5-Unit Apartment
New
For Sale
$1,250,000
Pending
3511 Mccall Avenue, Selma, CA 93662
Recently built multifamily property with private outdoor space and attached garages for each unit.
Property Size6,945 SF
Days on Market3
Property Features for 3511 Mccall Avenue
General Information
Standard status
Pending
Size
6,945 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
5 x 3BR/2.5BA
Multifamily Units
5
Amenities
private backyard
durable block fence
Building Details
Year Built
2020
Listing Agency:
RPS Real Estate Of Kingsburg
(559) 213-7514
Listed By:
Ramza Coury · License #DRE #01829838
(559) 213-7514
Source:
Exitrealty
Added: Aug 12
Changed: Aug 14
Last Checked: Aug 14 at 5:01AM
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 RPS Real Estate Of Kingsburg
Investment Insights
Based on property information with market context.
Completed in 2020, this 6,945-square-foot apartment property contains five rental units, each configured with 3 bedrooms and 2.5 bathrooms. Every residence includes a private backyard, an attached garage, additional on-site parking, and enclosure provided by a durable block fence. The property offers a consistent unit layout across the building and contemporary construction for a relatively recent vintage.
Located at 3511 McCall Avenue in Selma, the property is positioned near McCall and Nelson. All five units are occupied by long-term tenants who wish to remain, providing a fully leased operating profile at the time of marketing.
Located at 3511 McCall Avenue in Selma, the property is positioned near McCall and Nelson. All five units are occupied by long-term tenants who wish to remain, providing a fully leased operating profile at the time of marketing.
Key Highlights
- Five‑unit apartment property completed in 2020
- 6,945 square feet with five units
- Each unit includes 3 bedrooms and 2.5 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
$87,824
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
7.03%
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%
$1,756,480
$1.8M
Cap Rate 7%
$1,254,629
$1.3M
Cap Rate 9%
$975,822
$975.8K
Market Conditions
NOI Build-Up for 6,945 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
$166.7K $24.00/SF
− Vacancy
−$7.0K −$1.01/SF
EGI
$159.7K $22.99/SF
− OpEx
−$71.9K −$10.35/SF
NOI
$87.8K $12.65/SF
Area
Fresno County, CA
Vacancy
4.20%
Lease Rate
$24.00 /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%
$1,756,480
Cap Rate 7%
$1,254,629
Cap Rate 9%
$975,822
Alternative Uses
Best Use
Apartment 5plus
$1.25M
$1.10M – $1.46M
NOI $87,824 @ 7.0% cap · market cap 7.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.97M
$1.72M – $2.30M
NOI $137,787 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
153
Businesses Nearby
Explore this area
Business Placement
Demographics for 93662, CA
30,774
Population
9,810
Households
3.1
Avg Household Size
33
Median Age
13%
College-Educated
73%
High-School Grad
77.9 sq mi
ZIP Area
395
Density / Sq Mi
$56,735
Median Household Income
$34,406
Median Earnings
$1,220
Median Rent
$297,800
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 - Recently built multifamily property with private outdoor space and attached garages for each unit.
Where is this apartment building located?
The property is located at 3511 Mccall Avenue Selma, CA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Five‑unit apartment property completed in 2020; 6,945 square feet with five units; Each unit includes 3 bedrooms and 2.5 bathrooms
