244-Unit Apartment
For Sale
Contact for pricing
Pending
526 E Barstow Avenue, Fresno, CA 93710
For sale multifamily property featuring 244 units and recent capital improvements largely completed.
Property Size215,245 SF
Days on Market62
Property Features for 526 E Barstow Avenue
General Information
Standard status
Pending
Size
215,245 SF
Class
B
Total Parking Spaces
500
Property subtype
Multifamily
Investment Type
Value Add
Additional Details
Multifamily Units
244
Building Details
Year Built
1972
Buildings
21
Stories
2
Units
244
Tenancy
Multi
Listing Agency:
Visintainer Group
Listed By:
Dustin Ilic · License #01772625
(559) 669-3697
Source:
Crexi
Added: Jul 8
Changed: Aug 28
Last Checked: Aug 26 at 6:18PM
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 Visintainer Group
Investment Insights
Based on property information with market context.
Casa Del Rey Apartments is a 244-unit multifamily acquisition offering residential income property with recent capital improvements largely completed, intended to reduce the need for additional near-term capital.
The property is located at 526 E Barstow Avenue in Fresno, CA 93710.
As presented in the offering remarks, the improvements are positioned to support updating rents toward market with minimal additional capital. For full offering materials, visit www.casadelreyapartmenthomes.com.
The property is located at 526 E Barstow Avenue in Fresno, CA 93710.
As presented in the offering remarks, the improvements are positioned to support updating rents toward market with minimal additional capital. For full offering materials, visit www.casadelreyapartmenthomes.com.
Key Highlights
- 244‑unit multifamily apartment property
- Built in 1972
- Recent capital improvements have been largely completed
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
$2,469,743
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
6.52%
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%
$49,394,860
$49.4M
Cap Rate 7%
$35,282,043
$35.3M
Cap Rate 9%
$27,441,589
$27.4M
Market Conditions
NOI Build-Up for 215,245 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
$4.73M $21.96/SF
− Vacancy
−$236.3K −$1.10/SF
EGI
$4.49M $20.86/SF
− OpEx
−$2.02M −$9.39/SF
NOI
$2.47M $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /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%
$49,394,860
Cap Rate 7%
$35,282,043
Cap Rate 9%
$27,441,589
Alternative Uses
Best Use
Apartment 5plus
$35.28M
$30.87M – $41.16M
NOI $2,469,743 @ 7.0% cap · market cap 6.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$63.43M
$55.50M – $74.00M
NOI $4,440,074 @ 7.0% cap · market cap 11.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
244
Residential units
Location Intelligence
Trade Area within ½ mile
1,889
Businesses Nearby
Explore this area
Business Placement
Demographics for 93710, CA
30,552
Population
12,581
Households
2.4
Avg Household Size
32
Median Age
30%
College-Educated
89%
High-School Grad
6.2 sq mi
ZIP Area
4,928
Density / Sq Mi
$62,294
Median Household Income
$32,232
Median Earnings
$1,337
Median Rent
$348,600
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 - For sale multifamily property featuring 244 units and recent capital improvements largely completed.
Where is this apartment building located?
The property is located at 526 E Barstow Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $37,900,000.
What are key features of this property?
This property features: 244‑unit multifamily apartment property; Built in 1972; Recent capital improvements have been largely completed
