Turnkey Five-Unit Apartment
551 E 11th Street Hanford, CA 93230
For Sale
Contact for pricing
Five 2-bedroom, 1-bath units with turnkey condition, roof replaced 2017, and on-site laundry.
Property Size4,320 SF
Price / SF$156.25
Days on Market82
Property Features for 551 E 11th Street
General Information
- Standard status
- Active
- Size
- 4,320 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1977
Listing Agency:
Colliers - Fresno, California
Listed By:
Jeff Kim · License #CA 01456017
Source:
Crexi
Added: May 4
Changed: Jul 22
Last Checked: Jul 23 at 12:07PM
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 Colliers - Fresno, California
Investment Insights
Based on property information with market context.
551 E. 11th Street presents a five-unit multifamily property operating as East Wind Apartments. The building consists of a consistent unit mix of five 2-bedroom, 1-bathroom units, supporting straightforward management and broad tenant appeal. Built in 1977 and delivered in turnkey condition, the property has had recent compliance and capital items addressed, including completed mandatory SB 721 balcony and exterior elevated element inspections with all identified repairs permitted and finished. The roof was replaced in 2017.
The community includes an on-site laundry facility leased through WASH, generating supplemental income. Units are individually metered for Southern California Edison and paid by the tenant, while the landlord pays water, sewer, and trash. The property is located in the heart of Hanford, near Adventist Health Hanford and the downtown core.
The community includes an on-site laundry facility leased through WASH, generating supplemental income. Units are individually metered for Southern California Edison and paid by the tenant, while the landlord pays water, sewer, and trash. The property is located in the heart of Hanford, near Adventist Health Hanford and the downtown core.
Key Highlights
- Five‑unit multifamily asset totaling approx. 4,320 SF in Hanford, CA
- Consistent unit mix: five 2‑bedroom, 1‑bath units (East Wind Apartments)
- Built in 1977; roof replaced in 2017
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.2k | $20.88 |
| − Vacancy | −$4.3k | −$1.00 |
| EGI | $85.9k | $19.88 |
| − OpEx | −$38.6k | −$8.94 |
| NOI | $47.2k | $10.93 |
4,320 SF · lease $20.88/SF/yr · vacancy 4.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$674.7K
$590.4K – $787.2K
NOI $47,230 @ 7.0% cap · market cap 7.00%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.36M
$1.19M – $1.59M
NOI $95,540 @ 7.0% cap · market cap 14.15%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Five 2-bedroom, 1-bath units with turnkey condition, roof replaced 2017, and on-site laundry.
Where is this apartment building located?
The property is located at 551 E 11th Street Hanford, CA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Five‑unit multifamily asset totaling approx. 4,320 SF in Hanford, CA; Consistent unit mix: five 2‑bedroom, 1‑bath units (East Wind Apartments); Built in 1977; roof replaced in 2017
