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    Strathmore Duplex with Income Potential Title is generated by Realmo AI

    23072 Bruce Drive, Strathmore, CA 93267

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    For Sale
    $265,000

    MULTI_FAMILY - Strathmore, CA

    Property size:
    1,368 SF
    Lot size:
    0.14 Acres
    Price / SF:
    $193/SF
    Added:
    May 1, 2025
    Days on Market:
    396
    Last Refresh:
    May 31 at 6:06 pm

    Property Features for 23072 Bruce Drive

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    2
    Rooms
    Bathroom 2, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 1
    Standard status
    Active
    APN
    215072019000
    Size
    1,368 SF
    Lot size
    0.14 Acres

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Wall Furnace
    Cooling system
    Wall/Window Unit(s), Window Unit(s), Evaporative Cooling
    Water source
    Public

    Building Details

    Year built
    1940
    Floors in Building
    1
    Number of units
    2
    Roof type
    Composition

    We can help!

    Listing Contact
    Ruben Benitez

    Listing agent Ruben Benitez

    Listing office Joy Realty Group 564 N Walch St., Porterville, CA

    Listing date May 1, 2025

    MLS# 234996 Listing URL

    Copyright © 2026 Tulare County MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Duplex offers multiple income or living arrangements (live in one, rent the other, rent both, or mother‑in‑law quarters).
    • Separate gas and electricity meters for each unit.
    • Convenient location near schools and grocery shopping.
    • Easy access to Highway 65.
    • Public water and sewer connections.
    • Roof is composition.

    Overview

    This duplex in Strathmore, California, presents various opportunities, including living in one unit and renting the other, renting both, or utilizing one as in-law quarters. It is suitable as a starter home or investment property. The property is conveniently located near schools and grocery shopping, with easy access to Highway 65. The property size is 1368 square feet and the lot size is 0.14 acres. Both units have separate gas and electricity meters but share a water meter.
    Property Profile Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Restaurant Building Supply Big Box & Wholesale Store Auto Repair Shop Auto Parts Store Department Store Food Market Accounting Firm Grocery & Convenience Store HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Strathmore
    County
    Tulare
    State
    California
    Longitude
    -119.056671
    Latitude
    36.147616

    Nearby Similar for Sale

    • $799,000
      6,990 SF

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      6,990 SF industrial building on 0.74 acres near Highway 65.
      19757 Orange Belt Drive, Strathmore, CA 93267
      View Details
    • $2,250,000

      Productive Pistachio and Walnut Ranch

      93.21 acres with pistachios, walnuts, and irrigation.
      19901 Rd 172, Strathmore, CA 93267
      View Details

    FAQs

    What type of property is this?
    Duplex - Duplex near schools and Highway 65, ideal for investment.
    Where is this duplex located?
    The property is located at 23072 Bruce Drive Strathmore, CA.
    What is the asking price?
    The asking price for this property is $265,000.
    What are key features of this property?
    This property features: Duplex offers multiple income or living arrangements (live in one, rent the other, rent both, or mother‑in‑law quarters).; Separate gas and electricity meters for each unit.; Convenient location near schools and grocery shopping.
    (559) 804-1557
    We can help!
    Listing Contact
    Ruben Benitez
    Request Owner's contact information
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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