Fourplex with Private
New
For Sale
$615,000
128 Park Street, Madera, CA 93637
Multi Family, Madera, CA
Property Size2,952 SF
Lot Size0.15 Acres
Price / SF$208.33
Days on Market3
Property Features for 128 Park Street
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 3, Bedroom 5, Bedroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 2, Bedroom 8, Bedroom 1, Bedroom 7
Parking features
Carport
Exterior features
Wood
High school district
Madera Unified
Directions
S Pine street to Oak st to left on Park street.
Subdivision
637
Standard status
Active
APN
012013015000
Size
2,952 SF
Lot size
0.15 Acres
Amenities
private patios
carport parking
on-site laundry
Building Details
Year built
1978
Floors in Building
1
Number of units
4
Roof type
Composition
Listing Agency:
Miracle Realty
Listed By:
Diana Miracle
(559) 674-0091
Added: Sep 24
Changed: Sep 26
Last Checked: Sep 26 at 5:06PM
MLS# 655815
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 1978-built fourplex contains four two-bedroom, one-bath units, totaling 8 bedrooms and 4 bathrooms across 2,952 square feet. Each residence has a private patio, and the property includes carport parking and on-site laundry. One unit has been remodeled. The exterior is wood, with a composition roof, on a 0.15-acre lot.
The property is located at 128 Park Street in Madera, California. Nearby shopping, dining, schools, and everyday amenities are noted in the property information.
The property is located at 128 Park Street in Madera, California. Nearby shopping, dining, schools, and everyday amenities are noted in the property information.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 2,952 square feet of building area on a 0.15‑acre lot
- Private patio for each unit
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
$32,535
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
5.29%
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%
$650,700
$650.7K
Cap Rate 7%
$464,786
$464.8K
Cap Rate 9%
$361,500
$361.5K
Market Conditions
NOI Build-Up for 2,952 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
$50.3K $17.04/SF
− Vacancy
−$3.8K −$1.30/SF
EGI
$46.5K $15.74/SF
− OpEx
−$13.9K −$4.72/SF
NOI
$32.5K $11.02/SF
Area
Madera County, CA
Vacancy
7.60%
Lease Rate
$17.04 /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%
$650,700
Cap Rate 7%
$464,786
Cap Rate 9%
$361,500
Alternative Uses
Best Use
Multifamily LT 5
$464.8K
$406.7K – $542.3K
NOI $32,535 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$430.2K
$376.4K – $501.9K
NOI $30,113 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$1.14M
$999.6K – $1.33M
NOI $79,968 @ 7.0% cap · market cap 13.00%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
682
Businesses Nearby
Explore this area
Business Placement
Demographics for 93637, CA
40,202
Population
12,918
Households
3.1
Avg Household Size
32
Median Age
13%
College-Educated
70%
High-School Grad
280.4 sq mi
ZIP Area
143
Density / Sq Mi
$74,621
Median Household Income
$36,057
Median Earnings
$1,345
Median Rent
$369,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom residences include carport parking and shared on-site laundry.
Where is this quadplex located?
The property is located at 128 Park Street Madera, CA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 2,952 square feet of building area on a 0.15‑acre lot; Private patio for each unit
