4-Unit Multifamily
307 S Crespi Avenue, Exeter, CA 93221
For Sale
New
$799,900
Two duplex buildings occupy one parcel, with indoor laundry and covered parking assigned to each residence.
Property Size4,600 SF
Price / SF$173.89
Days on Market2
Property Features for 307 S Crespi Avenue
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
indoor laundry
storage unit
Building Details
Building Size
Year Built
Year Renovated
Buildings
Units
Listing Agency:
Gutierrez Appraisals & Realty
Listed By:
Otoniel Gutierrez
(559) 679-7267
Source:
Clovisrealestate
Added: Nov 6
Last Checked: Nov 6 at 2:38PM
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 Gutierrez Appraisals & Realty
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Investment Insights
Based on property information with market context.
The property comprises two duplexes on one lot, totaling 4,600 square feet. Each of the four residences has two bedrooms and one bathroom, along with indoor laundry and a storage unit. Designated covered parking is provided for each unit.
Interiors and exteriors were remodeled in 2018. Improvements included kitchen cabinets, countertops and appliances, bathroom vanities and shower inserts, updated flooring, a new roof, and HVAC systems. The property is within walking distance of Exeter High School and Lincoln Elementary.
Interiors and exteriors were remodeled in 2018. Improvements included kitchen cabinets, countertops and appliances, bathroom vanities and shower inserts, updated flooring, a new roof, and HVAC systems. The property is within walking distance of Exeter High School and Lincoln Elementary.
Key Highlights
- Four units across two duplex buildings on one lot
- 4,600 square feet total
- Each unit has 2 bedrooms, 1 bathroom, indoor laundry, and a storage unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$41,565
Cap Rate
5.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$831,300
$831.3K
Cap Rate 7%
$593,786
$593.8K
Cap Rate 9%
$461,833
$461.8K
Market Conditions
NOI Build-Up for 4,600 SF
Gross rent
$63.5K $13.80/SF
− Vacancy
−$4.1K −$0.89/SF
EGI
$59.4K $12.91/SF
− OpEx
−$17.8K −$3.87/SF
NOI
$41.6K $9.04/SF
Area
Tulare County, 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 Rate 5%
$831,300
Cap Rate 7%
$593,786
Cap Rate 9%
$461,833
Alternative Uses
Best Use
Multifamily LT 5
$593.8K
$519.6K – $692.8K
NOI $41,565 @ 7.0% cap · market cap 5.20%
Second Best
Apartment 5plus
$545.7K
$477.5K – $636.7K
NOI $38,199 @ 7.0% cap · market cap 4.78%
Theoretical Best
Specialty Retail
$1.40M
$1.22M – $1.63M
NOI $97,808 @ 7.0% cap · market cap 12.23%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
588
Businesses Nearby
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Business Placement
Demographics for 93221, CA
15,024
Population
5,046
Households
3
Avg Household Size
37
Median Age
19%
College-Educated
85%
High-School Grad
132.1 sq mi
ZIP Area
114
Density / Sq Mi
$84,121
Median Household Income
$39,138
Median Earnings
$1,267
Median Rent
$324,000
Median Home Value
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Market
Average Price Trend$/SF for Multifamily properties in Tulare County, CA
Properties on Market for Multifamily properties in Tulare County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two duplex buildings occupy one parcel, with indoor laundry and covered parking assigned to each residence.
Where is this multifamily property located?
The property is located at 307 S Crespi Avenue Exeter, CA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Four units across two duplex buildings on one lot; 4,600 square feet total; Each unit has 2 bedrooms, 1 bathroom, indoor laundry, and a storage unit
