Remodeled Triplex with Two
For Sale
$445,900
523 E 11th Street, Hanford, CA 93230
Multi-Family, Hanford, CA
Property Size2,710 SF
Lot Size0.17 Acres
Price / SF$164.54
Days on Market48
Property Features for 523 E 11th Street
General Information
Property type
Residential Multi Family
Property subtype
Other
Parking features
Open
Directions
Head north on 10th ave, make a left on 11th street, property will be on the left.
Subdivision
North East Hanford
Standard status
Active
APN
010214021000
Size
2,710 SF
Lot size
0.17 Acres
Building Details
Floors in Building
1
Listing Agency:
Legacy Real Estate, Inc
Listed By:
John R Murray Jr
(559) 572-9610
Added: Jul 27
Changed: Aug 30
Last Checked: Sep 12 at 10:06AM
MLS# 234691
Copyright © 2026 Kings County Board 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 triplex combines three residential units across two separate APNs. The front parcel contains a 3-bedroom, 1.5-bath home, while the rear parcel includes two 1-bedroom, 1-bath units. The improvements total 2,710 square feet on 0.1722 acres and include open parking.
All three residences were remodeled approximately six years ago, providing a refreshed configuration with a larger front home and two compact rear units. The property is located at 523 E 11th Street in Hanford, California, within Kings County.
All three residences were remodeled approximately six years ago, providing a refreshed configuration with a larger front home and two compact rear units. The property is located at 523 E 11th Street in Hanford, California, within Kings County.
Key Highlights
- Three‑unit layout with one 3‑bedroom, 1.5‑bath home and two 1‑bedroom, 1‑bath units
- Two separate APNs
- 2,710 square feet of improvements
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
$33,241
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
7.45%
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%
$664,820
$664.8K
Cap Rate 7%
$474,871
$474.9K
Cap Rate 9%
$369,344
$369.3K
Market Conditions
NOI Build-Up for 2,710 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
$49.8K $18.36/SF
− Vacancy
−$2.3K −$0.84/SF
EGI
$47.5K $17.52/SF
− OpEx
−$14.2K −$5.26/SF
NOI
$33.2K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$664,820
Cap Rate 7%
$474,871
Cap Rate 9%
$369,344
Alternative Uses
Best Use
Multifamily LT 5
$474.9K
$415.5K – $554.0K
NOI $33,241 @ 7.0% cap · market cap 7.45%
Second Best
Apartment 5plus
$423.3K
$370.4K – $493.8K
NOI $29,628 @ 7.0% cap · market cap 6.64%
Theoretical Best
Healthcare Medical
$856.2K
$749.2K – $998.9K
NOI $59,934 @ 7.0% cap · market cap 13.44%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,601
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units include a larger home and two one-bedroom apartments.
Where is this triplex located?
The property is located at 523 E 11th Street Hanford, CA.
What is the asking price?
The asking price for this property is $445,900.
What are key features of this property?
This property features: Three‑unit layout with one 3‑bedroom, 1.5‑bath home and two 1‑bedroom, 1‑bath units; Two separate APNs; 2,710 square feet of improvements
