Renovated Student Housing
For Sale
$830,000
4563 E Sierra Madre Ave 4563, Fresno, CA 93726
Renovated duplex with room-by-room student leasing and approved plans for additional bedrooms, bathrooms, and covered parking.
Property Size2,016 SF
Price / SF$411.71
Days on Market101
Property Features for 4563 E Sierra Madre Ave 4563
General Information
Standard status
Active
Size
2,016 SF
Property subtype
Multi-Family
Building Details
Year Built
1956
Listing Agency:
The Mohan Group
Listed By:
Christian Ruiz
(209) 351-2996
Source:
Homesofgreatersacramento
Added: May 28
Changed: Sep 2
Last Checked: Sep 5 at 9:03AM
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 Mohan Group
Investment Insights
Based on property information with market context.
This 1956-built duplex has been renovated and is operated as student housing with individual room leasing. The property includes six existing rooms, with five currently leased, and is secured by a fully enclosed perimeter and automatic entry gate. City-approved plans under Permit B24-13708 provide for four additional bedrooms, two bathrooms, garage conversion and nook improvements, along with a new 540-square-foot carport.
The 15,000-square-foot parcel is located directly across from California State University, Fresno, placing the property within a student-oriented setting. CMX Corridor/Center Mixed-Use zoning supports the existing residential configuration and provides an established framework for evaluating additional multifamily, commercial, or expanded student-housing concepts. Architectural, structural, and energy-compliance documents are included with the approved expansion plans. The property is tenant-occupied, with showings scheduled by appointment and 24-hour notice.
The 15,000-square-foot parcel is located directly across from California State University, Fresno, placing the property within a student-oriented setting. CMX Corridor/Center Mixed-Use zoning supports the existing residential configuration and provides an established framework for evaluating additional multifamily, commercial, or expanded student-housing concepts. Architectural, structural, and energy-compliance documents are included with the approved expansion plans. The property is tenant-occupied, with showings scheduled by appointment and 24-hour notice.
Key Highlights
- Renovated 1956‑built duplex operated as room‑by‑room student housing
- 15,000‑square‑foot parcel directly across from California State University, Fresno
- CMX Corridor/Center Mixed‑Use zoning
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
$23,278
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
2.80%
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%
$465,560
$465.6K
Cap Rate 7%
$332,543
$332.5K
Cap Rate 9%
$258,644
$258.6K
Market Conditions
NOI Build-Up for 2,016 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
$35.1K $17.40/SF
− Vacancy
−$1.8K −$0.90/SF
EGI
$33.3K $16.50/SF
− OpEx
−$10.0K −$4.95/SF
NOI
$23.3K $11.55/SF
Area
ZIP 93726
Vacancy
5.20%
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%
$465,560
Cap Rate 7%
$332,543
Cap Rate 9%
$258,644
Alternative Uses
Best Use
Multifamily LT 5
$332.5K
$291.0K – $388.0K
NOI $23,278 @ 7.0% cap · market cap 2.80%
Second Best
Apartment 5plus
$307.0K
$268.6K – $358.2K
NOI $21,489 @ 7.0% cap · market cap 2.59%
Theoretical Best
Office A
$418.0K
$365.8K – $487.7K
NOI $29,263 @ 7.0% cap · market cap 3.53%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
679
Businesses Nearby
Explore this area
Business Placement
Demographics for 93726, CA
42,366
Population
15,744
Households
2.7
Avg Household Size
31
Median Age
17%
College-Educated
78%
High-School Grad
6.4 sq mi
ZIP Area
6,620
Density / Sq Mi
$51,913
Median Household Income
$31,697
Median Earnings
$1,254
Median Rent
$271,800
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?
Duplex - Renovated duplex with room-by-room student leasing and approved plans for additional bedrooms, bathrooms, and covered parking.
Where is this duplex located?
The property is located at 4563 E Sierra Madre Ave 4563 Fresno, CA.
What is the asking price?
The asking price for this property is $830,000.
What are key features of this property?
This property features: Renovated 1956‑built duplex operated as room‑by‑room student housing; 15,000‑square‑foot parcel directly across from California State University, Fresno; CMX Corridor/Center Mixed‑Use zoning
