Renovated Multifamily
For Sale
$709,900
1205 F Street, Reedley, CA 93654
Updated apartments feature private patios, in-unit laundry hookups, storage rooms, and designated carport parking.
Property Size2,464 SF
Price / SF$288.11
Days on Market54
Property Features for 1205 F Street
General Information
Standard status
Active
Size
2,464 SF
Property subtype
Multi Family
Additional Details
Average Monthly Rent
$1,500
Utilities to Site
Yes
Amenities
private laundry hook ups
storage rooms
carport parking spaces
private patios
individual meters for electricity and gas
solar panels
artificial turf
Building Details
Year Built
1961
Listing Agency:
Newton Sano Inc
(559) 859-6503
Listed By:
Jill N. Sano · License #DRE #01906275
(559) 859-6503
Source:
Exitrealty
Added: Jul 9
Changed: Aug 30
Last Checked: Aug 19 at 5:01AM
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 Newton Sano Inc
Investment Insights
Based on property information with market context.
This multifamily property includes 2,464 square feet of apartment space and was built in 1961. Recent renovations add to the existing configuration, with each apartment offering private laundry hookups, a storage room, a patio, and carport parking. Individual electric and gas meters serve the apartments, while the property owner pays the city water and trash expenses for the building.
The property also includes fully paid solar panels and newer artificial turf, which supports lower water usage. Located at 1205 F Street in Reedley, California, the complex combines separately metered utilities with resident-oriented outdoor and storage features.
The property also includes fully paid solar panels and newer artificial turf, which supports lower water usage. Located at 1205 F Street in Reedley, California, the complex combines separately metered utilities with resident-oriented outdoor and storage features.
Key Highlights
- 2,464‑square‑foot multifamily property built in 1961
- Recent renovations completed
- Private laundry hookups, storage rooms, patios, and carport parking for each apartment
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
$31,159
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
4.39%
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%
$623,180
$623.2K
Cap Rate 7%
$445,129
$445.1K
Cap Rate 9%
$346,211
$346.2K
Market Conditions
NOI Build-Up for 2,464 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
$59.1K $24.00/SF
− Vacancy
−$2.5K −$1.01/SF
EGI
$56.7K $22.99/SF
− OpEx
−$25.5K −$10.35/SF
NOI
$31.2K $12.65/SF
Area
Fresno County, CA
Vacancy
4.20%
Lease Rate
$24.00 /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%
$623,180
Cap Rate 7%
$445,129
Cap Rate 9%
$346,211
Alternative Uses
Best Use
Apartment 5plus
$445.1K
$389.5K – $519.3K
NOI $31,159 @ 7.0% cap · market cap 4.39%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$698.4K
$611.1K – $814.8K
NOI $48,885 @ 7.0% cap · market cap 6.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
952
Businesses Nearby
Explore this area
Business Placement
Demographics for 93654, CA
30,620
Population
9,505
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
71%
High-School Grad
100.5 sq mi
ZIP Area
305
Density / Sq Mi
$67,471
Median Household Income
$31,281
Median Earnings
$1,198
Median Rent
$334,500
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?
Multifamily property - Updated apartments feature private patios, in-unit laundry hookups, storage rooms, and designated carport parking.
Where is this multifamily property located?
The property is located at 1205 F Street Reedley, CA.
What is the asking price?
The asking price for this property is $709,900.
What are key features of this property?
This property features: 2,464‑square‑foot multifamily property built in 1961; Recent renovations completed; Private laundry hookups, storage rooms, patios, and carport parking for each apartment
