Renovated Fourplex with Townhome-Style
New
For Sale
$724,900
402 N Poplar Avenue, Fresno, CA 93701
Multi Family, Fresno, CA
Property Size3,402 SF
Lot Size0.14 Acres
Price / SF$213.08
Days on Market5
Property Features for 402 N Poplar Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 4, Bedroom 1, Bedroom 5, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 5, Bedroom 8, Bathroom 6, Bathroom 1, Bathroom 2, Bathroom 4, Bedroom 3, Bedroom 7
Parking features
Carport
Exterior features
Wood
High school district
Fresno Unified
Directions
Take McKinley Ave west from Blackstone Ave and turn left on Poplar Ave. Property is down the street on the left.
Subdivision
701
Standard status
Active
APN
45905517
Size
3,402 SF
Lot size
0.14 Acres
Amenities
gated access
on-site laundry
Building Details
Year built
1979
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
ERA Valley Wide Homes
(559) 349-1950
Listed By:
Craig Barton · License #01228460
(559) 272-0724
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 29 at 3:06AM
MLS# 653938
Copyright © 2026 Fresno Association 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 fourplex at 402 N Poplar Avenue contains 3,402 square feet across four townhome-style units. Each residence includes 2 bedrooms and 1.5 bathrooms, creating a consistent configuration throughout the property. The building was renovated in 2016, followed by structural improvements in 2023. Exterior features include wood siding, a composition roof, and carport parking.
All four units are currently leased. Gated access serves Units 102 through 104, while an on-site laundry facility provides an additional property feature. Built in 1979, the asset occupies 0.1435 acres in Fresno, California.
All four units are currently leased. Gated access serves Units 102 through 104, while an on-site laundry facility provides an additional property feature. Built in 1979, the asset occupies 0.1435 acres in Fresno, California.
Key Highlights
- Four townhome‑style units, each with 2 bedrooms and 1.5 bathrooms
- 3,402 square feet on a 0.1435‑acre parcel
- Renovated in 2016 with structural improvements completed in 2023
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
$44,558
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
6.15%
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%
$891,160
$891.2K
Cap Rate 7%
$636,543
$636.5K
Cap Rate 9%
$495,089
$495.1K
Market Conditions
NOI Build-Up for 3,402 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
$67.4K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$63.7K $18.71/SF
− OpEx
−$19.1K −$5.61/SF
NOI
$44.6K $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%
$891,160
Cap Rate 7%
$636,543
Cap Rate 9%
$495,089
Alternative Uses
Best Use
Multifamily LT 5
$636.5K
$557.0K – $742.6K
NOI $44,558 @ 7.0% cap · market cap 6.15%
Second Best
Apartment 5plus
$557.6K
$487.9K – $650.6K
NOI $39,035 @ 7.0% cap · market cap 5.38%
Theoretical Best
Office A
$1.00M
$877.2K – $1.17M
NOI $70,176 @ 7.0% cap · market cap 9.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
2,112
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?
Quadplex - Fully leased multifamily property with updated interiors, gated access, carport parking, and on-site laundry.
Where is this quadplex located?
The property is located at 402 N Poplar Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Four townhome‑style units, each with 2 bedrooms and 1.5 bathrooms; 3,402 square feet on a 0.1435‑acre parcel; Renovated in 2016 with structural improvements completed in 2023
