Renovated 5-Unit Apartment
For Sale
Contact for pricing
Pending
69 W Beverly Ave, Clovis, CA 93612
Turnkey 5-unit complex with one 3-bedroom/2-bath and four 2-bedroom/1-bath residences, recently renovated throughout.
Property Size4,160 SF
Days on Market164
Property Features for 69 W Beverly Ave
General Information
Standard status
Pending
Size
4,160 SF
Class
B
Property subtype
Multifamily
Zoning
R2
Occupancy
60%
Investment Type
Stabilized
Additional Details
Highway Access
Yes
Multifamily Units
5
Building Details
Year Built
1980
Buildings
2
Stories
2
Units
5
Tenancy
Multi
Listing Agency:
Central California Real Estate Pros
Listed By:
Jared Martin · License #01319553
(559) 320-0611
Source:
Crexi
Added: Mar 27
Changed: Aug 8
Last Checked: Jul 25 at 3:06PM
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 Central California Real Estate Pros
Investment Insights
Based on property information with market context.
This turnkey 5-unit apartment building offers a mix of unit configurations, including one 3-bedroom, 2-bath unit and four 2-bedroom, 1-bath units. Recent renovations include new cabinets, resilient countertops, contemporary flooring, updated doors, refreshed bath and shower enclosures, and energy-efficient windows, designed to reduce ongoing maintenance and improve the overall living experience.
The property is located at 69 W Beverly Ave in Clovis, California, and falls within the Clovis High School attendance area. The surrounding area includes convenient access to the Walmart Supercenter, Freeway 168, Rotary Park, Old Town Clovis, the Farmers Market, and Sierra Vista Elementary School.
The property is located at 69 W Beverly Ave in Clovis, California, and falls within the Clovis High School attendance area. The surrounding area includes convenient access to the Walmart Supercenter, Freeway 168, Rotary Park, Old Town Clovis, the Farmers Market, and Sierra Vista Elementary School.
Key Highlights
- 5‑unit multi‑family property built in 1980
- Unit mix: 1x 3‑bedroom/2‑bath plus 4x 2‑bedroom/1‑bath residences
- Recently renovated with new cabinets, resilient countertops, contemporary flooring, and updated doors
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
$54,486
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
4.45%
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%
$1,089,720
$1.1M
Cap Rate 7%
$778,371
$778.4K
Cap Rate 9%
$605,400
$605.4K
Market Conditions
NOI Build-Up for 4,160 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
$104.8K $25.20/SF
− Vacancy
−$5.8K −$1.39/SF
EGI
$99.1K $23.81/SF
− OpEx
−$44.6K −$10.72/SF
NOI
$54.5K $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 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%
$1,089,720
Cap Rate 7%
$778,371
Cap Rate 9%
$605,400
Alternative Uses
Best Use
Apartment 5plus
$778.4K
$681.1K – $908.1K
NOI $54,486 @ 7.0% cap · market cap 4.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.05M
$917.0K – $1.22M
NOI $73,362 @ 7.0% cap · market cap 5.99%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
799
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?
Apartment building - Turnkey 5-unit complex with one 3-bedroom/2-bath and four 2-bedroom/1-bath residences, recently renovated throughout.
Where is this apartment building located?
The property is located at 69 W Beverly Ave Clovis, CA.
What is the asking price?
The asking price for this property is $1,225,000.
What are key features of this property?
This property features: 5‑unit multi‑family property built in 1980; Unit mix: 1x 3‑bedroom/2‑bath plus 4x 2‑bedroom/1‑bath residences; Recently renovated with new cabinets, resilient countertops, contemporary flooring, and updated doors
