Renovated Four-Unit
For Sale
$1,075,000
41930 Buckeye Lane, Shaver Lake, CA 93664
Multi Family, Shaver Lake, CA
Property Size3,980 SF
Lot Size0.21 Acres
Price / SF$270.10
Days on Market254
Property Features for 41930 Buckeye Lane
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
7
Bathrooms
6
Full bathrooms
5
Half bathrooms
1
Rooms
Bathroom 6, Bedroom 5, Bedroom 1, Bathroom 2, Bathroom 1, Bedroom 7, Bathroom 4, Bedroom 3, Bedroom 4, Bedroom 2, Bathroom 5, Bedroom 6, Bathroom 3
Parking features
Covered
Exterior features
Wood
Lot features
Corner
High school district
Sierra Unified
Directions
Head east on 168 into town. Property is on the left right before Hungry Hut. Can turn onto Buckeye and park in back.
Subdivision
664
Standard status
Active
APN
12023406
Size
3,980 SF
Lot size
0.21 Acres
Utilities
Utilities
Propane
Amenities
fenced yard
on-site laundry
Building Details
Year built
1950
Floors in Building
2
Number of units
4
Roof type
Metal
Listing Agency:
Realty Concepts, Ltd. - Fresno
(559) 490-1500
Listed By:
Jennifer Toste · License #02101126
(559) 490-1500
Added: Dec 12, 2025
Changed: Aug 22
Last Checked: Aug 23 at 6:06AM
MLS# 641029
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 four-unit property provides 3,980 square feet on 0.21 acres, with a renovated mix that includes a three-bedroom, 2.5-bath main residence, a two-bedroom unit, a one-bedroom unit, and a studio. Interior features include updated kitchens, open living areas, LVP flooring, stainless steel appliances, pellet-stove heating, and on-site laundry. The property is being sold furnished and includes covered parking, a fenced yard, wood exterior siding, a metal roof, and propane utilities.
Located in Shaver Lake, the property is walkable to shops and restaurants and sits near Highway 168. The lake is approximately 5 minutes away, while China Peak is about 30 minutes away. CM4 zoning provides for potential conversion to commercial use, as described in the property information.
Located in Shaver Lake, the property is walkable to shops and restaurants and sits near Highway 168. The lake is approximately 5 minutes away, while China Peak is about 30 minutes away. CM4 zoning provides for potential conversion to commercial use, as described in the property information.
Key Highlights
- Four units totaling 3,980 square feet on a 0.21‑acre lot
- Unit mix includes a 3‑bedroom main residence, 2BR unit, 1BR unit, and studio
- Renovated interiors with updated kitchens, LVP flooring, and stainless steel appliances
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
$52,683
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
4.90%
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%
$1,053,660
$1.1M
Cap Rate 7%
$752,614
$752.6K
Cap Rate 9%
$585,367
$585.4K
Market Conditions
NOI Build-Up for 3,980 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
$80.2K $20.16/SF
− Vacancy
−$5.0K −$1.25/SF
EGI
$75.3K $18.91/SF
− OpEx
−$22.6K −$5.67/SF
NOI
$52.7K $13.24/SF
Area
Fresno County, CA
Vacancy
6.20%
Lease Rate
$20.16 /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%
$1,053,660
Cap Rate 7%
$752,614
Cap Rate 9%
$585,367
Alternative Uses
Best Use
Multifamily LT 5
$752.6K
$658.5K – $878.1K
NOI $52,683 @ 7.0% cap · market cap 4.90%
Second Best
Apartment 5plus
$719.0K
$629.1K – $838.8K
NOI $50,329 @ 7.0% cap · market cap 4.68%
Theoretical Best
Office A
$1.13M
$987.0K – $1.32M
NOI $78,962 @ 7.0% cap · market cap 7.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
120
Businesses Nearby
Explore this area
Business Placement
Demographics for 93664, CA
614
Population
2,106
Households
0.3
Avg Household Size
59
Median Age
53%
College-Educated
99%
High-School Grad
188.1 sq mi
ZIP Area
3
Density / Sq Mi
$142,292
Median Household Income
$80,625
Median Earnings
$618,200
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 separate accommodations include a three-bedroom main residence and three additional furnished rental units.
Where is this quadplex located?
The property is located at 41930 Buckeye Lane Shaver Lake, CA.
What is the asking price?
The asking price for this property is $1,075,000.
What are key features of this property?
This property features: Four units totaling 3,980 square feet on a 0.21‑acre lot; Unit mix includes a 3‑bedroom main residence, 2BR unit, 1BR unit, and studio; Renovated interiors with updated kitchens, LVP flooring, and stainless steel appliances
