Building Details

Year Built 1979

Listing Agency: Iron Key Real Estate Show Phone

Listed By: Diego M. Hinojosa · License #02041380 Show Phone

Source: Exitrealty

Added: Jun 1 Changed: Oct 11 Last Checked: Oct 12 at 7:05PM

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Investment Insights

Based on property information with market context.

This 3,304-square-foot quadplex, built in 1979, contains four 2-bedroom, 1-bath residences. Three units have received recent interior updates, including wood-style flooring, new paint, updated lighting and hardware, subway tile backsplashes, and granite kitchen counters. The exterior was also repainted, with new fascia added. An unfinished downstairs area provides laundry and storage space.

All four residences are occupied under month-to-month agreements, and one unit is currently leased below market rent under applicable California rent guidelines. The property is located in Fresno’s 93701 ZIP code, near Downtown Fresno, the Fulton Street corridor, the courthouse district, and the Tower District. Its address is 2311 E White Avenue, Fresno, CA 93701.

Key Highlights

• Four 2‑bedroom, 1‑bath units in a 3,304‑square‑foot quadplex
• Built in 1979; all four units are tenant occupied
• Three units recently updated with flooring, paint, lighting, hardware, backsplashes, and granite counters

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$43,275

Cap Rate

5.97%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$865,500 $865.5K

Cap Rate 7%

$618,214 $618.2K

Cap Rate 9%

$480,833 $480.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,304 SF

Gross rent

$65.4K $19.80/SF

− Vacancy

−$3.6K −$1.09/SF

EGI

$61.8K $18.71/SF

− OpEx

−$18.5K −$5.61/SF

NOI

$43.3K $13.10/SF

Area

Fresno, CA

Vacancy

5.50%

Lease Rate

$19.80 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$865,500

Cap Rate 7%

$618,214

Cap Rate 9%

$480,833

Alternative Uses

Best Use

Multifamily LT 5

$618.2K

$540.9K – $721.3K (±1% cap)

NOI $43,275 @ 7.0% cap · market cap 5.97%

Second Best

Apartment 5plus

$541.6K

$473.9K – $631.8K (±1% cap)

NOI $37,910 @ 7.0% cap · market cap 5.23%

Theoretical Best

Office A

$973.6K

$851.9K – $1.14M (±1% cap)

NOI $68,155 @ 7.0% cap · market cap 9.40%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Anthony James Apartments Apartment Building

Suggested Use

Top Pick Real Estate Agency Kitchen & Bath Showroom (Bike/Boat/Book/etc) Store Plumbing Service Veterinary Clinic Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

1,342

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

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Fully occupied units include recent interior and exterior improvements.

Where is this quadplex located?

The property is located at 2311 E White Avenue Fresno, CA.

What is the asking price?

The asking price for this property is $725,000.

What are key features of this property?

This property features: Four 2‑bedroom, 1‑bath units in a 3,304‑square‑foot quadplex; Built in 1979; all four units are tenant occupied; Three units recently updated with flooring, paint, lighting, hardware, backsplashes, and granite counters