Remodeled 5-Unit Apartment
For Sale
$890,000
2025 E White Avenue, Fresno, CA 93701
Five uniform residences feature three-bedroom layouts, recent updates, and leasing through the Housing Authority.
Property Size4,500 SF
Days on Market135
Property Features for 2025 E White Avenue
General Information
Standard status
Active
Size
4,500 SF
Net Rentable
4,500 SF
Property subtype
Multi Family Home
Net Operating Income
$72,996
Financials
Gross Income
$103,776
Average Monthly Rent
$1,729
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
5 x 3BR/1BA
Multifamily Units
5
Building Details
Building Size
4,500 SF
Year Built
1970
Stories
2
Units
5
Listing Agency:
HomeSmart PV and Associates
(559) 274-7025
Listed By:
Puneet Bhargava · License #01859500
(559) 274-7025
Source:
Coalingamidstaterealty
Added: Apr 19
Changed: Aug 29
Last Checked: Aug 30 at 5:31PM
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 HomeSmart PV and Associates
Investment Insights
Based on property information with market context.
This 5-unit apartment property in Fresno contains five 3-bedroom, 1-bath residences, each measuring approximately 900 square feet, for about 4,500 square feet of rentable area. The interiors and exterior have been remodeled and painted within the past three years, creating a consistent, low-maintenance configuration across the property. All units are currently leased through the Housing Authority and accommodate Section 8 tenancy.
The property is located near Highway 180, shopping centers, schools, and dining. Built in 1970, it sits within a maintained apartment complex and offers a uniform unit mix suited to multifamily ownership.
The property is located near Highway 180, shopping centers, schools, and dining. Built in 1970, it sits within a maintained apartment complex and offers a uniform unit mix suited to multifamily ownership.
Key Highlights
- Five 3‑bedroom, 1‑bath apartments, approximately 900 SF each
- Approximately 4,500 square feet of total rentable area
- Remodeled and painted within the past 3 years
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
$51,633
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
5.80%
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%
$1,032,660
$1.0M
Cap Rate 7%
$737,614
$737.6K
Cap Rate 9%
$573,700
$573.7K
Market Conditions
NOI Build-Up for 4,500 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
$98.8K $21.96/SF
− Vacancy
−$4.9K −$1.10/SF
EGI
$93.9K $20.86/SF
− OpEx
−$42.2K −$9.39/SF
NOI
$51.6K $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /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%
$1,032,660
Cap Rate 7%
$737,614
Cap Rate 9%
$573,700
Alternative Uses
Best Use
Apartment 5plus
$737.6K
$645.4K – $860.6K
NOI $51,633 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $92,826 @ 7.0% cap · market cap 10.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,231
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Five uniform residences feature three-bedroom layouts, recent updates, and leasing through the Housing Authority.
Where is this apartment building located?
The property is located at 2025 E White Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $890,000.
What are key features of this property?
This property features: Five 3‑bedroom, 1‑bath apartments, approximately 900 SF each; Approximately 4,500 square feet of total rentable area; Remodeled and painted within the past 3 years
