5-Unit Apartment
For Sale
$700,000
382 North Glenn Avenue Unit AE, Fresno, CA 93701
Vacant apartment property with onsite laundry and security gates.
Property Size4,260 SF
Price / SF$164.32
Days on Market189
Property Features for 382 North Glenn Avenue Unit AE
General Information
Standard status
Active
Size
4,260 SF
Property subtype
Multi Family / 5 to 15 Units
Lease Type
Net
Amenities
Floor or Wall Heat, Window or Wall A/C
Other
Stucco, Brick
Both
Building Details
Year Built
1966
Listing Agency:
Fresno Income Properties
Listed By:
Paul Gestic · License #01376488
(559) 438-9410
Source:
Compass
Added: Mar 13
Changed: Sep 17
Last Checked: Sep 16 at 8:30PM
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 Fresno Income Properties
Investment Insights
Based on property information with market context.
This 5-unit apartment building contains five 2-bedroom, 1-bathroom units within 4,260 square feet. The property includes an onsite laundry room, security gates, stucco and brick exterior elements, and heating and cooling through floor or wall heat and window or wall A/C. Originally built in 1966, the property received renovations in 2020 that included the roof, windows, kitchens, bathrooms, and security gates.
Located at 382 North Glenn Avenue, Unit AE, in Fresno, California, the building is vacant and will be delivered AS IS. Some units require interior work, while the existing improvements provide a documented starting point for further updates.
Located at 382 North Glenn Avenue, Unit AE, in Fresno, California, the building is vacant and will be delivered AS IS. Some units require interior work, while the existing improvements provide a documented starting point for further updates.
Key Highlights
- 5‑unit apartment property with five 2‑bedroom, 1‑bathroom units
- 4,260 square feet of apartment building area
- 2020 renovations included roof, windows, kitchens, bathrooms, and security gates
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
$48,880
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
6.98%
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%
$977,600
$977.6K
Cap Rate 7%
$698,286
$698.3K
Cap Rate 9%
$543,111
$543.1K
Market Conditions
NOI Build-Up for 4,260 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
$93.5K $21.96/SF
− Vacancy
−$4.7K −$1.10/SF
EGI
$88.9K $20.86/SF
− OpEx
−$40.0K −$9.39/SF
NOI
$48.9K $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%
$977,600
Cap Rate 7%
$698,286
Cap Rate 9%
$543,111
Alternative Uses
Best Use
Apartment 5plus
$698.3K
$611.0K – $814.7K
NOI $48,880 @ 7.0% cap · market cap 6.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.26M
$1.10M – $1.46M
NOI $87,875 @ 7.0% cap · market cap 12.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
3,129
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?
Apartment building - Vacant apartment property with onsite laundry and security gates.
Where is this apartment building located?
The property is located at 382 North Glenn Avenue Unit AE Fresno, CA.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: 5‑unit apartment property with five 2‑bedroom, 1‑bathroom units; 4,260 square feet of apartment building area; 2020 renovations included roof, windows, kitchens, bathrooms, and security gates
