4-Unit Two-Story Apartment
New
For Sale
$565,000
337 N San Pablo Ave, Fresno, CA 93701
Three apartments are rented, while the fourth remains available for occupancy.
Property Size4,350 SF
Price / SF$129.89
Days on Market6
Property Features for 337 N San Pablo Ave
General Information
Standard status
Active
Size
4,350 SF
Property subtype
Residential Income
Additional Details
Multifamily Units
4
Building Details
Buildings
1
Stories
2
Listing Agency:
Realty Unlimited Group
(559) 221-3170
Listed By:
Amanda Santana
(559) 283-9850
Source:
Exprealty
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 4 at 6:43PM
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 Realty Unlimited Group
Investment Insights
Based on property information with market context.
This two-story fourplex in Fresno contains approximately 4,350 square feet, with 12 bedrooms and 4 bathrooms across its four units. Three units are currently rented. Work to renew the asphalt at the rear of the property is underway.
Key Highlights
- Four‑unit, two‑story apartment building
- Approximately 4,350 square feet
- 12 bedrooms and 4 bathrooms
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
$49,912
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
8.83%
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%
$998,240
$998.2K
Cap Rate 7%
$713,029
$713.0K
Cap Rate 9%
$554,578
$554.6K
Market Conditions
NOI Build-Up for 4,350 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
$95.5K $21.96/SF
− Vacancy
−$4.8K −$1.10/SF
EGI
$90.7K $20.86/SF
− OpEx
−$40.8K −$9.39/SF
NOI
$49.9K $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /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%
$998,240
Cap Rate 7%
$713,029
Cap Rate 9%
$554,578
Alternative Uses
Best Use
Multifamily LT 5
$813.9K
$712.2K – $949.6K
NOI $56,975 @ 7.0% cap · market cap 10.08%
Second Best
Apartment 5plus
$713.0K
$623.9K – $831.9K
NOI $49,912 @ 7.0% cap · market cap 8.83%
Theoretical Best
Office A
$1.28M
$1.12M – $1.50M
NOI $89,732 @ 7.0% cap · market cap 15.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
2,112
Businesses Nearby
Explore this area
Business Placement
Demographics for 93701, CA
12,037
Population
3,836
Households
3.1
Avg Household Size
28
Median Age
7%
College-Educated
48%
High-School Grad
1.5 sq mi
ZIP Area
8,025
Density / Sq Mi
$32,192
Median Household Income
$26,875
Median Earnings
$926
Median Rent
$207,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Three apartments are rented, while the fourth remains available for occupancy.
Where is this quadplex located?
The property is located at 337 N San Pablo Ave Fresno, CA.
What is the asking price?
The asking price for this property is $565,000.
What are key features of this property?
This property features: Four‑unit, two‑story apartment building; Approximately 4,350 square feet; 12 bedrooms and 4 bathrooms
