Renovated Duplex with
New
For Sale
$375,000
3137 Townsend Avenue, Fresno, CA 93702
Multi-Family, Fresno, CA
Property Size2,116 SF
Lot Size0.12 Acres
Price / SF$177.22
Days on Market6
Property Features for 3137 Townsend Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Zoning
Multi family
Parking features
Carport
Directions
From Cedar & Butler go West on Butler 2nd street. South on 2nd Street to Townsend, right on Townsend
Subdivision
Fresno
Standard status
Active
APN
47103212
Size
2,116 SF
Lot size
0.12 Acres
Utilities
Heating system
Wall Furnace
Building Details
Floors in Building
1
Listing Agency:
Berkshire Hathaway HomeServices California Realty - Visalia
Listed By:
Jose E Briseno
(559) 415-5159
Added: Sep 18
Changed: Sep 21
Last Checked: Sep 23 at 12:06PM
MLS# 235004
Copyright © 2026 Kings County Board 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 duplex contains two residential units, each with three bedrooms and two bathrooms. The units total 2,116 square feet and feature spacious open-concept interiors. Renovation work has been completed, and the property includes a carport and wall-furnace heating.
The 0.1205-acre lot is located at 3137 Townsend Avenue in Fresno, California 93702. Multi-family zoning supports the property's duplex configuration. The layout offers two separate residences within one building, with each unit providing a three-bedroom, two-bathroom arrangement.
The 0.1205-acre lot is located at 3137 Townsend Avenue in Fresno, California 93702. Multi-family zoning supports the property's duplex configuration. The layout offers two separate residences within one building, with each unit providing a three-bedroom, two-bathroom arrangement.
Key Highlights
- Two‑unit duplex with three bedrooms and two bathrooms in each unit
- 2,116 square feet of total property size
- Renovated interiors with open‑concept layouts
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
$27,715
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
7.39%
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%
$554,300
$554.3K
Cap Rate 7%
$395,929
$395.9K
Cap Rate 9%
$307,944
$307.9K
Market Conditions
NOI Build-Up for 2,116 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
$41.9K $19.80/SF
− Vacancy
−$2.3K −$1.09/SF
EGI
$39.6K $18.71/SF
− OpEx
−$11.9K −$5.61/SF
NOI
$27.7K $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%
$554,300
Cap Rate 7%
$395,929
Cap Rate 9%
$307,944
Alternative Uses
Best Use
Multifamily LT 5
$395.9K
$346.4K – $461.9K
NOI $27,715 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$355.6K
$311.1K – $414.8K
NOI $24,890 @ 7.0% cap · market cap 6.64%
Theoretical Best
Office A
$516.4K
$451.8K – $602.4K
NOI $36,146 @ 7.0% cap · market cap 9.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
768
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
Check the figures for this property
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?
Duplex - Two spacious three-bedroom units offer flexible owner-occupant or rental use in a renovated duplex.
Where is this duplex located?
The property is located at 3137 Townsend Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Two‑unit duplex with three bedrooms and two bathrooms in each unit; 2,116 square feet of total property size; Renovated interiors with open‑concept layouts
