Owner-Occupied Triplex with
For Sale
$589,000
4053 N Feland Avenue, Fresno, CA 93722
Triplex with two 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit, each with patios and washer/dryer hookups.
Property Size3,244 SF
Price / SF$181.57
Days on Market80
Property Features for 4053 N Feland Avenue
General Information
Standard status
Active
Size
3,244 SF
Property subtype
Multi Family
Additional Details
Multifamily Units
3
Building Details
Year Built
1980
Listing Agency:
Fresno Income Properties
(559) 438-9410
Listed By:
Paul Gestic · License #DRE #01376488
(559) 903-2255
Source:
Exitrealty
Added: Jun 19
Changed: Aug 8
Last Checked: Jul 31 at 6:52AM
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 pride-of-ownership triplex includes two 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit. The layout is designed to feel like individual homes, with comfortable living spaces for each residence. Residents have access to patios, washer and dryer hookups, and attached garages.
Located at 4053 N Feland Avenue in Fresno, the property is described as being near shopping, dining, parks, and schools, along with everyday amenities.
The unit mix provides a flexible configuration for rental income within a three-unit structure, supported by practical in-unit laundry connections and attached parking.
Located at 4053 N Feland Avenue in Fresno, the property is described as being near shopping, dining, parks, and schools, along with everyday amenities.
The unit mix provides a flexible configuration for rental income within a three-unit structure, supported by practical in-unit laundry connections and attached parking.
Key Highlights
- Triplex built in 1980 featuring 2 two‑bedroom, 2‑bath units and 1 one‑bedroom, 1‑bath unit
- Unit mix includes two 2BR/2BA apartments plus one 1BR/1BA apartment
- Each unit has a patio and washer/dryer hookups
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
$37,734
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
6.41%
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%
$754,680
$754.7K
Cap Rate 7%
$539,057
$539.1K
Cap Rate 9%
$419,267
$419.3K
Market Conditions
NOI Build-Up for 3,244 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
$56.4K $17.40/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$53.9K $16.62/SF
− OpEx
−$16.2K −$4.99/SF
NOI
$37.7K $11.63/SF
Area
ZIP 93722
Vacancy
4.50%
Lease Rate
$17.40 /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%
$754,680
Cap Rate 7%
$539,057
Cap Rate 9%
$419,267
Alternative Uses
Best Use
Multifamily LT 5
$539.1K
$471.7K – $628.9K
NOI $37,734 @ 7.0% cap · market cap 6.41%
Second Best
Apartment 5plus
$483.5K
$423.0K – $564.1K
NOI $33,843 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$691.4K
$604.9K – $806.6K
NOI $48,395 @ 7.0% cap · market cap 8.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
580
Businesses Nearby
Explore this area
Business Placement
Demographics for 93722, CA
87,364
Population
27,615
Households
3.2
Avg Household Size
32
Median Age
23%
College-Educated
83%
High-School Grad
19.3 sq mi
ZIP Area
4,527
Density / Sq Mi
$77,335
Median Household Income
$41,364
Median Earnings
$1,529
Median Rent
$350,700
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?
Triplex - Triplex with two 2-bedroom, 2-bath units and one 1-bedroom, 1-bath unit, each with patios and washer/dryer hookups.
Where is this triplex located?
The property is located at 4053 N Feland Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $589,000.
What are key features of this property?
This property features: Triplex built in 1980 featuring 2 two‑bedroom, 2‑bath units and 1 one‑bedroom, 1‑bath unit; Unit mix includes two 2BR/2BA apartments plus one 1BR/1BA apartment; Each unit has a patio and washer/dryer hookups
