Apartment Building With Carport
For Sale
$899,888
3345 East Fairmont Avenue, Fresno, CA 93726
Two-story property with updated interiors and separately metered gas and electric service.
Property Size4,800 SF
Price / SF$187.48
Days on Market368
Property Features for 3345 East Fairmont Avenue
General Information
Standard status
Active
Size
4,800 SF
Property subtype
Multi Family / 5 to 15 Units
Lease Type
Net
Amenities
Window or Wall A/C
Composition
Stucco, Brick
Concrete Perimeter
Building Details
Year Built
1966
Listing Agency:
London Properties-Clovis
(559) 212-4489
Listed By:
Jeffrey Kim · License #01456017
(559) 212-4489
Source:
Compass
Added: Aug 29, 2025
Changed: Aug 30
Last Checked: Aug 30 at 1:05PM
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-Clovis
Investment Insights
Based on property information with market context.
This two-story apartment building contains six residential units totaling approximately 4,800 square feet. Each unit offers a two-bedroom, one-bath layout with approximately 800 square feet, updated interiors, and window or wall air conditioning. The property was built in 1966 and includes on-site carport parking.
All six units are leased. Gas and electric service are separately metered, while the owner covers water, sewer, and trash. The property is located near Shaw and First in a retail corridor with access to Highways 41 and 168. Exterior construction includes stucco and brick, with a concrete perimeter foundation.
All six units are leased. Gas and electric service are separately metered, while the owner covers water, sewer, and trash. The property is located near Shaw and First in a retail corridor with access to Highways 41 and 168. Exterior construction includes stucco and brick, with a concrete perimeter foundation.
Key Highlights
- Six‑unit apartment building with all units leased
- Each unit has 2 bedrooms, 1 bath, and approximately 800 sq. ft.
- 4,800‑square‑foot building constructed in 1966
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
$51,163
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
5.69%
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%
$1,023,260
$1.0M
Cap Rate 7%
$730,900
$730.9K
Cap Rate 9%
$568,478
$568.5K
Market Conditions
NOI Build-Up for 4,800 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
$97.9K $20.40/SF
− Vacancy
−$4.9K −$1.02/SF
EGI
$93.0K $19.38/SF
− OpEx
−$41.9K −$8.72/SF
NOI
$51.2K $10.66/SF
Area
ZIP 93726
Vacancy
5.00%
Lease Rate
$20.40 /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%
$1,023,260
Cap Rate 7%
$730,900
Cap Rate 9%
$568,478
Alternative Uses
Best Use
Apartment 5plus
$730.9K
$639.5K – $852.7K
NOI $51,163 @ 7.0% cap · market cap 5.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$995.3K
$870.9K – $1.16M
NOI $69,673 @ 7.0% cap · market cap 7.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,767
Businesses Nearby
Explore this area
Business Placement
Demographics for 93726, CA
42,366
Population
15,744
Households
2.7
Avg Household Size
31
Median Age
17%
College-Educated
78%
High-School Grad
6.4 sq mi
ZIP Area
6,620
Density / Sq Mi
$51,913
Median Household Income
$31,697
Median Earnings
$1,254
Median Rent
$271,800
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?
Apartment building - Two-story property with updated interiors and separately metered gas and electric service.
Where is this apartment building located?
The property is located at 3345 East Fairmont Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $899,888.
What are key features of this property?
This property features: Six‑unit apartment building with all units leased; Each unit has 2 bedrooms, 1 bath, and approximately 800 sq. ft.; 4,800‑square‑foot building constructed in 1966
