Triplex with Separate
For Sale
$540,000
Pending
1250 E Vassar Avenue, Fresno, CA 93704
Three rental homes on one lot with central A/C and separate electrical meters for streamlined operations.
Property Size2,252 SF
Lot Size0.14 Acres
Days on Market218
Property Features for 1250 E Vassar Avenue
General Information
Standard status
Pending
Size
2,252 SF
Lot size
0.14 Acres
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1980
Listing Agency:
HomeSmart PV and Associates
(559) 274-7025
Listed By:
Puneet Bhargava · License #01859500
(559) 274-7025
Source:
Exitrealty
Added: Jan 6
Changed: Aug 8
Last Checked: Aug 12 at 5:53AM
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 HomeSmart PV and Associates
Investment Insights
Based on property information with market context.
This triplex consists of two identical 2-bedroom, 1-bath units in the front duplex, plus a detached rear single-family residence with 3 bedrooms and 1 bath. All units include central air conditioning. The property also has separate electrical meters, supporting an easy-to-manage setup. One of the units features a large basement, which is currently covered.
The three units are located on one APN and share a single lot. The site offers easy access to Hwy 41, and it is close to shopping, dining, and amenities along Blackstone Avenue. Showings are by appointment only and tenants should not be disturbed.
With separate utility metering and three distinct living spaces, the property can fit investors seeking manageable multi-unit income, as well as owner-occupants who may prefer residential flexibility. Current rents are reported as $1,200/month for Unit A (2Bd/1Ba), $1,509/month for Unit B (2Bd/1Ba), and $1,745/month for the rear house (3Bd/1Ba), for total gross actual rent of $4,454 per month and an annual gross rent of $53,448.
The three units are located on one APN and share a single lot. The site offers easy access to Hwy 41, and it is close to shopping, dining, and amenities along Blackstone Avenue. Showings are by appointment only and tenants should not be disturbed.
With separate utility metering and three distinct living spaces, the property can fit investors seeking manageable multi-unit income, as well as owner-occupants who may prefer residential flexibility. Current rents are reported as $1,200/month for Unit A (2Bd/1Ba), $1,509/month for Unit B (2Bd/1Ba), and $1,745/month for the rear house (3Bd/1Ba), for total gross actual rent of $4,454 per month and an annual gross rent of $53,448.
Key Highlights
- Triplex on one lot (6,250 sq ft) with three separate units on one APN
- Front duplex: two identical 2 bed/1 bath units, each approximately 672 sq ft
- Rear detached home: 3 bed/1 bath with approximately 1,184 sq ft plus a large basement
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
$29,496
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
5.46%
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%
$589,920
$589.9K
Cap Rate 7%
$421,371
$421.4K
Cap Rate 9%
$327,733
$327.7K
Market Conditions
NOI Build-Up for 2,252 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
$44.6K $19.80/SF
− Vacancy
−$2.5K −$1.09/SF
EGI
$42.1K $18.71/SF
− OpEx
−$12.6K −$5.61/SF
NOI
$29.5K $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%
$589,920
Cap Rate 7%
$421,371
Cap Rate 9%
$327,733
Alternative Uses
Best Use
Multifamily LT 5
$421.4K
$368.7K – $491.6K
NOI $29,496 @ 7.0% cap · market cap 5.46%
Second Best
Apartment 5plus
$369.1K
$323.0K – $430.7K
NOI $25,840 @ 7.0% cap · market cap 4.79%
Theoretical Best
Office A
$663.6K
$580.7K – $774.2K
NOI $46,454 @ 7.0% cap · market cap 8.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
635
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
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Frequently Asked Questions
What type of property is this?
Triplex - Three rental homes on one lot with central A/C and separate electrical meters for streamlined operations.
Where is this triplex located?
The property is located at 1250 E Vassar Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $540,000.
What are key features of this property?
This property features: Triplex on one lot (6,250 sq ft) with three separate units on one APN; Front duplex: two identical 2 bed/1 bath units, each approximately 672 sq ft; Rear detached home: 3 bed/1 bath with approximately 1,184 sq ft plus a large basement
