Building Details

Year Built 1965

Listing Agency: HomeSmart PV and Associates Show Phone

Listed By: Puneet Bhargava · License #01859500 Show Phone

Source: Exitrealty

Added: Mar 22 Changed: Oct 4 Last Checked: Oct 4 at 7:48AM

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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 HomeSmart PV and Associates

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Investment Insights

Based on property information with market context.

This quadplex contains four units within a 2,408-square-foot property built in 1965. Three units received remodeling work within the past year, and the building includes spacious layouts along with a four-car carport for off-street tenant parking. Interior conditions may vary, as current interior photography is not available while the property is occupied.

Three tenants participate in the Section 8 program, and some leases are month-to-month. The property is located at 408 S Woodrow Avenue in Fresno, California, within walking distance of grocery stores, shopping centers, and other essential amenities.

Key Highlights

• Four‑unit property totaling 2,408 SF
• 3 of 4 units remodeled within the past year
• 3 Section 8 tenants

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$31,539

Cap Rate

5.79%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$630,780 $630.8K

Cap Rate 7%

$450,557 $450.6K

Cap Rate 9%

$350,433 $350.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,408 SF

Gross rent

$47.7K $19.80/SF

− Vacancy

−$2.6K −$1.09/SF

EGI

$45.1K $18.71/SF

− OpEx

−$13.5K −$5.61/SF

NOI

$31.5K $13.10/SF

Area

ZIP 93702

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 Rate 5%

$630,780

Cap Rate 7%

$450,557

Cap Rate 9%

$350,433

Alternative Uses

Best Use

Multifamily LT 5

$450.6K

$394.2K – $525.7K (±1% cap)

NOI $31,539 @ 7.0% cap · market cap 5.79%

Second Best

Apartment 5plus

$404.6K

$354.1K – $472.1K (±1% cap)

NOI $28,325 @ 7.0% cap · market cap 5.20%

Theoretical Best

Office A

$587.6K

$514.2K – $685.6K (±1% cap)

NOI $41,134 @ 7.0% cap · market cap 7.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm HVAC Service Skin Care Clinic (Bike/Boat/Book/etc) Store Computer & Electronic Repair

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

Location Intelligence

Trade Area within ½ mile

821

Businesses Nearby

Explore this area Business Placement

Demographics for 93702, CA

45,741

Population

13,386

Households

3.4

Avg Household Size

29

Median Age

9%

College-Educated

57%

High-School Grad

5.2 sq mi

ZIP Area

8,796

Density / Sq Mi

$44,849

Median Household Income

$27,486

Median Earnings

$1,110

Median Rent

$211,900

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Quadplex - Three residences were updated within the past year, with tenant parking provided by a covered carport.

Where is this quadplex located?

The property is located at 408 S Woodrow Avenue Fresno, CA.

What is the asking price?

The asking price for this property is $545,000.

What are key features of this property?

This property features: Four‑unit property totaling 2,408 SF; 3 of 4 units remodeled within the past year; 3 Section 8 tenants