345
Median Rent
$369,200
Median Home Value
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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?
Multifamily property - Established residential income property with R3 zoning and a central setting near everyday services and transportation routes.
Where is this multifamily property located?
The property is located at 108 North Q Street Madera, CA.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: Two‑story multifamily property built in 1968; Approximately 2,784 square feet of building area; Roughly 7,405‑square‑foot lot
