7-Unit Apartment
For Sale
$1,001,000
310 Center Street, Hanford, CA 93230
Two separate parcels support a well-maintained multifamily property with central HVAC and on-site laundry.
Property Size5,109 SF
Lot Size0.32 Acres
Price / SF$195.93
Days on Market175
Property Features for 310 Center Street
General Information
Standard status
Active
Size
5,109 SF
Lot size
0.32 Acres
Property subtype
Apartment
Occupancy
100%
Units
Unit Mix
6 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
7
Parking per Unit
1.5
Additional Details
Utilities to Site
Yes
Amenities
onsite coin-operated laundry
Central
Composition
Building Details
Year Built
1983
Stories
1
Listing Agency:
Savvy Enterprises
(559) 786-2168
Listed By:
Travis Beck · License #02059371
(559) 786-2168
Source:
Kw
Added: Mar 11
Changed: Aug 31
Last Checked: Aug 31 at 12:44AM
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 Savvy Enterprises
Investment Insights
Based on property information with market context.
This multifamily property comprises seven apartments across two separate APNs at 310 and 314 Center St. The unit mix includes six two-bedroom, one-bath residences and one one-bedroom, one-bath residence, with approximately 5,109 square feet of building area. Constructed in 1983, the property includes central heating and cooling, individually metered gas and electric service, and an on-site coin-operated laundry facility.
The 14,080-square-foot lot provides approximately 1.5 parking spaces per unit. Minimal landscaping reduces exterior upkeep, while the property’s established Hanford setting supports an income-producing residential configuration. All units are currently occupied.
The 14,080-square-foot lot provides approximately 1.5 parking spaces per unit. Minimal landscaping reduces exterior upkeep, while the property’s established Hanford setting supports an income-producing residential configuration. All units are currently occupied.
Key Highlights
- Seven‑unit configuration with six 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit
- Approximately 5,109 sq ft of building area on a 14,080 sq ft lot
- Two separate APNs at 310 and 314 Center St in Hanford
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
$55,856
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
5.58%
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%
$1,117,120
$1.1M
Cap Rate 7%
$797,943
$797.9K
Cap Rate 9%
$620,622
$620.6K
Market Conditions
NOI Build-Up for 5,109 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
$106.7K $20.88/SF
− Vacancy
−$5.1K −$1.00/SF
EGI
$101.6K $19.88/SF
− OpEx
−$45.7K −$8.94/SF
NOI
$55.9K $10.93/SF
Area
Kings County, CA
Vacancy
4.80%
Lease Rate
$20.88 /SF/Yr
Expense Ratio
45.00%
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%
$1,117,120
Cap Rate 7%
$797,943
Cap Rate 9%
$620,622
Alternative Uses
Best Use
Apartment 5plus
$797.9K
$698.2K – $930.9K
NOI $55,856 @ 7.0% cap · market cap 5.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.61M
$1.41M – $1.88M
NOI $112,990 @ 7.0% cap · market cap 11.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
2,000
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Apartment building - Two separate parcels support a well-maintained multifamily property with central HVAC and on-site laundry.
Where is this apartment building located?
The property is located at 310 Center Street Hanford, CA.
What is the asking price?
The asking price for this property is $1,001,000.
What are key features of this property?
This property features: Seven‑unit configuration with six 2‑bedroom/1‑bath units and one 1‑bedroom/1‑bath unit; Approximately 5,109 sq ft of building area on a 14,080 sq ft lot; Two separate APNs at 310 and 314 Center St in Hanford
