Four-Unit Quadplex with
For Sale
$799,950
637 W Ashlan Avenue, Clovis, CA 93612
MULTI_FAMILY - Clovis, CA
Property Size4,144 SF
Lot Size0.18 Acres
Price / SF$193.04
Days on Market62
Property Features for 637 W Ashlan Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Bedrooms
9
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 9, Bedroom 6, Bedroom 8, Bedroom 5, Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 1, Bedroom 4, Bathroom 6, Bathroom 5, Bathroom 4, Bedroom 2, Bedroom 7, Bedroom 3
Parking features
Covered, Garage
Exterior features
Stucco
High school district
Fresno Unified
Directions
on Ashaln pass Willow before Peach
Subdivision
612
Standard status
Active
APN
43061207
Size
4,144 SF
Lot size
0.18 Acres
Amenities
on-site laundry room
Building Details
Year built
1976
Floors in Building
2
Number of units
4
Roof type
Composition
Listing Agency:
Fresno Income Properties
(559) 438-9410
Listed By:
Paul Gestic · License #01376488
(559) 438-9410
Added: Jun 12
Changed: Aug 11
Last Checked: Aug 12 at 11:06AM
MLS# 650384
Copyright © 2026 Fresno Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 4,144-square-foot quadplex at 637 W Ashlan Avenue contains four residential units with varied floor plans. The front residence is a single-level three-bedroom, two-bath layout. Two townhouse-style units each offer two bedrooms and one-and-a-half bathrooms, while the remaining two-bedroom, one-bath unit is positioned above the garages. The property was built in 1976 and features stucco exteriors with a composition roof.
Each residence has an enclosed one-car garage, and one townhouse provides direct interior access from the garage. Residents also share access to an on-site laundry room. The property is in Clovis, near schools, shopping, dining, and freeway access.
Each residence has an enclosed one-car garage, and one townhouse provides direct interior access from the garage. Residents also share access to an on-site laundry room. The property is in Clovis, near schools, shopping, dining, and freeway access.
Key Highlights
- Four‑unit quadplex totaling 4144 square feet on 0.1818 acres
- Unit mix includes one 3‑bedroom, 2‑bath unit; two 2‑bedroom, 1.5‑bath units; and one 2‑bedroom, 1‑bath unit
- Each unit includes an enclosed one‑car garage
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
$61,036
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
7.63%
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%
$1,220,720
$1.2M
Cap Rate 7%
$871,943
$871.9K
Cap Rate 9%
$678,178
$678.2K
Market Conditions
NOI Build-Up for 4,144 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
$92.0K $22.20/SF
− Vacancy
−$4.8K −$1.16/SF
EGI
$87.2K $21.04/SF
− OpEx
−$26.2K −$6.31/SF
NOI
$61.0K $14.73/SF
Area
Clovis, CA
Vacancy
5.22%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
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%
$1,220,720
Cap Rate 7%
$871,943
Cap Rate 9%
$678,178
Alternative Uses
Best Use
Multifamily LT 5
$871.9K
$763.0K – $1.02M
NOI $61,036 @ 7.0% cap · market cap 7.63%
Second Best
Apartment 5plus
$775.4K
$678.5K – $904.6K
NOI $54,277 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$1.04M
$913.5K – $1.22M
NOI $73,080 @ 7.0% cap · market cap 9.14%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
427
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Unit mix includes single-level and townhouse-style layouts with on-site laundry.
Where is this quadplex located?
The property is located at 637 W Ashlan Avenue Clovis, CA.
What is the asking price?
The asking price for this property is $799,950.
What are key features of this property?
This property features: Four‑unit quadplex totaling 4144 square feet on 0.1818 acres; Unit mix includes one 3‑bedroom, 2‑bath unit; two 2‑bedroom, 1.5‑bath units; and one 2‑bedroom, 1‑bath unit; Each unit includes an enclosed one‑car garage
