5-Unit Apartment
For Sale
$849,999
Pending
591 W Ashlan Ave, Clovis, CA 93612
Well-maintained multifamily property with upgraded interiors, attached parking, and a fully occupied unit mix.
Property Size4,783 SF
Days on Market54
Property Features for 591 W Ashlan Ave
General Information
Standard status
Pending
Size
4,783 SF
Property subtype
Residential Income
Occupancy
100%
Units
Unit Mix
1 x 2BD/2BA, 4 x 2BD/1BA
Multifamily Units
5
Listing Agency:
Iron Key Real Estate
(559) 296-8044
Listed By:
Kevin M. Evaro · License #02283325
(949) 826-2268
Source:
Exprealty
Added: Aug 24
Changed: Oct 10
Last Checked: Oct 15 at 2:56AM
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.
This 5-unit apartment property in Clovis, California, contains 4,783 square feet and offers a mix of one 2BD/2BA residence and four 2BD/1BA residences. Each unit includes attached parking, and interior updates have been completed throughout the property. Maintenance and capital improvements were completed in 2025, supporting the building’s well-maintained condition.
The property is currently 100% occupied. Existing rents are approximately 21% below market, providing a clearly defined rent-positioning consideration for a prospective owner. Located at 591 W Ashlan Ave, the asset combines a five-unit configuration, recent improvements, and established occupancy in a single multifamily property.
The property is currently 100% occupied. Existing rents are approximately 21% below market, providing a clearly defined rent-positioning consideration for a prospective owner. Located at 591 W Ashlan Ave, the asset combines a five-unit configuration, recent improvements, and established occupancy in a single multifamily property.
Key Highlights
- 5‑unit apartment property totaling 4,783 square feet
- Unit mix includes one 2BD/2BA and four 2BD/1BA units
- Attached parking provided for each unit
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.
How Realmo checks its estimates
Property Analytics
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Current Use
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 - Well-maintained multifamily property with upgraded interiors, attached parking, and a fully occupied unit mix.
Where is this apartment building located?
The property is located at 591 W Ashlan Ave Clovis, CA.
What is the asking price?
The asking price for this property is $849,999.
What are key features of this property?
This property features: 5‑unit apartment property totaling 4,783 square feet; Unit mix includes one 2BD/2BA and four 2BD/1BA units; Attached parking provided for each unit
