Four-Unit Quadplex with
For Sale
$599,000
3361 E McKinley Avenue, Fresno, CA 93703
Fully occupied residential property with upgraded garages, shared outdoor space, fencing, and resident laundry amenities.
Property Size2,418 SF
Days on Market73
Property Features for 3361 E McKinley Avenue
General Information
Standard status
Active
Size
2,418 SF
Property subtype
Multi Family Home
Occupancy
100%
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
wrought-iron fence
spacious grassy common area
generously sized backyard
on-site laundry room
Building Details
Building Size
2,418 SF
Year Built
1949
Stories
1
Units
4
Listing Agency:
Real Broker
(559) 721-4313
Listed By:
Richard A. Jackson Jr · License #01941368
(559) 721-4313
Source:
Coalingamidstaterealty
Added: Jun 1
Changed: Aug 6
Last Checked: Aug 11 at 1:40PM
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 Real Broker
Investment Insights
Based on property information with market context.
Built in 1949, this four-unit residential property is fully occupied and includes four garages that have recently been upgraded. A front wrought-iron fence provides a defined entry, while the grounds include a grassy shared area and a large backyard suited to resident outdoor use. An on-site laundry room adds a practical amenity and an additional income source for ownership.
The property is positioned near shopping, dining, schools, and the airport, with freeway access available for regional commuting. Its combination of occupied units, garage improvements, outdoor areas, and on-site laundry creates a straightforward multifamily configuration with established resident amenities.
The property is positioned near shopping, dining, schools, and the airport, with freeway access available for regional commuting. Its combination of occupied units, garage improvements, outdoor areas, and on-site laundry creates a straightforward multifamily configuration with established resident amenities.
Key Highlights
- Four‑unit property built in 1949
- Fully occupied with long‑term tenants in place
- All four garages recently upgraded
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
$31,670
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
5.29%
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%
$633,400
$633.4K
Cap Rate 7%
$452,429
$452.4K
Cap Rate 9%
$351,889
$351.9K
Market Conditions
NOI Build-Up for 2,418 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
$47.9K $19.80/SF
− Vacancy
−$2.6K −$1.09/SF
EGI
$45.2K $18.71/SF
− OpEx
−$13.6K −$5.61/SF
NOI
$31.7K $13.10/SF
Area
Fresno, CA
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%
$633,400
Cap Rate 7%
$452,429
Cap Rate 9%
$351,889
Alternative Uses
Best Use
Multifamily LT 5
$452.4K
$395.9K – $527.8K
NOI $31,670 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$396.3K
$346.8K – $462.4K
NOI $27,744 @ 7.0% cap · market cap 4.63%
Theoretical Best
Office A
$712.6K
$623.5K – $831.3K
NOI $49,879 @ 7.0% cap · market cap 8.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
418
Businesses Nearby
Explore this area
Business Placement
Demographics for 93703, CA
34,840
Population
11,155
Households
3.1
Avg Household Size
31
Median Age
9%
College-Educated
72%
High-School Grad
4.8 sq mi
ZIP Area
7,258
Density / Sq Mi
$43,236
Median Household Income
$30,359
Median Earnings
$1,204
Median Rent
$250,200
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?
Quadplex - Fully occupied residential property with upgraded garages, shared outdoor space, fencing, and resident laundry amenities.
Where is this quadplex located?
The property is located at 3361 E McKinley Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: Four‑unit property built in 1949; Fully occupied with long‑term tenants in place; All four garages recently upgraded
