Tenant-Occupied Duplex with Two
For Sale
$314,900
365 N Echo Ave, Fresno, CA 93701
Two separately configured residences share one lot, with both units currently occupied by tenants.
Property Size1,626 SF
Price / SF$193.67
Days on Market140
Property Features for 365 N Echo Ave
General Information
Standard status
Active
Size
1,626 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA, 1 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1923
Buildings
2
Listing Agency:
eXp Realty of Greater Los Angeles, inc.
(559) 246-4905
Listed By:
Marie Meza · License #01772801
Source:
Sacramentoareahouses
Added: Apr 14
Changed: Aug 30
Last Checked: Aug 30 at 5:57PM
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 eXp Realty of Greater Los Angeles, inc.
Investment Insights
Based on property information with market context.
This duplex at 365 N Echo Ave includes two residential units totaling 1,626 square feet. The front residence offers two bedrooms, one bathroom, hardwood flooring in the living areas and bedrooms, a formal dining room, a built-in dining-room cabinet, and custom living-room shelving. Its bathroom has been updated, and the layout provides substantial interior space.
The rear residence contains one bedroom and one bathroom, along with newer kitchen cabinetry and countertops, LVP flooring throughout, and a mini-split heating and cooling system. Alley access serves the rear unit. Built in 1923, the property is fully occupied by tenants, providing an existing residential income configuration in Fresno.
The rear residence contains one bedroom and one bathroom, along with newer kitchen cabinetry and countertops, LVP flooring throughout, and a mini-split heating and cooling system. Alley access serves the rear unit. Built in 1923, the property is fully occupied by tenants, providing an existing residential income configuration in Fresno.
Key Highlights
- Two residential units on one lot, both currently tenant‑occupied
- 1,626 square feet of total property size
- Front unit includes 2 bedrooms, 1 bathroom, hardwood floors, and a formal dining room
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
$21,297
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
6.76%
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%
$425,940
$425.9K
Cap Rate 7%
$304,243
$304.2K
Cap Rate 9%
$236,633
$236.6K
Market Conditions
NOI Build-Up for 1,626 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
$32.2K $19.80/SF
− Vacancy
−$1.8K −$1.09/SF
EGI
$30.4K $18.71/SF
− OpEx
−$9.1K −$5.61/SF
NOI
$21.3K $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%
$425,940
Cap Rate 7%
$304,243
Cap Rate 9%
$236,633
Alternative Uses
Best Use
Multifamily LT 5
$304.2K
$266.2K – $355.0K
NOI $21,297 @ 7.0% cap · market cap 6.76%
Second Best
Apartment 5plus
$266.5K
$233.2K – $311.0K
NOI $18,657 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$479.2K
$419.3K – $559.0K
NOI $33,541 @ 7.0% cap · market cap 10.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
995
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
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately configured residences share one lot, with both units currently occupied by tenants.
Where is this duplex located?
The property is located at 365 N Echo Ave Fresno, CA.
What is the asking price?
The asking price for this property is $314,900.
What are key features of this property?
This property features: Two residential units on one lot, both currently tenant‑occupied; 1,626 square feet of total property size; Front unit includes 2 bedrooms, 1 bathroom, hardwood floors, and a formal dining room
