Newly Built Solar
For Sale
$899,950
2343 N Arthur Ave, Fresno, CA 93705
Fully rented triplex with private fenced yards, updated interiors, and laundry facilities serving every residence.
Property Size2,472 SF
Price / SF$364.06
Days on Market35
Property Features for 2343 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
private fenced yard
in-unit washer/dryer
Listing Agency:
AJR Real Estate
(559) 908-8883
Listed By:
John W. Ahl Jr · License #01767610
(559) 908-8883
Source:
Exprealty
Added: Jul 28
Changed: Aug 22
Last Checked: Aug 30 at 10:04PM
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 AJR Real Estate
Investment Insights
Based on property information with market context.
This newly built triplex contains three fully rented residences, each configured with two bedrooms and two bathrooms. Unit sizes are 812 SF at 2343 N Arthur Ave and 830 SF at both 2345 N Arthur Ave and 2347 N Arthur Ave. Each residence includes a refrigerator, washer, dryer, owned solar, and a private fenced yard. Interior improvements include quartz countertops, vinyl flooring, and ductless HVAC systems.
The property is located at 2343 N Arthur Ave in Fresno, California. Parking varies by residence: 2343 N Arthur includes room for two parking spots, 2345 N Arthur has a one-car garage plus one parking spot, and 2347 N Arthur includes a one-car garage. Laundry is located indoors at 2343 N Arthur and in the garage at the other two residences.
The property is located at 2343 N Arthur Ave in Fresno, California. Parking varies by residence: 2343 N Arthur includes room for two parking spots, 2345 N Arthur has a one-car garage plus one parking spot, and 2347 N Arthur includes a one-car garage. Laundry is located indoors at 2343 N Arthur and in the garage at the other two residences.
Key Highlights
- Three 2BED/2BATH units: 812 SF, 830 SF, and 830 SF
- Each residence includes owned solar and a private fenced yard
- Quartz counters, vinyl flooring, and ductless HVAC systems
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
3.60%
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 3.60%
Second Best
Apartment 5plus
$405.2K
$354.6K – $472.7K
NOI $28,364 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$728.5K
$637.4K – $849.9K
NOI $50,992 @ 7.0% cap · market cap 5.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
100%
Occupancy
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 - Fully rented triplex with private fenced yards, updated interiors, and laundry facilities serving every residence.
Where is this triplex located?
The property is located at 2343 N Arthur Ave Fresno, CA.
What is the asking price?
The asking price for this property is $899,950.
What are key features of this property?
This property features: Three 2BED/2BATH units: 812 SF, 830 SF, and 830 SF; Each residence includes owned solar and a private fenced yard; Quartz counters, vinyl flooring, and ductless HVAC systems
