Mayfair Quadplex with Gated
For Sale
$545,000
2036 N First, Fresno, CA 93703
Four-unit property with established occupancy, laundry hookups, and secured covered parking.
Property Size2,645 SF
Days on Market102
Property Features for 2036 N First
General Information
Standard status
Active
Size
2,645 SF
Property subtype
Multi Family Home
Additional Details
Multifamily Units
4
Amenities
laundry hook ups
gated carports
Building Details
Building Size
2,645 SF
Year Built
1957
Buildings
1
Stories
1
Units
4
Listing Agency:
Realty Fresno
(559) 240-6135
Listed By:
Glenn Hammerburg · License #00839342
(559) 240-6135
Source:
Coalingamidstaterealty
Added: May 15
Changed: Aug 18
Last Checked: Aug 23 at 12:20PM
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 Realty Fresno
Investment Insights
Based on property information with market context.
This 1957-built quadplex contains four residential units with long-term tenants in place. Each unit includes laundry hookups, providing a practical feature for residents and supporting the property's existing multifamily configuration. Gated carports add covered parking and controlled access for occupants.
The property is located in Fresno's Mayfair area at 2036 N First. The seller requests buyer cooperation with an IRC 1031 exchange at no cost to the buyer.
The property is located in Fresno's Mayfair area at 2036 N First. The seller requests buyer cooperation with an IRC 1031 exchange at no cost to the buyer.
Key Highlights
- Four‑unit multifamily property in Fresno's Mayfair area
- Long‑term tenants occupy the units
- Laundry hookups provided in every 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
$34,643
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
6.36%
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%
$692,860
$692.9K
Cap Rate 7%
$494,900
$494.9K
Cap Rate 9%
$384,922
$384.9K
Market Conditions
NOI Build-Up for 2,645 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
$52.4K $19.80/SF
− Vacancy
−$2.9K −$1.09/SF
EGI
$49.5K $18.71/SF
− OpEx
−$14.8K −$5.61/SF
NOI
$34.6K $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%
$692,860
Cap Rate 7%
$494,900
Cap Rate 9%
$384,922
Alternative Uses
Best Use
Multifamily LT 5
$494.9K
$433.0K – $577.4K
NOI $34,643 @ 7.0% cap · market cap 6.36%
Second Best
Apartment 5plus
$433.6K
$379.4K – $505.8K
NOI $30,349 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$779.4K
$682.0K – $909.4K
NOI $54,561 @ 7.0% cap · market cap 10.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
748
Businesses Nearby
Explore this area
Business Placement
Demographics for 93703, CA
34,840
Population
11,155
Households
3.1
Avg Household Size
31
Median Age
9%
College-Educated
72%
High-School Grad
4.8 sq mi
ZIP Area
7,258
Density / Sq Mi
$43,236
Median Household Income
$30,359
Median Earnings
$1,204
Median Rent
$250,200
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 - Four-unit property with established occupancy, laundry hookups, and secured covered parking.
Where is this quadplex located?
The property is located at 2036 N First Fresno, CA.
What is the asking price?
The asking price for this property is $545,000.
What are key features of this property?
This property features: Four‑unit multifamily property in Fresno's Mayfair area; Long‑term tenants occupy the units; Laundry hookups provided in every unit
