Building Details

Year Built 1981

Listing Agency: Realty Concepts, Ltd. - Fresno Show Phone

Listed By: Tom Schlegel · License #DRE #01291015 Show Phone

Source: Exitrealty

Added: Jul 31 Changed: Oct 6 Last Checked: Oct 5 at 4:16PM

Report an Issue

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

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

This 1981-built triplex contains two two-bedroom, two-bath residences and one three-bedroom, two-bath residence. Each unit includes living and dining areas with a fireplace, walk-in closets, a kitchen with an electric stove/oven, disposal, microwave hood, pantry space, and cabinetry. Laundry rooms or closets provide hookups for full-size washers and dryers. Two residences have vaulted ceilings.

Garage capacity includes two attached two-car garages, one one-car garage, and a covered carport. Outdoor areas include two private patios at the front residence, shared green space serving the middle residence, and a private backyard for the rear residence. The property is located within the Clovis Unified School District at 284 W Lexington Avenue in Fresno, California. Tenant occupancy durations are reported at more than 10 years, 7 years, and 2 years.

Key Highlights

• Two 2‑bedroom/2‑bath units and one 3‑bedroom/2‑bath unit
• Two attached 2‑car garages, one 1‑car garage, and a covered carport
• Fireplaces in every unit; vaulted ceilings in two residences

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$42,122

Cap Rate

4.96%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$842,440 $842.4K

Cap Rate 7%

$601,743 $601.7K

Cap Rate 9%

$468,022 $468.0K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,216 SF

Gross rent

$63.7K $19.80/SF

− Vacancy

−$3.5K −$1.09/SF

EGI

$60.2K $18.71/SF

− OpEx

−$18.1K −$5.61/SF

NOI

$42.1K $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 Rate 5%

$842,440

Cap Rate 7%

$601,743

Cap Rate 9%

$468,022

Alternative Uses

Best Use

Multifamily LT 5

$601.7K

$526.5K – $702.0K (±1% cap)

NOI $42,122 @ 7.0% cap · market cap 4.96%

Second Best

Apartment 5plus

$527.2K

$461.3K – $615.0K (±1% cap)

NOI $36,901 @ 7.0% cap · market cap 4.34%

Theoretical Best

Office A

$947.7K

$829.3K – $1.11M (±1% cap)

NOI $66,340 @ 7.0% cap · market cap 7.80%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Unlock full access to Insights Subscribe to Realmo Intelligence

Open Analytics

Current Use

Triplexes

Suggested Use

Top Pick Acupuncture Daycare Center (Bike/Boat/Book/etc) Store Auto Parts Store Tanning Salon Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,378

Businesses Nearby

Explore this area Business Placement

Demographics for 93711, CA

37,901

Population

16,643

Households

2.3

Avg Household Size

43

Median Age

46%

College-Educated

93%

High-School Grad

11.2 sq mi

ZIP Area

3,384

Density / Sq Mi

$97,492

Median Household Income

$53,122

Median Earnings

$1,561

Median Rent

$469,800

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Similar For Sale Nearby

See more

Triplex with Detached Garages

6415 N Remington Avenue, Fresno, CA 93704

$799,900

3,496 SF

View details

Triplex with Separate Dwellings

4924 N Arthur Avenue, Fresno, CA 93705

$950,000

2,668 SF

View details

Triplex With Garage Access

6250 N Fresno Street, Fresno, CA 93710

$650,000

2,802 SF

View details

Newly Built Solar Triplex

2343 N Arthur Ave, Fresno, CA 93705

$899,950

2,472 SF

View details

Triplex With Owned Solar

2331 N Arthur Avenue, Fresno, CA 93705

$930,000

2,472 SF

View details

Fully Occupied Triplex

1361 N Archie Avenue, Fresno, CA 93703

$499,900

2,732 SF

View details

3-Unit Triplex with Garages

1232 Delno AVE, Fresno, CA 93728

$435,000

2,560 SF

View details

Triplex With Detached Residence

1250 E Vassar Avenue, Fresno, CA 93704

$540,000

2,252 SF

View details

Renovated Triplex with Covered Parking

3107 E Belmont Avenue, Fresno, CA 93702

$425,000

1,759 SF

View details

Renovated 4-Unit Quadplex

2311 E White Avenue, Fresno, CA 93701

$725,000

3,304 SF

View details

Updated Duplex With Two Residences

5358 W Clinton Avenue, Fresno, CA 93722

$755,000

3,397 SF

View details

4-Unit Apartment Building

2721 E Hammond Avenue, Fresno, CA 93703

$675,000

3,348 SF

View details

Frequently Asked Questions

What type of property is this?

Triplex - Three residences offer varied bedroom layouts, private and shared outdoor areas, and dedicated laundry hookups.

Where is this triplex located?

The property is located at 284 W Lexington Avenue Fresno, CA.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Two 2‑bedroom/2‑bath units and one 3‑bedroom/2‑bath unit; Two attached 2‑car garages, one 1‑car garage, and a covered carport; Fireplaces in every unit; vaulted ceilings in two residences