Apartment Building with Swimming
For Sale
$6,290,000
615 S Demaree Street, Visalia, CA 93277
Family-sized layouts, on-site management, and two laundry rooms support a practical multifamily configuration.
Property Size34,038 SF
Lot Size1.41 Acres
Price / SF$184.79
Days on Market100
Property Features for 615 S Demaree Street
General Information
Standard status
Active
Size
34,038 SF
Lot size
1.41 Acres
Property subtype
Multi Family
Units
Unit Mix
33 x 2BR/1BA, 7 x 3BR/1BA
Multifamily Units
40
Additional Details
Cap Rate
6.3%
Amenities
on-site management
two laundry rooms
swimming pool
Building Details
Year Built
1973
Listing Agency:
The JKRE Investment Group
Listed By:
Jin Kim · License #DRE #01456017
(559) 212-4489
Source:
Exitrealty
Added: Jul 8
Changed: Oct 1
Last Checked: Oct 1 at 9:12AM
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 The JKRE Investment Group
Investment Insights
Based on property information with market context.
Giant Sequoia Village is a 40-unit apartment community at 615 S Demaree Street in Visalia, California. The property was built in 1973 and contains 34,038 square feet across a 1.41-acre site. Its unit mix includes 33 two-bedroom, one-bathroom apartments and 7 three-bedroom, one-bathroom apartments, with average floor plans of roughly 850 square feet.
Property operations include on-site management, two laundry rooms leased through WASH, and a swimming pool. The community has no studio or one-bedroom units, providing a resident mix centered on larger apartment layouts. The offering reflects an approximately 6.3 percent day-1 cap rate.
Property operations include on-site management, two laundry rooms leased through WASH, and a swimming pool. The community has no studio or one-bedroom units, providing a resident mix centered on larger apartment layouts. The offering reflects an approximately 6.3 percent day-1 cap rate.
Key Highlights
- 40‑unit apartment community built in 1973
- Unit mix includes 33 two‑bedroom units and 7 three‑bedroom units
- 34,038 square feet on a 1.41‑acre lot
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$282,656
Cap Rate
4.49%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,653,120
$5.7M
Cap Rate 7%
$4,037,943
$4.0M
Cap Rate 9%
$3,140,622
$3.1M
Market Conditions
NOI Build-Up for 34,038 SF
Gross rent
$551.4K $16.20/SF
− Vacancy
−$37.5K −$1.10/SF
EGI
$513.9K $15.10/SF
− OpEx
−$231.3K −$6.79/SF
NOI
$282.7K $8.30/SF
Area
Visalia, CA
Vacancy
6.80%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$5,653,120
Cap Rate 7%
$4,037,943
Cap Rate 9%
$3,140,622
Alternative Uses
Best Use
Apartment 5plus
$4.04M
$3.53M – $4.71M
NOI $282,656 @ 7.0% cap · market cap 4.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.32M
$8.16M – $10.88M
NOI $652,713 @ 7.0% cap · market cap 10.38%
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
40
Residential units
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
Explore this area
Business Placement
Demographics for 93277, CA
53,196
Population
19,434
Households
2.7
Avg Household Size
37
Median Age
23%
College-Educated
90%
High-School Grad
39.4 sq mi
ZIP Area
1,350
Density / Sq Mi
$79,532
Median Household Income
$43,555
Median Earnings
$1,406
Median Rent
$320,500
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
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Frequently Asked Questions
What type of property is this?
Apartment building - Family-sized layouts, on-site management, and two laundry rooms support a practical multifamily configuration.
Where is this apartment building located?
The property is located at 615 S Demaree Street Visalia, CA.
What is the asking price?
The asking price for this property is $6,290,000.
What are key features of this property?
This property features: 40‑unit apartment community built in 1973; Unit mix includes 33 two‑bedroom units and 7 three‑bedroom units; 34,038 square feet on a 1.41‑acre lot
