Renovated 4-Unit
For Sale
$800,000
2440 S Sallee, Visalia, CA 93277
Multi Family, Visalia, CA
Property Size4,138 SF
Lot Size0.24 Acres
Price / SF$193.33
Days on Market143
Property Features for 2440 S Sallee
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 1, Bedroom 4, Bathroom 5, Bathroom 8, Bedroom 6, Bathroom 6, Bedroom 2, Bathroom 1, Bathroom 4, Bedroom 7, Bedroom 3, Bedroom 5, Bathroom 3, Bathroom 2, Bathroom 7, Bedroom 8
Parking features
Carport
Exterior features
Stucco, Wood
High school district
Visalia Schools
Directions
From Beech, go south on Sallee
Subdivision
277
Standard status
Active
APN
121240006
Size
4,138 SF
Lot size
0.24 Acres
Building Details
Year built
1974
Floors in Building
2
Number of units
4
Roof type
Shake
Listing Agency:
Realty Concepts, Ltd. - Fresno
(559) 490-1500
Listed By:
Ryan Higton · License #01957204
(559) 490-1500
Added: Apr 9
Changed: Aug 29
Last Checked: Aug 29 at 5:06PM
MLS# 646731
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 four-unit multifamily property contains 4,138 square feet on a 0.2437-acre lot. Each residence has been renovated, and the building includes carport parking. Built in 1974, the property features stucco and wood exterior materials with a shake roof.
The property is located at 2440 S Sallee in Visalia, California, within ZIP Code 93277. A second fourplex immediately north is also offered for sale, creating an opportunity to acquire both properties together. The available room data identifies eight bedrooms and eight bathrooms across the property.
The property is located at 2440 S Sallee in Visalia, California, within ZIP Code 93277. A second fourplex immediately north is also offered for sale, creating an opportunity to acquire both properties together. The available room data identifies eight bedrooms and eight bathrooms across the property.
Key Highlights
- Four‑unit multifamily property with renovated residences
- 4,138 square feet on a 0.2437‑acre lot
- Eight bedrooms and eight bathrooms identified in the room data
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
$37,391
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
4.67%
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%
$747,820
$747.8K
Cap Rate 7%
$534,157
$534.2K
Cap Rate 9%
$415,456
$415.5K
Market Conditions
NOI Build-Up for 4,138 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
$57.1K $13.80/SF
− Vacancy
−$3.7K −$0.89/SF
EGI
$53.4K $12.91/SF
− OpEx
−$16.0K −$3.87/SF
NOI
$37.4K $9.04/SF
Area
Visalia, CA
Vacancy
6.46%
Lease Rate
$13.80 /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%
$747,820
Cap Rate 7%
$534,157
Cap Rate 9%
$415,456
Alternative Uses
Best Use
Multifamily LT 5
$534.2K
$467.4K – $623.2K
NOI $37,391 @ 7.0% cap · market cap 4.67%
Second Best
Apartment 5plus
$490.9K
$429.5K – $572.7K
NOI $34,362 @ 7.0% cap · market cap 4.30%
Theoretical Best
Office A
$1.13M
$991.9K – $1.32M
NOI $79,350 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,327
Businesses Nearby
Explore this area
Business Placement
Demographics for 93277, CA
53,196
Population
19,434
Households
2.7
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,350
Density / Sq Mi
$79,532
Median Household Income
$43,555
Median Earnings
$1,406
Median Rent
$320,500
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 - Updated multifamily property with four residential units and on-site carport parking.
Where is this quadplex located?
The property is located at 2440 S Sallee Visalia, CA.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four‑unit multifamily property with renovated residences; 4,138 square feet on a 0.2437‑acre lot; Eight bedrooms and eight bathrooms identified in the room data
