Triplex with Carport
For Sale
$540,000
1250 E Vassar Avenue, Fresno, CA 93704
MULTI_FAMILY - Fresno, CA
Property Size2,252 SF
Lot Size0.14 Acres
Price / SF$239.79
Days on Market12
Property Features for 1250 E Vassar Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 3, Bedroom 5, Bedroom 4, Bedroom 2, Bedroom 1, Bedroom 6, Bathroom 2, Bathroom 3, Bathroom 1, Bedroom 7
Parking features
Carport
Exterior features
Stucco
High school district
Fresno Unified
Directions
N Blackstone Ave & E Clinton Ave Fresno, CA 93703 Head south on N Blackstone Ave toward E Vassar Ave 338 ft Turn right onto E Vassar Ave Destination will be on the left 0.3 mi 1250 E Vassar Ave Fresno, CA 93704
Subdivision
704
Standard status
Active
APN
44408603
Size
2,252 SF
Lot size
0.14 Acres
Amenities
central air conditioning
basement
Building Details
Year built
1980
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
HomeSmart PV and Associates · HomeSmart International
(559) 473-2555
Listed By:
Puneet Bhargava
(209) 602-6147
Added: Jul 29
Changed: Aug 8
Last Checked: Aug 9 at 12:06AM
MLS# 653027
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 triplex offers three units on one lot with a straightforward layout for resident management. The front duplex includes two identical 2-bedroom, 1-bath units, each approximately 672 square feet. A detached rear single-family residence provides a 3-bedroom, 1-bath home with approximately 1,184 square feet of living space, plus a large basement that is currently covered.
The property totals about 2,252 square feet on a 0.1435-acre lot. Built in 1980, it features a stucco exterior, a composition roof, and carport parking. All units have central air conditioning, and there are separate electrical meters.
Located at 1250 E Vassar Avenue in Fresno (93704), the property is described as having easy access to Hwy 41 and being close to shopping, dining, and amenities along Blackstone Avenue. Showings are by appointment only.
The property totals about 2,252 square feet on a 0.1435-acre lot. Built in 1980, it features a stucco exterior, a composition roof, and carport parking. All units have central air conditioning, and there are separate electrical meters.
Located at 1250 E Vassar Avenue in Fresno (93704), the property is described as having easy access to Hwy 41 and being close to shopping, dining, and amenities along Blackstone Avenue. Showings are by appointment only.
Key Highlights
- Three‑unit setup: front duplex of two 2BR/1BA units plus a detached rear 3BR/1BA home
- Front duplex units each approximately 672 SF; rear detached residence approximately 1,184 SF
- All units feature central air conditioning
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
Yes
Highway access
Yes
Utilities to site
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 - Triplex with three separate living units, central air conditioning, and carport parking on a 1980-built stucco exterior.
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: Three‑unit setup: front duplex of two 2BR/1BA units plus a detached rear 3BR/1BA home; Front duplex units each approximately 672 SF; rear detached residence approximately 1,184 SF; All units feature central air conditioning
