5-Unit Apartment
For Sale
$850,000
581 W Ashlan Avenue, Clovis, CA 93612
The fully occupied property includes attached parking and a mix of two-bedroom floor plans.
Property Size4,783 SF
Price / SF$177.71
Days on Market75
Property Features for 581 W Ashlan Avenue
General Information
Standard status
Active
Size
4,783 SF
Property subtype
Multi Family
Occupancy
100%
Units
Unit Mix
1 x 2BD/2BA, 4 x 2BD/1BA
Multifamily Units
5
Additional Details
Tenant in Place
Yes
Amenities
attached parking
Building Details
Building Size
4,783 SF
Year Built
1979
Listing Agency:
Iron Key Real Estate
Listed By:
Kevin Evaro · License #02283325
(949) 826-2268
Source:
Pinkkeyrealestate
Added: Aug 24
Changed: Oct 31
Last Checked: Nov 5 at 9:35AM
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 Iron Key Real Estate
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Investment Insights
Based on property information with market context.
Built in 1979, this Clovis apartment property contains five units: one with two bedrooms and two bathrooms, and four with two bedrooms and one bathroom. Each unit has attached parking, and the property is fully occupied.
The property may be acquired on its own or together with the neighboring 591 and 571 Ashlan Avenue properties, for a combined total of 15 units.
The property may be acquired on its own or together with the neighboring 591 and 571 Ashlan Avenue properties, for a combined total of 15 units.
Key Highlights
- Five units: one 2‑bedroom/2‑bathroom apartment and four 2‑bedroom/1‑bathroom apartments
- Attached parking for each unit
- 100% occupancy
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$62,646
Cap Rate
7.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,252,920
$1.3M
Cap Rate 7%
$894,943
$894.9K
Cap Rate 9%
$696,067
$696.1K
Market Conditions
NOI Build-Up for 4,783 SF
Gross rent
$120.5K $25.20/SF
− Vacancy
−$6.6K −$1.39/SF
EGI
$113.9K $23.81/SF
− OpEx
−$51.3K −$10.72/SF
NOI
$62.6K $13.10/SF
Area
Clovis, CA
Vacancy
5.50%
Lease Rate
$25.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,252,920
Cap Rate 7%
$894,943
Cap Rate 9%
$696,067
Alternative Uses
Best Use
Apartment 5plus
$894.9K
$783.1K – $1.04M
NOI $62,646 @ 7.0% cap · market cap 7.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.41M
NOI $84,349 @ 7.0% cap · market cap 9.92%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
5
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
608
Businesses Nearby
Explore this area
Business Placement
Demographics for 93612, CA
37,368
Population
14,362
Households
2.6
Avg Household Size
34
Median Age
21%
College-Educated
88%
High-School Grad
6.7 sq mi
ZIP Area
5,577
Density / Sq Mi
$64,079
Median Household Income
$40,460
Median Earnings
$1,410
Median Rent
$311,700
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The fully occupied property includes attached parking and a mix of two-bedroom floor plans.
Where is this apartment building located?
The property is located at 581 W Ashlan Avenue Clovis, CA.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Five units: one 2‑bedroom/2‑bathroom apartment and four 2‑bedroom/1‑bathroom apartments; Attached parking for each unit; 100% occupancy
