Three-Unit Multifamily
New
For Sale
$649,000
815 E 5Th Street, Hanford, CA 93230
Multi Family, Hanford, CA
Property Size4,100 SF
Lot Size0.38 Acres
Price / SF$158.29
Days on Market2
Property Features for 815 E 5Th Street
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
7
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 1, Bathroom 3, Bedroom 5, Bedroom 6, Bedroom 7, Bedroom 2, Bedroom 1, Bedroom 4, Bedroom 3
Parking features
Covered, Carport
Exterior features
Stucco
High school district
Hanford Schools
Directions
From Hwy 198, exit 10th Ave. Head north on 10th Ave, turn right on E 5th St. Property is on the right.
Subdivision
230
Standard status
Active
APN
016021008000
Size
4,100 SF
Lot size
0.38 Acres
Building Details
Year built
1950
Floors in Building
1
Number of units
3
Roof type
Composition
Listing Agency:
All State Homes
(559) 475-0583
Listed By:
Rudy Alderette · License #01517470
(559) 916-8617
Added: Sep 16
Last Checked: Sep 17 at 9:06AM
MLS# 655345
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 three-unit property spans two separate parcels totaling approximately 16,681 square feet. The main parcel contains a 2,450-square-foot duplex with one three-bedroom, two-bath unit and a second three-bedroom, one-bath unit. The adjoining parcel adds a commercial shop, office area, and a one-bedroom apartment, creating a mix of residential and commercial improvements within the offering.
The property is located at 815 E 5th Street in Hanford, California. Constructed in 1950, the improvements feature stucco exteriors, composition roofing, and covered carport parking. The combined layout includes seven bedrooms and three bathrooms across the residential units, along with separate shop and office components.
The property is located at 815 E 5th Street in Hanford, California. Constructed in 1950, the improvements feature stucco exteriors, composition roofing, and covered carport parking. The combined layout includes seven bedrooms and three bathrooms across the residential units, along with separate shop and office components.
Key Highlights
- Two separate parcels totaling approximately 16,681 sq. ft.
- 2,450 sq. ft. duplex with two three‑bedroom units
- Front unit includes 3 bedrooms and 2 bathrooms
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
$50,290
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
7.75%
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%
$1,005,800
$1.0M
Cap Rate 7%
$718,429
$718.4K
Cap Rate 9%
$558,778
$558.8K
Market Conditions
NOI Build-Up for 4,100 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
$75.3K $18.36/SF
− Vacancy
−$3.4K −$0.84/SF
EGI
$71.8K $17.52/SF
− OpEx
−$21.6K −$5.26/SF
NOI
$50.3K $12.27/SF
Area
Kings County, CA
Vacancy
4.56%
Lease Rate
$18.36 /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%
$1,005,800
Cap Rate 7%
$718,429
Cap Rate 9%
$558,778
Alternative Uses
Best Use
Multifamily LT 5
$718.4K
$628.6K – $838.2K
NOI $50,290 @ 7.0% cap · market cap 7.75%
Second Best
Apartment 5plus
$640.3K
$560.3K – $747.1K
NOI $44,824 @ 7.0% cap · market cap 6.91%
Theoretical Best
Healthcare Medical
$1.30M
$1.13M – $1.51M
NOI $90,675 @ 7.0% cap · market cap 13.97%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
927
Businesses Nearby
Explore this area
Business Placement
Demographics for 93230, CA
68,412
Population
23,149
Households
3
Avg Household Size
34
Median Age
17%
College-Educated
81%
High-School Grad
258.1 sq mi
ZIP Area
265
Density / Sq Mi
$73,558
Median Household Income
$44,074
Median Earnings
$1,208
Median Rent
$321,900
Median Home Value
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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?
Triplex - Two parcels combine residential units with a commercial shop and office space.
Where is this triplex located?
The property is located at 815 E 5Th Street Hanford, CA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Two separate parcels totaling approximately 16,681 sq. ft.; 2,450 sq. ft. duplex with two three‑bedroom units; Front unit includes 3 bedrooms and 2 bathrooms
