Triplex with Two-Car Access
For Sale
$565,000
110 E 2nd Street, Hanford, CA 93230
MULTI_FAMILY - Hanford, CA
Property Size3,131 SF
Lot Size0.17 Acres
Price / SF$180.45
Days on Market92
Property Features for 110 E 2nd Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RM3
Parking features
Open
Fencing
Fenced, Wood
Directions
East on third street turn right on Douty left on 2nd
Subdivision
South East Hanford
Standard status
Active
APN
012125019000
Size
3,131 SF
Lot size
0.17 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Amenities
laundry hookups
Building Details
Floors in Building
1
Roof type
Composition
Listing Agency:
Hoekstra & Associates Inc
Listed By:
Jaime Martinez
(310) 849-1528
Added: Jun 2
Changed: Aug 5
Last Checked: Sep 1 at 8:06AM
MLS# 234353
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 Hanford triplex is offered for sale and sits on a single parcel with three full-size units. The front home is a 3-bedroom, 2-bath residence facing E 2nd Street. The rear building includes two additional 3-bedroom, 2-bath units, each with its own access from the alley. Recent upgrades include a new roof and new windows, and all units have laundry hookups.
The property is zoned RM3. Water service is public and sewer is public sewer, supporting day-to-day residential use. The site includes open parking and wood fencing with fenced perimeter coverage.
Composed of a front house plus a rear building with separate alley access for the two back units, this setup provides straightforward tenant separation and practical turn-over flow for a small multifamily owner.
The property is zoned RM3. Water service is public and sewer is public sewer, supporting day-to-day residential use. The site includes open parking and wood fencing with fenced perimeter coverage.
Composed of a front house plus a rear building with separate alley access for the two back units, this setup provides straightforward tenant separation and practical turn-over flow for a small multifamily owner.
Key Highlights
- Single‑parcel triplex with three full‑size units
- Front unit: 3 bed, 2 bath facing E 2nd Street
- Rear building: two 3 bed, 2 bath units with alley access
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
$38,405
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
6.80%
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%
$768,100
$768.1K
Cap Rate 7%
$548,643
$548.6K
Cap Rate 9%
$426,722
$426.7K
Market Conditions
NOI Build-Up for 3,131 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
$57.5K $18.36/SF
− Vacancy
−$2.6K −$0.84/SF
EGI
$54.9K $17.52/SF
− OpEx
−$16.5K −$5.26/SF
NOI
$38.4K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$768,100
Cap Rate 7%
$548,643
Cap Rate 9%
$426,722
Alternative Uses
Best Use
Multifamily LT 5
$548.6K
$480.1K – $640.1K
NOI $38,405 @ 7.0% cap · market cap 6.80%
Second Best
Apartment 5plus
$489.0K
$427.9K – $570.5K
NOI $34,230 @ 7.0% cap · market cap 6.06%
Theoretical Best
Healthcare Medical
$989.2K
$865.6K – $1.15M
NOI $69,245 @ 7.0% cap · market cap 12.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,165
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
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 - Hanford RM3 triplex on a single parcel with three full-size units and recent roof and window upgrades.
Where is this triplex located?
The property is located at 110 E 2nd Street Hanford, CA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Single‑parcel triplex with three full‑size units; Front unit: 3 bed, 2 bath facing E 2nd Street; Rear building: two 3 bed, 2 bath units with alley access
