Four-Unit Apartment
For Sale
$725,000
820 Sherwood Way, Madera, CA 93638
Four residential units offer varied layouts, dedicated garages, and on-site laundry facilities.
Property Size4,204 SF
Price / SF$172.45
Days on Market135
Property Features for 820 Sherwood Way
General Information
Standard status
Active
Size
4,204 SF
Class
Class B
Total Parking Spaces
4
Property subtype
Multi Family
Units
Unit Mix
2 x 3BR/2BA, 2 x 2BR/1.5BA
Multifamily Units
4
Amenities
on-site laundry room
Building Details
Year Built
1992
Listing Agency:
The JKRE Investment Group
(760) 987-5332
Listed By:
Jin Kim · License #01456017
(760) 987-5332
Source:
Exitrealty
Added: Apr 18
Changed: Aug 29
Last Checked: Aug 29 at 2:14PM
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 The JKRE Investment Group
Investment Insights
Based on property information with market context.
This 4,204-square-foot quadplex, built in 1992, contains four residential units arranged as two 3-bedroom/2-bathroom flats and two 2-bedroom/1.5-bathroom townhome-style residences. Every unit has its own single-car garage, while a shared laundry room provides an additional on-site amenity. The property uses a RUBS structure to bill tenants for water, sewer, and disposal services.
Located in Madera, the property also has a completed SB 721 elevated elements inspection dated 5/13/2025. The inspection identified no immediate repairs as necessary, and the report is available in the due diligence materials.
Located in Madera, the property also has a completed SB 721 elevated elements inspection dated 5/13/2025. The inspection identified no immediate repairs as necessary, and the report is available in the due diligence materials.
Key Highlights
- 4,204‑square‑foot quadplex built in 1992
- Unit mix includes two 3‑bedroom/2‑bathroom flats and two 2‑bedroom/1.5‑bathroom townhome‑style units
- Each unit includes a dedicated single‑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
$46,334
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
6.39%
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%
$926,680
$926.7K
Cap Rate 7%
$661,914
$661.9K
Cap Rate 9%
$514,822
$514.8K
Market Conditions
NOI Build-Up for 4,204 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
$71.6K $17.04/SF
− Vacancy
−$5.4K −$1.30/SF
EGI
$66.2K $15.74/SF
− OpEx
−$19.9K −$4.72/SF
NOI
$46.3K $11.02/SF
Area
Madera County, CA
Vacancy
7.60%
Lease Rate
$17.04 /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%
$926,680
Cap Rate 7%
$661,914
Cap Rate 9%
$514,822
Alternative Uses
Best Use
Multifamily LT 5
$661.9K
$579.2K – $772.2K
NOI $46,334 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$612.6K
$536.1K – $714.8K
NOI $42,885 @ 7.0% cap · market cap 5.92%
Theoretical Best
Office A
$1.63M
$1.42M – $1.90M
NOI $113,885 @ 7.0% cap · market cap 15.71%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
208
Businesses Nearby
Explore this area
Business Placement
Demographics for 93638, CA
51,106
Population
12,821
Households
4
Avg Household Size
29
Median Age
8%
College-Educated
56%
High-School Grad
90.3 sq mi
ZIP Area
566
Density / Sq Mi
$60,031
Median Household Income
$28,544
Median Earnings
$1,218
Median Rent
$291,500
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 - Four residential units offer varied layouts, dedicated garages, and on-site laundry facilities.
Where is this quadplex located?
The property is located at 820 Sherwood Way Madera, CA.
What is the asking price?
The asking price for this property is $725,000.
What are key features of this property?
This property features: 4,204‑square‑foot quadplex built in 1992; Unit mix includes two 3‑bedroom/2‑bathroom flats and two 2‑bedroom/1.5‑bathroom townhome‑style units; Each unit includes a dedicated single‑car garage
