New Construction Triplex with
For Sale
$930,000
2331 N Arthur Avenue, Fresno, CA 93705
Multi Family, Fresno, CA
Property Size2,472 SF
Lot Size0.18 Acres
Price / SF$376.21
Days on Market42
Property Features for 2331 N Arthur Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Property condition
Under Construction
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bedroom 4, Bathroom 1, Bedroom 2, Bathroom 4, Bathroom 3, Bedroom 3, Bedroom 1
Parking features
Covered, Garage
Exterior features
Stucco
High school district
Fresno Unified
Directions
From CA-41 S, Exit W onto Shields. Turn Left on Palm. Turn Right on Clinton. Turn Left on Arthur. Property is on the Right.
Subdivision
705
Standard status
Active
APN
44405224
Size
2,472 SF
Lot size
0.18 Acres
Amenities
owned solar
washer
dryer
refrigerator
faux wood blinds
private fenced yard
laundry hookups
Building Details
Year built
2026
Floors in Building
1
Number of units
3
Roof type
Tile
Listing Agency:
Realty Concepts, Ltd. - Fresno
(559) 490-1500
Listed By:
Mientjie Angouw
(559) 490-1500
Added: Jul 22
Changed: Aug 31
Last Checked: Sep 1 at 12:06PM
MLS# 652460
Copyright © 2026 Fresno Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This triplex comprises two detached single-family homes and one front ADU on a 0.1825-acre parcel at 2331, 2333, and 2335 N. Arthur Avenue in Fresno. The combined property measures 2,472 square feet and was built in 2026. Each residence includes two bedrooms, two bathrooms, a living room, full kitchen with eating area, quartz countertops, LVP flooring, high ceilings, laundry hookups, and a private fenced yard. Owned solar systems, refrigerators, washers, dryers, and faux wood blinds are included across the property.
The ADU contains 812 square feet and has indoor laundry plus two parking spaces. Each 830-square-foot primary home includes laundry in the garage; one provides a one-car garage and driveway parking, while the other has a one-car alley-access garage. Tile roofing and stucco exteriors complete the improvements.
The ADU contains 812 square feet and has indoor laundry plus two parking spaces. Each 830-square-foot primary home includes laundry in the garage; one provides a one-car garage and driveway parking, while the other has a one-car alley-access garage. Tile roofing and stucco exteriors complete the improvements.
Key Highlights
- Triplex configuration with two detached single‑family homes and one ADU
- 2,472 square feet across three residences on a 0.1825‑acre lot
- Each residence offers 2 bedrooms, 2 bathrooms, 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 separate residences share one parcel, each with two bedrooms, two baths, private outdoor space, and laundry hookups.
Where is this triplex located?
The property is located at 2331 N Arthur Avenue 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: Triplex configuration with two detached single‑family homes and one ADU; 2,472 square feet across three residences on a 0.1825‑acre lot; Each residence offers 2 bedrooms, 2 bathrooms, and a private fenced yard
