Two-Structure Multifamily
For Sale
$180,000
128 E Mariposa Street, Avenal, CA 93204
Two residences occupy one lot, including a two-bedroom home and a manufactured home.
Property Size725 SF
Days on Market200
Property Features for 128 E Mariposa Street
General Information
Standard status
Active
Size
725 SF
Property subtype
Multi-Family
Property Condition
Severity
Repairs Needed
Evidence
may need TLC
Additional Details
Multifamily Units
2
Amenities
Gas Range/Oven
Composition
Building Details
Building Size
725 SF
Year Built
1936
Buildings
2
Stories
1
Listing Agency:
Lemoore Real Estate
(559) 997-3270
Listed By:
Patricia Ruiz
(559) 997-3270
Source:
Kw
Added: Feb 11
Changed: Aug 29
Last Checked: Aug 29 at 4:42PM
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 Lemoore Real Estate
Investment Insights
Based on property information with market context.
This multifamily property includes two separate structures on one lot. The improvements consist of a small two-bedroom residence and a manufactured home, providing a two-residence configuration for an owner or investor. Interior features include a gas range/oven, while composition siding is listed among the exterior features. The property was built in 1936 and is located at 128 E Mariposa Street in Avenal, California.
Key Highlights
- Two structures situated on one lot
- Small two‑bedroom residence
- Manufactured home included
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
$7,926
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
4.40%
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%
$158,520
$158.5K
Cap Rate 7%
$113,229
$113.2K
Cap Rate 9%
$88,067
$88.1K
Market Conditions
NOI Build-Up for 725 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
$15.1K $20.88/SF
− Vacancy
−$727 −$1.00/SF
EGI
$14.4K $19.88/SF
− OpEx
−$6.5K −$8.94/SF
NOI
$7.9K $10.93/SF
Area
Kings County, CA
Vacancy
4.80%
Lease Rate
$20.88 /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%
$158,520
Cap Rate 7%
$113,229
Cap Rate 9%
$88,067
Alternative Uses
Best Use
Apartment 5plus
$113.2K
$99.1K – $132.1K
NOI $7,926 @ 7.0% cap · market cap 4.40%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$229.1K
$200.4K – $267.2K
NOI $16,034 @ 7.0% cap · market cap 8.91%
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
250
Businesses Nearby
Explore this area
Business Placement
Demographics for 93204, CA
13,720
Population
3,085
Households
4.4
Avg Household Size
35
Median Age
4%
College-Educated
51%
High-School Grad
70.6 sq mi
ZIP Area
194
Density / Sq Mi
$52,986
Median Household Income
$30,199
Median Earnings
$1,060
Median Rent
$224,800
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?
Multifamily property - Two residences occupy one lot, including a two-bedroom home and a manufactured home.
Where is this multifamily property located?
The property is located at 128 E Mariposa Street Avenal, CA.
What is the asking price?
The asking price for this property is $180,000.
What are key features of this property?
This property features: Two structures situated on one lot; Small two‑bedroom residence; Manufactured home included
