Residential Triplex
For Sale
Under Contract
$349,900
129 N Park Avenue, Fresno, CA 93701
MULTI_FAMILY - Fresno, CA
Property Size2,200 SF
Lot Size0.15 Acres
Price / SF$159.05
Days on Market95
Property Features for 129 N Park Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
RS5
Fencing
Fenced
Directions
EB Divisadero St, make a left on N. Park Ave. Drive one block, the home will be the 4th home on the left.
Subdivision
Fresno
Standard status
Active Under Contract
APN
45931210
Size
2,200 SF
Lot size
0.15 Acres
Utilities
Sewer type
Public Sewer
Water source
Public
Building Details
Floors in Building
1
Roof type
Composition
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Added: May 6
Changed: Jul 24
Last Checked: Aug 8 at 10:06PM
MLS# 234164
Copyright © 2026 Kings County Board 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 residential triplex includes a detached front home with three bedrooms and one bathroom, along with two back units, each featuring one bedroom and one bathroom. The property is configured as three separate dwelling spaces within a single investment offering.
The home is located in Central Fresno and provides convenient access to Downtown Fresno, Highway 99, and Fresno City College. The property is in an established rental market.
Zoning is RS5. The site totals about 0.1452 acres and includes multiple units with separate yard spaces.
The home is located in Central Fresno and provides convenient access to Downtown Fresno, Highway 99, and Fresno City College. The property is in an established rental market.
Zoning is RS5. The site totals about 0.1452 acres and includes multiple units with separate yard spaces.
Key Highlights
- Triplex property with strong income potential
- Detached front home with 3 bedrooms and 1 bathroom (approx. 1,320 sf)
- Two additional 1‑bedroom, 1‑bathroom units (approx. 440 sf each)
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
$28,815
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
8.24%
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%
$576,300
$576.3K
Cap Rate 7%
$411,643
$411.6K
Cap Rate 9%
$320,167
$320.2K
Market Conditions
NOI Build-Up for 2,200 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
$43.6K $19.80/SF
− Vacancy
−$2.4K −$1.09/SF
EGI
$41.2K $18.71/SF
− OpEx
−$12.3K −$5.61/SF
NOI
$28.8K $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%
$576,300
Cap Rate 7%
$411,643
Cap Rate 9%
$320,167
Alternative Uses
Best Use
Multifamily LT 5
$411.6K
$360.2K – $480.3K
NOI $28,815 @ 7.0% cap · market cap 8.24%
Second Best
Apartment 5plus
$360.6K
$315.5K – $420.7K
NOI $25,243 @ 7.0% cap · market cap 7.21%
Theoretical Best
Office A
$648.3K
$567.3K – $756.4K
NOI $45,382 @ 7.0% cap · market cap 12.97%
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
1,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 93701, CA
12,037
Population
3,836
Households
3.1
Avg Household Size
28
Median Age
7%
College-Educated
48%
High-School Grad
1.5 sq mi
ZIP Area
8,025
Density / Sq Mi
$32,192
Median Household Income
$26,875
Median Earnings
$926
Median Rent
$207,600
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?
Triplex - Triplex with a detached 3 bed/1 bath front home and two 1 bed/1 bath back units.
Where is this triplex located?
The property is located at 129 N Park Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $349,900.
What are key features of this property?
This property features: Triplex property with **strong income potential**; Detached front home with **3 bedrooms and 1 bathroom (approx. 1,320 sf)**; Two additional 1‑bedroom, 1‑bathroom units (approx. 440 sf each)
