Triplex with In-Unit
For Sale
$295,000
217 Jessie, Hanford, CA 93230
Multi-Family, Hanford, CA
Property Size2,278 SF
Lot Size0.44 Acres
Price / SF$129.50
Days on Market52
Property Features for 217 Jessie
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
SC
Parking features
Carport, Open
Patio and Porch features
Porch
Interior features
Vaulted Ceiling(s), Walk In Closets
Fencing
Wood
Directions
Exit 198 at 9 1/4 Ave., north on 9 1/4 to Lacey, Lacey west to Jessie
Subdivision
North East Hanford
Standard status
Active
APN
014213010000
Size
2,278 SF
Lot size
0.44 Acres
Utilities
Sewer type
Public Sewer
Heating system
Wall Furnace
Water source
Public
Amenities
laundry space
Building Details
Floors in Building
1
Flooring type
Carpet
Roof type
Composition
Listing Agency:
Lemoore Real Estate
(559) 924-8355
Listed By:
Gina N Tashima · License #01950540
(559) 381-0139
Added: Jul 1
Changed: Aug 19
Last Checked: Aug 21 at 4:06PM
MLS# 234554
Copyright © 2026 Kings County Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex includes three individual homes under one property, with each unit having its own laundry space. Interior features include vaulted ceilings and walk-in closets, and the flooring is carpet. Heating is provided by wall furnaces. The property also includes a porch, wood fencing, and a composition roof. Utilities/services include public water and public sewer.
The lot size is 0.4399 acres, with a total property size of 2,278 square feet. Parking features include carport and open parking.
For location and access, the property is described as being near Costco and downtown Hanford, with easy accessibility to Highway 43 and Highway 198.
The lot size is 0.4399 acres, with a total property size of 2,278 square feet. Parking features include carport and open parking.
For location and access, the property is described as being near Costco and downtown Hanford, with easy accessibility to Highway 43 and Highway 198.
Key Highlights
- Three‑unit triplex with each unit featuring its own laundry space
- 0.4399‑acre lot and 2,278 SF total property size
- Public water and public sewer
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
$24,905
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
8.44%
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%
$498,100
$498.1K
Cap Rate 7%
$355,786
$355.8K
Cap Rate 9%
$276,722
$276.7K
Market Conditions
NOI Build-Up for 2,278 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
$47.6K $20.88/SF
− Vacancy
−$2.3K −$1.00/SF
EGI
$45.3K $19.88/SF
− OpEx
−$20.4K −$8.94/SF
NOI
$24.9K $10.93/SF
Area
Kings County, CA
Vacancy
4.80%
Lease Rate
$20.88 /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%
$498,100
Cap Rate 7%
$355,786
Cap Rate 9%
$276,722
Alternative Uses
Best Use
Multifamily LT 5
$399.2K
$349.3K – $465.7K
NOI $27,942 @ 7.0% cap · market cap 9.47%
Second Best
Apartment 5plus
$355.8K
$311.3K – $415.1K
NOI $24,905 @ 7.0% cap · market cap 8.44%
Theoretical Best
Healthcare Medical
$719.7K
$629.8K – $839.7K
NOI $50,380 @ 7.0% cap · market cap 17.08%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,145
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
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?
Triplex - Triplex on a large lot with three individually rented homes, each with its own laundry space and separate living areas.
Where is this triplex located?
The property is located at 217 Jessie Hanford, CA.
What is the asking price?
The asking price for this property is $295,000.
What are key features of this property?
This property features: Three‑unit triplex with each unit featuring its own laundry space; 0.4399‑acre lot and 2,278 SF total property size; Public water and public sewer
