Newly Built
For Sale
$930,000
2331 N Arthur Ave, Fresno, CA 93705
Three detached residences share one parcel with private yards, owned solar, in-home laundry, and garage parking at select units.
Property Size2,472 SF
Price / SF$376.21
Days on Market41
Property Features for 2331 N Arthur Ave
General Information
Standard status
Active
Size
2,472 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
3 x 2BR/2BA
Multifamily Units
3
Amenities
solar panels
washer
dryer
refrigerator
faux wood blinds
private fenced yard
Building Details
Year Built
2026
Tenancy
Multi
Listing Agency:
Realty Concepts, Ltd. - Fresno
(559) 797-2411
Listed By:
Ming Ming Wikanta Angouw · License #01885307
(559) 797-2411
Source:
Exprealty
Added: Jul 22
Changed: Aug 30
Last Checked: Aug 31 at 12:13AM
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 Realty Concepts, Ltd. - Fresno
Investment Insights
Based on property information with market context.
This Fresno triplex comprises two detached single-family residences and one detached ADU totaling 2,472 square feet. Each 2-bedroom, 2-bathroom home includes a living room, full kitchen with dining area, quartz countertops, LVP flooring, high ceilings, laundry hookups, and a private fenced yard. Owned solar systems, washers, dryers, refrigerators, faux wood blinds, and tile roofs are included throughout. The property was built in 2026 by Gary McDonald Homes.
Unit sizes are 812 square feet for the front ADU and 830 square feet for each primary residence. The ADU has indoor laundry and two front parking spaces, while both primary homes provide laundry in the garage; one includes a 1-car garage and driveway parking, and the other has a 1-car alley-accessed garage. The property has been fully leased, with tenants in place since June 2026, and is located at 2331, 2333, and 2335 N. Arthur Ave in Fresno, California.
Unit sizes are 812 square feet for the front ADU and 830 square feet for each primary residence. The ADU has indoor laundry and two front parking spaces, while both primary homes provide laundry in the garage; one includes a 1-car garage and driveway parking, and the other has a 1-car alley-accessed garage. The property has been fully leased, with tenants in place since June 2026, and is located at 2331, 2333, and 2335 N. Arthur Ave in Fresno, California.
Key Highlights
- Three detached homes on one lot: two single‑family residences plus an ADU
- 2,472 SF total property size with 812 SF and two 830 SF residences
- Each home includes 2 bedrooms, 2 bathrooms, a full kitchen, and a private fenced yard
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
$32,378
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
3.48%
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%
$647,560
$647.6K
Cap Rate 7%
$462,543
$462.5K
Cap Rate 9%
$359,756
$359.8K
Market Conditions
NOI Build-Up for 2,472 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
$48.9K $19.80/SF
− Vacancy
−$2.7K −$1.09/SF
EGI
$46.3K $18.71/SF
− OpEx
−$13.9K −$5.61/SF
NOI
$32.4K $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 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%
$647,560
Cap Rate 7%
$462,543
Cap Rate 9%
$359,756
Alternative Uses
Best Use
Multifamily LT 5
$462.5K
$404.7K – $539.6K
NOI $32,378 @ 7.0% cap · market cap 3.48%
Second Best
Apartment 5plus
$405.2K
$354.6K – $472.7K
NOI $28,364 @ 7.0% cap · market cap 3.05%
Theoretical Best
Office A
$728.5K
$637.4K – $849.9K
NOI $50,992 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 93705, CA
38,125
Population
13,408
Households
2.8
Avg Household Size
31
Median Age
16%
College-Educated
75%
High-School Grad
4.9 sq mi
ZIP Area
7,781
Density / Sq Mi
$55,152
Median Household Income
$35,979
Median Earnings
$1,254
Median Rent
$281,300
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 - Three detached residences share one parcel with private yards, owned solar, in-home laundry, and garage parking at select units.
Where is this triplex located?
The property is located at 2331 N Arthur Ave Fresno, CA.
What is the asking price?
The asking price for this property is $930,000.
What are key features of this property?
This property features: Three detached homes on one lot: two single‑family residences plus an ADU; 2,472 SF total property size with 812 SF and two 830 SF residences; Each home includes 2 bedrooms, 2 bathrooms, a full kitchen, and a private fenced yard
