5-Unit Apartment
For Sale
$424,900
2263 E Thomas Ave, Fresno, CA 93701
Five-unit apartment property offering an established multifamily configuration.
Property Size2,942 SF
Price / SF$144.43
Days on Market229
Property Features for 2263 E Thomas Ave
General Information
Standard status
Active
Size
2,942 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
5
Building Details
Year Built
1948
Listing Agency:
eXp Realty of Greater Los Angeles, inc.
Listed By:
Marie Meza · License #01772801
(559) 246-4905
Source:
Sacramentoareahouses
Added: Mar 1
Changed: Oct 1
Last Checked: Oct 14 at 11:16PM
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 eXp Realty of Greater Los Angeles, inc.
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Investment Insights
Based on property information with market context.
This apartment building contains five units within a 2,942-square-foot property. Constructed in 1948, the asset provides a defined multifamily layout for residential income use.
Key Highlights
- Five‑unit apartment building
- 2,942 square feet of property area
- Built in 1948
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,757
Cap Rate
7.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$675,140
$675.1K
Cap Rate 7%
$482,243
$482.2K
Cap Rate 9%
$375,078
$375.1K
Market Conditions
NOI Build-Up for 2,942 SF
Gross rent
$64.6K $21.96/SF
− Vacancy
−$3.2K −$1.10/SF
EGI
$61.4K $20.86/SF
− OpEx
−$27.6K −$9.39/SF
NOI
$33.8K $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 Rate 5%
$675,140
Cap Rate 7%
$482,243
Cap Rate 9%
$375,078
Alternative Uses
Best Use
Apartment 5plus
$482.2K
$422.0K – $562.6K
NOI $33,757 @ 7.0% cap · market cap 7.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$867.0K
$758.6K – $1.01M
NOI $60,688 @ 7.0% cap · market cap 14.28%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
1,231
Businesses Nearby
Explore this area
Business Placement
Demographics for 93701, CA
12,037
Population
3,836
Households
3.1
Avg Household Size
28
Median Age
7%
College-Educated
48%
High-School Grad
1.5 sq mi
ZIP Area
8,025
Density / Sq Mi
$32,192
Median Household Income
$26,875
Median Earnings
$926
Median Rent
$207,600
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
Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment property offering an established multifamily configuration.
Where is this apartment building located?
The property is located at 2263 E Thomas Ave Fresno, CA.
What is the asking price?
The asking price for this property is $424,900.
What are key features of this property?
This property features: Five‑unit apartment building; 2,942 square feet of property area; Built in 1948
