Renovated Duplex with
New
For Sale
$430,000
1135 E Fedora Avenue, Fresno, CA 93704
Multi Family, Fresno, CA
Property Size1,581 SF
Lot Size0.16 Acres
Price / SF$271.98
Days on Market2
Property Features for 1135 E Fedora Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 5, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 2, Bathroom 3, Bathroom 2, Bedroom 3
Parking features
Covered
Exterior features
Stucco
High school district
Fresno Unified
Directions
From Blackstone go west on Dakota, south of College and east on Fedora to property.
Subdivision
704
Standard status
Active
APN
43516221
Size
1,581 SF
Lot size
0.16 Acres
Amenities
separate private pedestrian entry
newer fencing
Building Details
Year built
1935
Floors in Building
1
Number of units
2
Roof type
Composition
Listing Agency:
Realty Concepts, Ltd. - Fresno
(559) 490-1500
Listed By:
Gregory Kosareff · License #01195078
(559) 960-5628
Added: Sep 2
Last Checked: Sep 3 at 12:06AM
MLS# 654620
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 duplex property includes two houses on a 0.155-acre lot, with each residence assigned its own address and electrical meter. The rear ADU was completed in 10/2024 and has a separate pedestrian entrance along the west side. Covered parking, newer privacy fencing, stucco exterior construction, and a composition roof are also included.
The front home received renovations in 2024, including interior and exterior paint, kitchen cabinetry, granite countertops, a stainless steel sink, bathroom fixtures, and updated shower and tub enclosures. The property contains 1,581 square feet and was built in 1935. Its five bedrooms and three bathrooms provide a multi-residential configuration across the two structures.
The front home received renovations in 2024, including interior and exterior paint, kitchen cabinetry, granite countertops, a stainless steel sink, bathroom fixtures, and updated shower and tub enclosures. The property contains 1,581 square feet and was built in 1935. Its five bedrooms and three bathrooms provide a multi-residential configuration across the two structures.
Key Highlights
- Rear ADU completed in 10/2024
- Two houses on a 0.155‑acre lot with separate addresses and electrical meters
- Front home renovated in 2024 with updated paint, kitchen, and bathrooms
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
$20,707
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
4.82%
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%
$414,140
$414.1K
Cap Rate 7%
$295,814
$295.8K
Cap Rate 9%
$230,078
$230.1K
Market Conditions
NOI Build-Up for 1,581 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
$31.3K $19.80/SF
− Vacancy
−$1.7K −$1.09/SF
EGI
$29.6K $18.71/SF
− OpEx
−$8.9K −$5.61/SF
NOI
$20.7K $13.10/SF
Area
Fresno, CA
Vacancy
5.50%
Lease Rate
$19.80 /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%
$414,140
Cap Rate 7%
$295,814
Cap Rate 9%
$230,078
Alternative Uses
Best Use
Multifamily LT 5
$295.8K
$258.8K – $345.1K
NOI $20,707 @ 7.0% cap · market cap 4.82%
Second Best
Apartment 5plus
$259.2K
$226.8K – $302.4K
NOI $18,141 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$465.9K
$407.7K – $543.6K
NOI $32,613 @ 7.0% cap · market cap 7.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,023
Businesses Nearby
Explore this area
Business Placement
Demographics for 93704, CA
28,573
Population
12,165
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
5,291
Density / Sq Mi
$69,659
Median Household Income
$45,965
Median Earnings
$1,392
Median Rent
$366,000
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Duplex - Two homes share one lot, with separate addresses, electrical meters, and a private pedestrian entry for the rear unit.
Where is this duplex located?
The property is located at 1135 E Fedora Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $430,000.
What are key features of this property?
This property features: Rear ADU completed in 10/2024; Two houses on a 0.155‑acre lot with separate addresses and electrical meters; Front home renovated in 2024 with updated paint, kitchen, and bathrooms
