Renovated Triplex with Covered
New
For Sale
$425,000
3107 E Belmont Avenue, Fresno, CA 93702
Multi Family, Fresno, CA
Property Size1,759 SF
Lot Size0.12 Acres
Price / SF$241.61
Days on Market5
Property Features for 3107 E Belmont Avenue
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
5
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 4, Bedroom 5, Bathroom 1, Bedroom 1, Bedroom 2, Bedroom 3, Bathroom 2, Bathroom 3
Parking features
Covered
Exterior features
Stucco
High school district
Fresno Unified
Directions
Near the NE Corner of Belmont and First.
Subdivision
702
Standard status
Active
APN
45426114
Size
1,759 SF
Lot size
0.12 Acres
Building Details
Year built
1920
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
London Properties, Ltd.
Listed By:
Debra Henes
(559) 436-4000
Added: Sep 13
Changed: Sep 17
Last Checked: Sep 17 at 9:06PM
MLS# 655185
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 1,759-square-foot triplex sits on a 0.1205-acre lot and includes three separate homes. The primary residence at 3119 E. Belmont Avenue has three bedrooms, one bathroom, living and dining rooms, and a remodeled kitchen with new cabinetry, countertops, sink, range, hood, and refrigerator. New flooring, interior doors, paint, and a bathtub complete the updates, while two mini-split A/C units provide cooling.
The two additional residences at 3107 and 3109 E. Belmont Avenue are positioned behind the main home. Both feature fresh paint, newer windows, new flooring, and new mini-split A/C units. The property was built in 1920, has stucco exterior construction, a composition roof, and covered parking. Shopping and public transportation are located nearby.
The two additional residences at 3107 and 3109 E. Belmont Avenue are positioned behind the main home. Both feature fresh paint, newer windows, new flooring, and new mini-split A/C units. The property was built in 1920, has stucco exterior construction, a composition roof, and covered parking. Shopping and public transportation are located nearby.
Key Highlights
- Three homes on one 0.1205‑acre lot
- 1,759 square feet with three separate living spaces
- Main residence includes 3 bedrooms and 1 bathroom
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
$23,039
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
5.42%
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%
$460,780
$460.8K
Cap Rate 7%
$329,129
$329.1K
Cap Rate 9%
$255,989
$256.0K
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
$34.8K $19.80/SF
− Vacancy
−$1.9K −$1.09/SF
EGI
$32.9K $18.71/SF
− OpEx
−$9.9K −$5.61/SF
NOI
$23.0K $13.10/SF
Area
ZIP 93702
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 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%
$460,780
Cap Rate 7%
$329,129
Cap Rate 9%
$255,989
Alternative Uses
Best Use
Multifamily LT 5
$329.1K
$288.0K – $384.0K
NOI $23,039 @ 7.0% cap · market cap 5.42%
Second Best
Apartment 5plus
$295.6K
$258.6K – $344.9K
NOI $20,691 @ 7.0% cap · market cap 4.87%
Theoretical Best
Office A
$429.3K
$375.6K – $500.8K
NOI $30,048 @ 7.0% cap · market cap 7.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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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 93702, CA
45,741
Population
13,386
Households
3.4
Avg Household Size
29
Median Age
9%
College-Educated
57%
High-School Grad
5.2 sq mi
ZIP Area
8,796
Density / Sq Mi
$44,849
Median Household Income
$27,486
Median Earnings
$1,110
Median Rent
$211,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three distinct living spaces feature refreshed interiors and individual mini-split cooling systems.
Where is this triplex located?
The property is located at 3107 E Belmont Avenue 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 0.1205‑acre lot; 1,759 square feet with three separate living spaces; Main residence includes 3 bedrooms and 1 bathroom
