Stabilized Apartment
For Sale
Contact for pricing
2205 Peach Avenue, Clovis, CA 93612
A 59-unit apartment community offered for sale in Clovis, California.
Property Size38,530 SF
Price / SF$184.27
Days on Market110
Property Features for 2205 Peach Avenue
General Information
Standard status
Active
Size
38,530 SF
Class
B
Total Parking Spaces
85
Property subtype
Multifamily
Zoning
R3
Occupancy
96%
Investment Type
Value Add
Net Operating Income
$436,326
Additional Details
Multifamily Units
59
Building Details
Year Built
1973
Buildings
8
Units
59
Tenancy
Multi
Listing Agency:
Northmarq
Listed By:
Brendan Kane · License ##01976828
(559) 289-0698
Source:
Crexi
Added: May 27
Changed: Aug 16
Last Checked: Sep 12 at 7:26AM
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 Northmarq
Investment Insights
Based on property information with market context.
Alamos Gardens is a 59-unit apartment community offered for sale. The property is described as a stabilized, income-producing asset.
The community is located at 2205 Peach Avenue in Clovis, California 93612. The asset is being marketed exclusively by Northmarq.
The community is located at 2205 Peach Avenue in Clovis, California 93612. The asset is being marketed exclusively by Northmarq.
Key Highlights
- 59‑unit apartment community for sale in Clovis, California
- Year built: 1973
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
$504,654
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
7.11%
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%
$10,093,080
$10.1M
Cap Rate 7%
$7,209,343
$7.2M
Cap Rate 9%
$5,607,267
$5.6M
Market Conditions
NOI Build-Up for 38,530 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
$971.0K $25.20/SF
− Vacancy
−$53.4K −$1.39/SF
EGI
$917.6K $23.81/SF
− OpEx
−$412.9K −$10.72/SF
NOI
$504.7K $13.10/SF
Area
Clovis, CA
Vacancy
5.50%
Lease Rate
$25.20 /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%
$10,093,080
Cap Rate 7%
$7,209,343
Cap Rate 9%
$5,607,267
Alternative Uses
Best Use
Apartment 5plus
$7.21M
$6.31M – $8.41M
NOI $504,654 @ 7.0% cap · market cap 7.11%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.71M
$8.49M – $11.32M
NOI $679,484 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
59
Residential units
Location Intelligence
Trade Area within ½ mile
951
Businesses Nearby
Explore this area
Business Placement
Demographics for 93612, CA
37,368
Population
14,362
Households
2.6
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
5,577
Density / Sq Mi
$64,079
Median Household Income
$40,460
Median Earnings
$1,410
Median Rent
$311,700
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 - A 59-unit apartment community offered for sale in Clovis, California.
Where is this apartment building located?
The property is located at 2205 Peach Avenue Clovis, CA.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: 59‑unit apartment community for sale in Clovis, California; Year built: 1973
