Renovated Three-Residence
For Sale
$425,000
3107 E Belmont Ave, Fresno, CA 93722
Three homes share one parcel, with refreshed interiors and mini-split cooling across the residences.
Property Size1,759 SF
Price / SF$241.61
Days on Market14
Property Features for 3107 E Belmont Ave
General Information
Standard status
Active
Size
1,759 SF
Property subtype
Residential Income
Additional Details
Public Transit
Yes
Multifamily Units
3
Listing Agency:
London Properties, Ltd.
(559) 436-4000
Listed By:
Debra Henes
(559) 284-4449
Source:
Exprealty
Added: Sep 13
Changed: Sep 24
Last Checked: Sep 24 at 2:34PM
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 London Properties, Ltd.
Investment Insights
Based on property information with market context.
At 3107 E Belmont Ave in Fresno, this 1,759-square-foot triplex comprises three separate homes. The main residence has 3 bedrooms, 1 bathroom, a living room, dining room and kitchen. Its kitchen has new cabinets, countertops, sink, range, hood and refrigerator; the bathroom has a replacement bathtub. New flooring and interior doors complete the interior updates, and two mini-split A/C units provide cooling.
Two additional homes sit behind the main residence. Both have updated flooring, newer windows and new mini-split A/C units, along with refreshed interiors. The property offers three distinct living spaces on one lot.
Two additional homes sit behind the main residence. Both have updated flooring, newer windows and new mini-split A/C units, along with refreshed interiors. The property offers three distinct living spaces on one lot.
Key Highlights
- Three homes on one lot; property size is 1,759 square feet
- Main residence includes 3 bedrooms, 1 bathroom, living room, dining room and kitchen
- Main‑home kitchen has new cabinets, countertops, sink, range, hood and refrigerator
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
$20,461
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
4.81%
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%
$409,220
$409.2K
Cap Rate 7%
$292,300
$292.3K
Cap Rate 9%
$227,344
$227.3K
Market Conditions
NOI Build-Up for 1,759 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
$30.6K $17.40/SF
− Vacancy
−$1.4K −$0.78/SF
EGI
$29.2K $16.62/SF
− OpEx
−$8.8K −$4.99/SF
NOI
$20.5K $11.63/SF
Area
ZIP 93722
Vacancy
4.50%
Lease Rate
$17.40 /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%
$409,220
Cap Rate 7%
$292,300
Cap Rate 9%
$227,344
Alternative Uses
Best Use
Multifamily LT 5
$292.3K
$255.8K – $341.0K
NOI $20,461 @ 7.0% cap · market cap 4.81%
Second Best
Apartment 5plus
$262.2K
$229.4K – $305.9K
NOI $18,351 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$374.9K
$328.0K – $437.4K
NOI $26,241 @ 7.0% cap · market cap 6.17%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,779
Businesses Nearby
Explore this area
Business Placement
Demographics for 93722, CA
87,364
Population
27,615
Households
3.2
Avg Household Size
32
Median Age
23%
College-Educated
83%
High-School Grad
19.3 sq mi
ZIP Area
4,527
Density / Sq Mi
$77,335
Median Household Income
$41,364
Median Earnings
$1,529
Median Rent
$350,700
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?
Triplex - Three homes share one parcel, with refreshed interiors and mini-split cooling across the residences.
Where is this triplex located?
The property is located at 3107 E Belmont Ave Fresno, CA.
What is the asking price?
The asking price for this property is $425,000.
What are key features of this property?
This property features: Three homes on one lot; property size is 1,759 square feet; Main residence includes 3 bedrooms, 1 bathroom, living room, dining room and kitchen; Main‑home kitchen has new cabinets, countertops, sink, range, hood and refrigerator
