Multifamily Property with
For Sale
$1,300,000
1506 N Cobb, Porterville, CA 93257
The property includes central air, forced-air heating, and a concrete attached carport.
Property Size6,900 SF
Days on Market23
Property Features for 1506 N Cobb
General Information
Standard status
Active
Size
6,900 SF
Total Parking Spaces
8
Property subtype
Residential Income
Net Operating Income
$78,782
Amenities
Suburban
Central Air, Dual, Electric, ENERGY STAR Qualified Equipment
Central, ENERGY STAR Qualified Equipment, Forced Air, Natural Gas
Disposal, Gas Oven, Gas Range, Microwave
Granite Counters, Tile Counters
Attached Carport, Concrete, Carport
Building Details
Building Size
6,900 SF
Year Built
1975
Buildings
2
Stories
1
Listing Agency:
The Equity Group
Listed By:
Franklin Romine · License #01367450
(559) 804-4422
Source:
Evrealestate
Added: Sep 14
Changed: Oct 5
Last Checked: Oct 5 at 5:50PM
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 The Equity Group
Investment Insights
Based on property information with market context.
This multifamily property, built in 1975, includes central air and forced-air heating. The equipment list specifies electric, dual, and ENERGY STAR-qualified cooling, along with natural-gas heating. Interior features include granite and tile counters, a gas oven and range, a microwave, and a disposal. An attached carport has a concrete surface.
The property is located at 1506 N Cobb in Porterville, California, in Tulare County.
The property is located at 1506 N Cobb in Porterville, California, in Tulare County.
Key Highlights
- Built in 1975
- Attached concrete carport
- Central air with dual, electric, ENERGY STAR‑qualified equipment
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,298
Cap Rate
4.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,145,960
$1.1M
Cap Rate 7%
$818,543
$818.5K
Cap Rate 9%
$636,644
$636.6K
Market Conditions
NOI Build-Up for 6,900 SF
Gross rent
$111.8K $16.20/SF
− Vacancy
−$7.6K −$1.10/SF
EGI
$104.2K $15.10/SF
− OpEx
−$46.9K −$6.79/SF
NOI
$57.3K $8.30/SF
Area
Tulare County, CA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,145,960
Cap Rate 7%
$818,543
Cap Rate 9%
$636,644
Alternative Uses
Best Use
Apartment 5plus
$818.5K
$716.2K – $955.0K
NOI $57,298 @ 7.0% cap · market cap 4.41%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.10M
$1.83M – $2.45M
NOI $146,711 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
97
Businesses Nearby
Explore this area
Business Placement
Demographics for 93257, CA
79,569
Population
25,020
Households
3.2
Avg Household Size
31
Median Age
15%
College-Educated
69%
High-School Grad
378.9 sq mi
ZIP Area
210
Density / Sq Mi
$58,261
Median Household Income
$30,344
Median Earnings
$1,086
Median Rent
$276,400
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?
Multifamily property - The property includes central air, forced-air heating, and a concrete attached carport.
Where is this multifamily property located?
The property is located at 1506 N Cobb Porterville, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Built in 1975; Attached concrete carport; Central air with dual, electric, ENERGY STAR‑qualified equipment
