Triplex with Private
For Sale
$799,900
754 East Home Avenue, Fresno, CA 93728
Three-unit property with a vacant two-story residence and two tenant-occupied homes.
Property Size5,631 SF
Price / SF$142.05
Days on Market209
Property Features for 754 East Home Avenue
General Information
Standard status
Active
Size
5,631 SF
Property subtype
Multi Family / Triplex
Lease Type
Net
Amenities
More than One Unit
Central Heat/Cool
Composition
Stucco, Brick
Wood Subfloor
Building Details
Year Built
1948
Listing Agency:
London Properties-Clovis
(559) 212-4489
Listed By:
Jeffrey Kim · License #01456017
(559) 212-4489
Source:
Compass
Added: Feb 3
Changed: Aug 30
Last Checked: Aug 31 at 1:51AM
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 London Properties-Clovis
Investment Insights
Based on property information with market context.
Built in 1948, this triplex includes three separate residences totaling 5,631 square feet. The primary home is a vacant two-story residence with three bedrooms and two-and-a-half bathrooms. Two additional single-story units each offer one bedroom and one bathroom and are occupied by renters.
Each residence has its own private garage. The garages serving the two Home Avenue units extend two cars deep, providing additional parking and storage capacity. Interior features include central heating and cooling, while the exterior incorporates stucco, brick, composition materials, and wood subfloors. The property is located in Fresno-High at 754 East Home Avenue, Fresno, California 93728.
Each residence has its own private garage. The garages serving the two Home Avenue units extend two cars deep, providing additional parking and storage capacity. Interior features include central heating and cooling, while the exterior incorporates stucco, brick, composition materials, and wood subfloors. The property is located in Fresno-High at 754 East Home Avenue, Fresno, California 93728.
Key Highlights
- Three‑unit triplex totaling 5,631 square feet
- Vacant two‑story main residence with 3 bedrooms and 2.5 bathrooms
- Two single‑story 1‑bedroom, 1‑bathroom units are occupied by renters
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
$64,611
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
8.08%
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%
$1,292,220
$1.3M
Cap Rate 7%
$923,014
$923.0K
Cap Rate 9%
$717,900
$717.9K
Market Conditions
NOI Build-Up for 5,631 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
$123.7K $21.96/SF
− Vacancy
−$6.2K −$1.10/SF
EGI
$117.5K $20.86/SF
− OpEx
−$52.9K −$9.39/SF
NOI
$64.6K $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /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%
$1,292,220
Cap Rate 7%
$923,014
Cap Rate 9%
$717,900
Alternative Uses
Best Use
Multifamily LT 5
$1.05M
$921.9K – $1.23M
NOI $73,753 @ 7.0% cap · market cap 9.22%
Second Best
Apartment 5plus
$923.0K
$807.6K – $1.08M
NOI $64,611 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.66M
$1.45M – $1.94M
NOI $116,156 @ 7.0% cap · market cap 14.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,120
Businesses Nearby
Explore this area
Business Placement
Demographics for 93728, CA
16,191
Population
6,878
Households
2.4
Avg Household Size
35
Median Age
18%
College-Educated
77%
High-School Grad
3.0 sq mi
ZIP Area
5,397
Density / Sq Mi
$52,809
Median Household Income
$34,696
Median Earnings
$1,243
Median Rent
$239,700
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?
Triplex - Three-unit property with a vacant two-story residence and two tenant-occupied homes.
Where is this triplex located?
The property is located at 754 East Home Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $799,900.
What are key features of this property?
This property features: Three‑unit triplex totaling 5,631 square feet; Vacant two‑story main residence with 3 bedrooms and 2.5 bathrooms; Two single‑story 1‑bedroom, 1‑bathroom units are occupied by renters
