Well-Maintained Fourplex
For Sale
$899,000
3420 N Van Ness Boulevard, Fresno, CA 93704
Income-producing 4-plex with separate laundry hookups and recent exterior and roof upgrades.
Property Size4,590 SF
Price / SF$195.86
Days on Market103
Property Features for 3420 N Van Ness Boulevard
General Information
Standard status
Active
Size
4,590 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
4
Amenities
laundry hookups
Building Details
Year Built
1971
Listing Agency:
HomeSmart PV and Associates
(559) 367-4799
Listed By:
Melissa M. Bowen · License #01980682
(559) 367-4799
Source:
Exitrealty
Added: May 2
Changed: Aug 8
Last Checked: Aug 12 at 4:40AM
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 HomeSmart PV and Associates
Investment Insights
Based on property information with market context.
This income-producing fourplex has been well maintained and managed by long-term owners, with very low expenses. Recent improvements include a new roof completed in 2018 and exterior painting completed within the last several years. Unit 101 was completely remodeled. Each unit offers its own laundry hookups, supporting convenient, self-contained living.
The property is tucked away on a cul-de-sac in Fresno. The four units are identical in size.
Each unit measures 1,148 square feet, and the overall property size is 4,590 square feet.
The property is tucked away on a cul-de-sac in Fresno. The four units are identical in size.
Each unit measures 1,148 square feet, and the overall property size is 4,590 square feet.
Key Highlights
- Income‑producing 4‑plex built in 1971 with long‑term ownership history
- 2018 new roof and exterior painted within the last several years
- Unit 101 completely remodeled
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
$60,118
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
6.69%
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%
$1,202,360
$1.2M
Cap Rate 7%
$858,829
$858.8K
Cap Rate 9%
$667,978
$668.0K
Market Conditions
NOI Build-Up for 4,590 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
$90.9K $19.80/SF
− Vacancy
−$5.0K −$1.09/SF
EGI
$85.9K $18.71/SF
− OpEx
−$25.8K −$5.61/SF
NOI
$60.1K $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%
$1,202,360
Cap Rate 7%
$858,829
Cap Rate 9%
$667,978
Alternative Uses
Best Use
Multifamily LT 5
$858.8K
$751.5K – $1.00M
NOI $60,118 @ 7.0% cap · market cap 6.69%
Second Best
Apartment 5plus
$752.4K
$658.3K – $877.8K
NOI $52,666 @ 7.0% cap · market cap 5.86%
Theoretical Best
Office A
$1.35M
$1.18M – $1.58M
NOI $94,683 @ 7.0% cap · market cap 10.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
166
Businesses Nearby
Explore this area
Business Placement
Demographics for 93704, CA
28,573
Population
12,165
Households
2.3
Avg Household Size
38
Median Age
35%
College-Educated
90%
High-School Grad
5.4 sq mi
ZIP Area
5,291
Density / Sq Mi
$69,659
Median Household Income
$45,965
Median Earnings
$1,392
Median Rent
$366,000
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 - Income-producing 4-plex with separate laundry hookups and recent exterior and roof upgrades.
Where is this quadplex located?
The property is located at 3420 N Van Ness Boulevard Fresno, CA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Income‑producing 4‑plex built in 1971 with long‑term ownership history; 2018 new roof and exterior painted within the last several years; Unit 101 completely remodeled
