8-Unit Apartment
For Sale
$1,050,000
2125 W Princeton Ave, Fresno, CA 93705
Two-bedroom residences offer varied bathroom configurations, with select units recently refreshed.
Property Size8,016 SF
Price / SF$130.99
Days on Market11
Property Features for 2125 W Princeton Ave
General Information
Standard status
Active
Size
8,016 SF
Property subtype
Residential Income
Units
Unit Mix
6 x 2BR/1.5BA, 2 x 2BR/1.75BA
Multifamily Units
8
Additional Details
Highway Access
Yes
Listing Agency:
Fresno Income Properties
(559) 438-9410
Listed By:
Roy C. Cordova · License #01944933
(559) 319-0591
Source:
Exprealty
Added: Aug 31
Changed: Sep 6
Last Checked: Sep 10 at 10:38AM
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 Fresno Income Properties
Investment Insights
Based on property information with market context.
Located at 2125 W Princeton Ave in Fresno, this 8-unit apartment property contains 8,016 square feet and offers a consistent two-bedroom configuration across the building. The unit mix includes six residences with 1.5 bathrooms and two residences with 1.75 bathrooms.
Three units have received recent updates, including new flooring, interior paint, countertops, and appliances. The property is near freeway access, shopping, and dining, providing convenient connectivity to nearby services and amenities.
Three units have received recent updates, including new flooring, interior paint, countertops, and appliances. The property is near freeway access, shopping, and dining, providing convenient connectivity to nearby services and amenities.
Key Highlights
- 8‑unit apartment property totaling 8,016 square feet
- Unit mix includes six 2‑bedroom/1.5‑bath units and two 2‑bedroom/1.75‑bath units
- Three units updated with flooring, interior paint, countertops, and appliances
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
$91,976
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
8.76%
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%
$1,839,520
$1.8M
Cap Rate 7%
$1,313,943
$1.3M
Cap Rate 9%
$1,021,956
$1.0M
Market Conditions
NOI Build-Up for 8,016 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
$176.0K $21.96/SF
− Vacancy
−$8.8K −$1.10/SF
EGI
$167.2K $20.86/SF
− OpEx
−$75.3K −$9.39/SF
NOI
$92.0K $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%
$1,839,520
Cap Rate 7%
$1,313,943
Cap Rate 9%
$1,021,956
Alternative Uses
Best Use
Apartment 5plus
$1.31M
$1.15M – $1.53M
NOI $91,976 @ 7.0% cap · market cap 8.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.36M
$2.07M – $2.76M
NOI $165,354 @ 7.0% cap · market cap 15.75%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
8
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
628
Businesses Nearby
Explore this area
Business Placement
Demographics for 93705, CA
38,125
Population
13,408
Households
2.8
Avg Household Size
31
Median Age
16%
College-Educated
75%
High-School Grad
4.9 sq mi
ZIP Area
7,781
Density / Sq Mi
$55,152
Median Household Income
$35,979
Median Earnings
$1,254
Median Rent
$281,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two-bedroom residences offer varied bathroom configurations, with select units recently refreshed.
Where is this apartment building located?
The property is located at 2125 W Princeton Ave Fresno, CA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 8‑unit apartment property totaling 8,016 square feet; Unit mix includes six 2‑bedroom/1.5‑bath units and two 2‑bedroom/1.75‑bath units; Three units updated with flooring, interior paint, countertops, and appliances
