Four-Unit Apartment
For Sale
$615,000
Pending
400 W Cameron Street, Hanford, CA 93230
MULTI_FAMILY - Hanford, CA
Property Size1,900 SF
Lot Size0.25 Acres
Days on Market47
Property Features for 400 W Cameron Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
RL5
Parking features
Open
Directions
Grangeville, south on 11th ave, East on Cameron Continue about 4 blocks; 400 W Cameron St is on your left
Subdivision
North East Hanford
Standard status
Pending
APN
010093012000
Size
1,900 SF
Lot size
0.25 Acres
Building Details
Floors in Building
1
Listing Agency:
Keller Williams Realty Antelope Valley
Listed By:
Laura Goldsmith
(559) 589-5730
Added: Jul 14
Changed: Jul 16
Last Checked: Aug 29 at 11:06AM
MLS# 234621
Copyright © 2026 Kings County Board of REALTORS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit apartment building offers a consistent floorplan across all units, with each residence featuring 2 bedrooms and 1 bathroom. The property is positioned as a residential income asset and is well-suited to buyers looking for manageable unit turnover through repeatable unit layouts.
Located at 400 W Cameron Street in Hanford, the property is described as being minutes from Hwy 198, downtown Hanford, local schools, and Adventist Health Hanford. Zoning is listed as RL5.
With four independently rented units under the same bedroom and bathroom configuration, the building provides straightforward operations for an owner managing the property on-site or through a third-party approach.
Located at 400 W Cameron Street in Hanford, the property is described as being minutes from Hwy 198, downtown Hanford, local schools, and Adventist Health Hanford. Zoning is listed as RL5.
With four independently rented units under the same bedroom and bathroom configuration, the building provides straightforward operations for an owner managing the property on-site or through a third-party approach.
Key Highlights
- Four‑unit investment property in downtown Hanford
- All 4 units feature 2 bedrooms and 1 bath layout
- Open parking provided
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
$23,305
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
3.79%
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%
$466,100
$466.1K
Cap Rate 7%
$332,929
$332.9K
Cap Rate 9%
$258,944
$258.9K
Market Conditions
NOI Build-Up for 1,900 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
$34.9K $18.36/SF
− Vacancy
−$1.6K −$0.84/SF
EGI
$33.3K $17.52/SF
− OpEx
−$10.0K −$5.26/SF
NOI
$23.3K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$466,100
Cap Rate 7%
$332,929
Cap Rate 9%
$258,944
Alternative Uses
Best Use
Multifamily LT 5
$332.9K
$291.3K – $388.4K
NOI $23,305 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$296.7K
$259.7K – $346.2K
NOI $20,772 @ 7.0% cap · market cap 3.38%
Theoretical Best
Healthcare Medical
$600.3K
$525.3K – $700.3K
NOI $42,020 @ 7.0% cap · market cap 6.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
928
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
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 - Four units each offer 2 bedrooms and 1 bathroom in a residential income property zoned RL5.
Where is this quadplex located?
The property is located at 400 W Cameron Street Hanford, CA.
What is the asking price?
The asking price for this property is $615,000.
What are key features of this property?
This property features: Four‑unit investment property in downtown Hanford; All 4 units feature 2 bedrooms and 1 bath layout; Open parking provided
