Fresno Multifamily Property For
For Sale
$799,900
446 North Maple Avenue, Fresno, CA 93702
Six-unit multifamily property in Fresno, California, offered completely turnkey.
Property Size4,680 SF
Price / SF$170.92
Days on Market105
Property Features for 446 North Maple Avenue
General Information
Standard status
Active
Size
4,680 SF
Property subtype
Multi Family / 5 to 15 Units
Lease Type
Net
Amenities
Floor or Wall Heat, Window or Wall A/C
Wood, Composition
Stucco
Concrete Perimeter
Building Details
Year Built
1971
Listing Agency:
The JKRE Investment Group
(559) 212-4489
Listed By:
Jeffrey Kim · License #01456017
(559) 212-4489
Source:
Compass
Added: May 19
Changed: Aug 27
Last Checked: Aug 29 at 4:29PM
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 The JKRE Investment Group
Investment Insights
Based on property information with market context.
Located in Fresno, California, 446 N Maple Avenue is a two-story multifamily property featuring six units. Units 101-103 are located on the ground floor, with Units 201-203 situated above. The property is offered completely turnkey and has several years of proven profitability. All units have been updated with modernized interiors. The improvements throughout the building position the property to continue attracting quality tenants and maintaining strong occupancy. The property includes six carport spaces, one assigned to each unit, as well as an on-site laundry room that is currently unused and available for activation as an additional income stream. The property size is 4,680 square feet.
Key Highlights
- Turnkey multifamily property with proven profitability.
- All six units have been updated with modernized interiors.
- Low‑maintenance, stabilized asset with built‑in upside potential.
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
$55,050
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
6.88%
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%
$1,101,000
$1.1M
Cap Rate 7%
$786,429
$786.4K
Cap Rate 9%
$611,667
$611.7K
Market Conditions
NOI Build-Up for 4,680 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
$105.6K $22.56/SF
− Vacancy
−$5.5K −$1.17/SF
EGI
$100.1K $21.39/SF
− OpEx
−$45.0K −$9.62/SF
NOI
$55.0K $11.76/SF
Area
ZIP 93702
Vacancy
5.20%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
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%
$1,101,000
Cap Rate 7%
$786,429
Cap Rate 9%
$611,667
Alternative Uses
Best Use
Apartment 5plus
$786.4K
$688.1K – $917.5K
NOI $55,050 @ 7.0% cap · market cap 6.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.14M
$999.3K – $1.33M
NOI $79,945 @ 7.0% cap · market cap 9.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
629
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
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit multifamily property in Fresno, California, offered completely turnkey.
Where is this apartment building located?
The property is located at 446 North Maple Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Turnkey multifamily property with proven profitability.; All six units have been updated with modernized interiors.; Low‑maintenance, stabilized asset with built‑in upside potential.
