Five-Unit Apartment
New
For Sale
$425,000
216 S Q Street, Dinuba, CA 93618
Two buildings contain a varied unit mix, with separately metered apartments and long-term month-to-month occupancy.
Property Size2,068 SF
Price / SF$205.51
Days on Market4
Property Features for 216 S Q Street
General Information
Standard status
Active
Size
2,068 SF
Property subtype
Multi Family
Units
Unit Mix
2 x 2BR/1BA, 2 x 1BR/1BA, 1 x studio
Multifamily Units
5
Additional Details
Gross Income
$42,000
Building Details
Year Built
1969
Buildings
2
Listing Agency:
Aleman Realty
(559) 351-8895
Listed By:
Hector Aleman · License #DRE #01789122
(559) 351-8895
Source:
Exitrealty
Added: Aug 6
Changed: Aug 9
Last Checked: Aug 9 at 10:44AM
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 Aleman Realty
Investment Insights
Based on property information with market context.
This 2,068-square-foot apartment property, built in 1969, contains five rental units across two buildings. The front structure has two 2-bedroom, 1-bath apartments, while the rear structure offers two 1-bedroom, 1-bath apartments plus a studio. Each unit has its own address and separate utilities, creating distinct configurations within the property.
Residents lease month-to-month and cover their own water and trash expenses. The rear building’s roof requires repair, providing a clearly identified capital improvement item. The property is located at 216 S Q Street in Dinuba, California.
Residents lease month-to-month and cover their own water and trash expenses. The rear building’s roof requires repair, providing a clearly identified capital improvement item. The property is located at 216 S Q Street in Dinuba, California.
Key Highlights
- Five rental units totaling 2,068 square feet
- Unit mix includes two 2‑bedroom, 1‑bath units, two 1‑bedroom, 1‑bath units, and one studio
- Front and rear buildings; each unit has its own address and separate utilities
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
$17,173
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
4.04%
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%
$343,460
$343.5K
Cap Rate 7%
$245,329
$245.3K
Cap Rate 9%
$190,811
$190.8K
Market Conditions
NOI Build-Up for 2,068 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
$33.5K $16.20/SF
− Vacancy
−$2.3K −$1.10/SF
EGI
$31.2K $15.10/SF
− OpEx
−$14.1K −$6.79/SF
NOI
$17.2K $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 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%
$343,460
Cap Rate 7%
$245,329
Cap Rate 9%
$190,811
Alternative Uses
Best Use
Apartment 5plus
$245.3K
$214.7K – $286.2K
NOI $17,173 @ 7.0% cap · market cap 4.04%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$628.2K
$549.6K – $732.9K
NOI $43,971 @ 7.0% cap · market cap 10.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
491
Businesses Nearby
Explore this area
Business Placement
Demographics for 93618, CA
30,709
Population
9,040
Households
3.4
Avg Household Size
30
Median Age
14%
College-Educated
71%
High-School Grad
66.9 sq mi
ZIP Area
459
Density / Sq Mi
$63,190
Median Household Income
$31,976
Median Earnings
$1,125
Median Rent
$272,600
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 - Two buildings contain a varied unit mix, with separately metered apartments and long-term month-to-month occupancy.
Where is this apartment building located?
The property is located at 216 S Q Street Dinuba, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Five rental units totaling 2,068 square feet; Unit mix includes two 2‑bedroom, 1‑bath units, two 1‑bedroom, 1‑bath units, and one studio; Front and rear buildings; each unit has its own address and separate utilities
