Quadplex Property with Two-Story
For Sale
$525,000
2406 B Street, Selma, CA 93662
Two APNs comprise a corner property with residential improvements near downtown and grocery stores.
Property Size2,244 SF
Price / SF$233.96
Days on Market152
Property Features for 2406 B Street
General Information
Standard status
Active
Size
2,244 SF
Property subtype
Multi Family / Quadruplex
Lease Type
Net
Amenities
Floor or Wall Heat, Window or Wall A/C
Sprinkler - Front, Sprinkler - Auto
Shake
Wood
Concrete Perimeter
Corner
Building Details
Year Built
1950
Listing Agency:
RPS Real Estate
(559) 970-1399
Listed By:
Jose Tinoco · License #01241551
(559) 970-1399
Source:
Compass
Added: Apr 2
Changed: Aug 30
Last Checked: Aug 30 at 11:03PM
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 RPS Real Estate
Investment Insights
Based on property information with market context.
This residential income property includes two APNs identified as 2406 and 2418 B Street. The improvements total 2,244 square feet and include a one-bedroom, one-bath house along with a two-story structure containing one-bedroom, one-bath living areas. The property was built in 1950 and is offered in its existing condition, with no repairs planned by the seller.
The corner property is located close to downtown and grocery stores. Interior features include floor or wall heat and window or wall A/C. Exterior details include a concrete perimeter, wood and shake materials, and front automatic sprinklers.
The corner property is located close to downtown and grocery stores. Interior features include floor or wall heat and window or wall A/C. Exterior details include a concrete perimeter, wood and shake materials, and front automatic sprinklers.
Key Highlights
- 2,244‑square‑foot residential property with two APNs
- Includes a one‑bedroom, one‑bath house
- Two‑story structure with one‑bedroom, one‑bath living areas
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
$29,704
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
5.66%
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%
$594,080
$594.1K
Cap Rate 7%
$424,343
$424.3K
Cap Rate 9%
$330,044
$330.0K
Market Conditions
NOI Build-Up for 2,244 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
$45.2K $20.16/SF
− Vacancy
−$2.8K −$1.25/SF
EGI
$42.4K $18.91/SF
− OpEx
−$12.7K −$5.67/SF
NOI
$29.7K $13.24/SF
Area
Fresno County, CA
Vacancy
6.20%
Lease Rate
$20.16 /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%
$594,080
Cap Rate 7%
$424,343
Cap Rate 9%
$330,044
Alternative Uses
Best Use
Multifamily LT 5
$424.3K
$371.3K – $495.1K
NOI $29,704 @ 7.0% cap · market cap 5.66%
Second Best
Apartment 5plus
$405.4K
$354.7K – $473.0K
NOI $28,377 @ 7.0% cap · market cap 5.41%
Theoretical Best
Office A
$636.0K
$556.5K – $742.0K
NOI $44,520 @ 7.0% cap · market cap 8.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
791
Businesses Nearby
Explore this area
Business Placement
Demographics for 93662, CA
30,774
Population
9,810
Households
3.1
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
77.9 sq mi
ZIP Area
395
Density / Sq Mi
$56,735
Median Household Income
$34,406
Median Earnings
$1,220
Median Rent
$297,800
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?
Quadplex - Two APNs comprise a corner property with residential improvements near downtown and grocery stores.
Where is this quadplex located?
The property is located at 2406 B Street Selma, CA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 2,244‑square‑foot residential property with two APNs; Includes a one‑bedroom, one‑bath house; Two‑story structure with one‑bedroom, one‑bath living areas
