Updated Four-Unit
For Sale
$629,900
1405 E Cypress Avenue, Reedley, CA 93654
MULTI_FAMILY - Reedley, CA
Property Size3,144 SF
Lot Size0.08 Acres
Price / SF$200.35
Days on Market102
Property Features for 1405 E Cypress Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R16
Parking features
Carport
Directions
From CA-99, take the Manning Ave exit and head east toward Reedley. Continue on Manning Ave, turn left onto N Pecan Ave, then right onto E Ponderosa Ave. Continue to E Cypress Ave. Property will be on the right.
Subdivision
Reedley
Standard status
Active
APN
36346003
Size
3,144 SF
Lot size
0.08 Acres
Utilities
Sewer type
Public Sewer
Heating system
Central
Water source
Public
Amenities
central HVAC
indoor laundry
Building Details
Floors in Building
1
Flooring type
Lvt
Listing Agency:
eXp Realty of Greater Los Angeles, Inc.
(888) 652-1314
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Added: Apr 30
Changed: Aug 3
Last Checked: Aug 9 at 5:06AM
MLS# 234133
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.
Located at 1405 E Cypress Avenue in Reedley, this quadplex contains four two-bedroom, one-bath residences totaling approximately 3,144 square feet. Three units have updated kitchens, bathrooms, and LVP flooring, while another offers established long-term tenancy. Each residence includes central HVAC and indoor laundry, with carport parking serving the property.
The property is positioned near schools, shopping, and commuter routes. Public water and public sewer serve the site. The four-unit configuration and existing occupancy provide a clearly defined multifamily asset, with unit details based on tax records and subject to buyer verification.
The property is positioned near schools, shopping, and commuter routes. Public water and public sewer serve the site. The four-unit configuration and existing occupancy provide a clearly defined multifamily asset, with unit details based on tax records and subject to buyer verification.
Key Highlights
- Four 2‑bedroom, 1‑bath units totaling approximately 3,144 square feet
- Fully occupied fourplex with one unit offering long‑term tenancy
- Three units updated with kitchens, bathrooms, and LVP flooring
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
$41,617
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
6.61%
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%
$832,340
$832.3K
Cap Rate 7%
$594,529
$594.5K
Cap Rate 9%
$462,411
$462.4K
Market Conditions
NOI Build-Up for 3,144 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
$63.4K $20.16/SF
− Vacancy
−$3.9K −$1.25/SF
EGI
$59.5K $18.91/SF
− OpEx
−$17.8K −$5.67/SF
NOI
$41.6K $13.24/SF
Area
Fresno County, CA
Vacancy
6.20%
Lease Rate
$20.16 /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%
$832,340
Cap Rate 7%
$594,529
Cap Rate 9%
$462,411
Alternative Uses
Best Use
Multifamily LT 5
$594.5K
$520.2K – $693.6K
NOI $41,617 @ 7.0% cap · market cap 6.61%
Second Best
Apartment 5plus
$568.0K
$497.0K – $662.6K
NOI $39,758 @ 7.0% cap · market cap 6.31%
Theoretical Best
Office A
$891.1K
$779.7K – $1.04M
NOI $62,376 @ 7.0% cap · market cap 9.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
302
Businesses Nearby
Explore this area
Business Placement
Demographics for 93654, CA
30,620
Population
9,505
Households
3.2
Avg Household Size
34
Median Age
17%
College-Educated
71%
High-School Grad
100.5 sq mi
ZIP Area
305
Density / Sq Mi
$67,471
Median Household Income
$31,281
Median Earnings
$1,198
Median Rent
$334,500
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?
Quadplex - Fully occupied residences feature central HVAC, indoor laundry, and carport parking.
Where is this quadplex located?
The property is located at 1405 E Cypress Avenue Reedley, CA.
What is the asking price?
The asking price for this property is $629,900.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units totaling approximately 3,144 square feet; Fully occupied fourplex with one unit offering long‑term tenancy; Three units updated with kitchens, bathrooms, and LVP flooring
