15-Unit Apartment
For Sale
$2,170,000
915-943 N Rinaldi Street, Visalia, CA 93291
Recently renovated multifamily property with central air and connected utility services.
Property Size12,135 SF
Days on Market60
Property Features for 915-943 N Rinaldi Street
General Information
Standard status
Active
Size
12,135 SF
Property subtype
Multi Family Home
Units
Unit Mix
15 x 2BR/1BA
Multifamily Units
15
Building Details
Building Size
12,135 SF
Year Built
1978
Buildings
6
Units
15
Listing Agency:
Pimentel Realty Group
(559) 679-6013
Listed By:
Ted Jeske · License #00900569
(559) 679-6013
Source:
Home-realty
Added: Jul 2
Changed: Aug 29
Last Checked: Aug 25 at 9:18AM
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 Pimentel Realty Group
Investment Insights
Based on property information with market context.
This 15-unit apartment property includes a consistent unit configuration, with 2 bedrooms and 1 bathroom in each residence. The building was constructed in 1978 and received a major renovation in the last year, while additional work remains to be completed. Interior features include central heating and air conditioning, electric ranges, and gas water heaters.
Located at 915-943 N Rinaldi Street in Visalia, the property has connected electricity, natural gas, and sewer service. The apartments remain rented, providing an operating income component for an owner evaluating the asset.
The property offers a single multifamily asset with uniform layouts and established occupancy. Its recent renovation work, existing mechanical features, and utility connections provide a clear basis for reviewing the remaining improvements and ongoing operation.
Located at 915-943 N Rinaldi Street in Visalia, the property has connected electricity, natural gas, and sewer service. The apartments remain rented, providing an operating income component for an owner evaluating the asset.
The property offers a single multifamily asset with uniform layouts and established occupancy. Its recent renovation work, existing mechanical features, and utility connections provide a clear basis for reviewing the remaining improvements and ongoing operation.
Key Highlights
- 15 units, with 2 beds and 1 bath per unit
- Major renovation conducted in the last year; additional work remains
- Apartments stay rented
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
$100,770
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
4.64%
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%
$2,015,400
$2.0M
Cap Rate 7%
$1,439,571
$1.4M
Cap Rate 9%
$1,119,667
$1.1M
Market Conditions
NOI Build-Up for 12,135 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
$196.6K $16.20/SF
− Vacancy
−$13.4K −$1.10/SF
EGI
$183.2K $15.10/SF
− OpEx
−$82.4K −$6.79/SF
NOI
$100.8K $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%
$2,015,400
Cap Rate 7%
$1,439,571
Cap Rate 9%
$1,119,667
Alternative Uses
Best Use
Apartment 5plus
$1.44M
$1.26M – $1.68M
NOI $100,770 @ 7.0% cap · market cap 4.64%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.32M
$2.91M – $3.88M
NOI $232,701 @ 7.0% cap · market cap 10.72%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
15
Residential units
Location Intelligence
Trade Area within ½ mile
430
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 - Recently renovated multifamily property with central air and connected utility services.
Where is this apartment building located?
The property is located at 915-943 N Rinaldi Street Visalia, CA.
What is the asking price?
The asking price for this property is $2,170,000.
What are key features of this property?
This property features: 15 units, with 2 beds and 1 bath per unit; Major renovation conducted in the last year; additional work remains; Apartments stay rented
