Duplex Residential Income
1169 Cherry Lane Lemoore, CA 93245
1169 Cherry Lane, Lemoore, CA, 93245
$475,000
Pending
For Sale
$475,000
Pending
MULTI_FAMILY - Lemoore, CA
Property Size2,852 SF
Lot Size0.13 Acres
Days on Market49
Property Features for 1169 Cherry Lane
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Parking features
- Garage
- Fireplace
- 1
- Standard status
- Pending
- APN
- 023290017000
- Size
- 2,852 SF
- Lot size
- 0.13 Acres
Utilities
- Sewer type
- Public Sewer
- Heating system
- Central
- Water source
- Public
Building Details
- Floors in Building
- 2
Listing agency
Hoekstra & Associates Inc
Listed by
Jaime Martinez
(310) 849-1528
Added: Jun 3 Updated: Jul 10 at 5:59PM Checked: Jul 21 at 5:06PM
MLS# 234361
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.
1169 Cherry Lane is a duplex property built in 1985 featuring two oversized residential units. Each unit offers a 3-bedroom, 2.5-bath layout with approximately 1,426 square feet per unit. Both units are currently occupied on month-to-month tenancies. The seller will not deliver vacant, and the property is being sold as-is.
The property is located in Lemoore, California, in Kings County. It is minutes from Highway 198 and offers about a 10-minute commute to Naval Air Station Lemoore (NAS).
This setup can suit investors seeking an income-producing duplex with tenants already in place, as well as owner-occupants looking to live in one unit while renting the other, with the listing noting FHA eligibility. Access for showings requires coordination since occupants are present, and prospective buyers should plan to review the units without disturbing current residents.
The property is located in Lemoore, California, in Kings County. It is minutes from Highway 198 and offers about a 10-minute commute to Naval Air Station Lemoore (NAS).
This setup can suit investors seeking an income-producing duplex with tenants already in place, as well as owner-occupants looking to live in one unit while renting the other, with the listing noting FHA eligibility. Access for showings requires coordination since occupants are present, and prospective buyers should plan to review the units without disturbing current residents.
Key Highlights
- Duplex built in 1985 with two 3‑bedroom, 2.5‑bath oversized units
- Approximately 1,426 sqft per unit (2 units total)
- Both units are occupied on month‑to‑month tenancies
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $52.4k | $18.36 |
| − Vacancy | −$2.4k | −$0.84 |
| EGI | $50.0k | $17.52 |
| − OpEx | −$15.0k | −$5.26 |
| NOI | $35.0k | $12.27 |
2,852 SF · lease $18.36/SF/yr · vacancy 4.56% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$499.7K
$437.3K – $583.0K
NOI $34,982 @ 7.0% cap · market cap 7.36%
Second Best
Apartment 5plus
$445.4K
$389.8K – $519.7K
NOI $31,180 @ 7.0% cap · market cap 6.56%
Theoretical Best
Healthcare Medical
$901.1K
$788.4K – $1.05M
NOI $63,074 @ 7.0% cap · market cap 13.28%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Duplex built in 1985 with two occupied oversized units, offering steady month-to-month tenancies and 3-bedroom layouts.
Where is this duplex located?
The property is located at 1169 Cherry Lane Lemoore, CA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Duplex built in 1985 with two 3‑bedroom, 2.5‑bath oversized units; Approximately 1,426 sqft per unit (2 units total); Both units are occupied on month‑to‑month tenancies
