8-Unit Apartment
For Sale
$1,300,000
800 W Murray Avenue, Visalia, CA 93291
Corner-lot apartment property with a balanced mix of one- and two-bedroom units.
Property Size5,032 SF
Price / SF$258.35
Days on Market9
Property Features for 800 W Murray Avenue
General Information
Standard status
Active
Size
5,032 SF
Property subtype
Multi Family
Units
Unit Mix
4 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
8
Building Details
Year Built
1978
Listing Agency:
Fresno Income Properties
(559) 319-0591
Listed By:
Roy C. Cordova · License #DRE #01944933
(559) 319-0591
Source:
Exitrealty
Added: Aug 4
Changed: Aug 11
Last Checked: Aug 12 at 4:19AM
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 Fresno Income Properties
Investment Insights
Based on property information with market context.
Built in 1978, this 5,032-square-foot apartment property includes eight units on a corner lot in Visalia, California. The configuration provides four one-bedroom, one-bath residences and four two-bedroom, one-bath residences, creating a balanced unit mix within the building.
Several residences feature improvements to flooring, kitchens, and bathrooms. Kitchen updates include countertops, appliances, and fixtures, while bathroom work includes tub and shower updates, vanities, countertops, and fixtures. Vacant units may be delivered leased or unoccupied, providing flexibility for the next owner’s leasing approach. The property is located at 800 W Murray Avenue.
Several residences feature improvements to flooring, kitchens, and bathrooms. Kitchen updates include countertops, appliances, and fixtures, while bathroom work includes tub and shower updates, vanities, countertops, and fixtures. Vacant units may be delivered leased or unoccupied, providing flexibility for the next owner’s leasing approach. The property is located at 800 W Murray Avenue.
Key Highlights
- Eight‑unit apartment property built in 1978
- Balanced mix of four 1‑bedroom/1‑bath and four 2‑bedroom/1‑bath units
- 5,032 SF building on a corner lot
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
$41,786
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
3.21%
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%
$835,720
$835.7K
Cap Rate 7%
$596,943
$596.9K
Cap Rate 9%
$464,289
$464.3K
Market Conditions
NOI Build-Up for 5,032 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
$81.5K $16.20/SF
− Vacancy
−$5.5K −$1.10/SF
EGI
$76.0K $15.10/SF
− OpEx
−$34.2K −$6.79/SF
NOI
$41.8K $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 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%
$835,720
Cap Rate 7%
$596,943
Cap Rate 9%
$464,289
Alternative Uses
Best Use
Apartment 5plus
$596.9K
$522.3K – $696.4K
NOI $41,786 @ 7.0% cap · market cap 3.21%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.38M
$1.21M – $1.61M
NOI $96,494 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
2,879
Businesses Nearby
Explore this area
Business Placement
Demographics for 93291, CA
63,366
Population
19,866
Households
3.2
Avg Household Size
32
Median Age
24%
College-Educated
81%
High-School Grad
84.2 sq mi
ZIP Area
753
Density / Sq Mi
$81,502
Median Household Income
$41,778
Median Earnings
$1,331
Median Rent
$381,600
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 - Corner-lot apartment property with a balanced mix of one- and two-bedroom units.
Where is this apartment building located?
The property is located at 800 W Murray Avenue Visalia, CA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Eight‑unit apartment property built in 1978; Balanced mix of four 1‑bedroom/1‑bath and four 2‑bedroom/1‑bath units; 5,032 SF building on a corner lot
