This 74-unit apartment building in Dinuba, CA presents a compelling investment opportunity. Located on a 0.82-acre lot at 638 W Kern St, 93618, this Class B property boasts 8,000 square feet of rentable space, currently permitted for 74 beds. Previously used for H-2A housing, it's ideally suited for supported housing, offering significant potential for expansion. The property features four single-story buildings constructed in 1966 and renovated in 2000, including a commercial kitchen capable of producing over 1,000 meals daily, complete with walk-in refrigeration and freezer units. Improvements include metal roofs, new flooring, updated light fixtures, rain gutters, and a video security system. Exterior amenities include a 1,000 square foot shaded concrete eating area, two 20-foot sea trains for storage, and a gravel yard for equipment and vehicle staging. The property is fully fenced and gated, providing enhanced security and privacy. City water and sewer services are available. The property's central location offers convenient access to local stores and transportation, with proximity to Kingsburg (10 miles), Fresno (30 miles), Visalia (20 miles), and Bakersfield (80 miles). The asking price is $3,500,000, representing a price per unit of $47,297.30 and a price per square foot of $437.50. The property offers a strong net operating income (NOI) of $360,000, resulting in a 10.29% cap rate. The property is offered as a 1031 exchange opportunity. APN: 017-173-005-000.
Property Features for 638 Kern St
General Information
Property type
Multifamily properties
Square Feet
8,000 SF
Class
B
Lot Size
35,719 SF
Building Details
Year Built/Renovated
1966/2000
Buildings
4
Stories
1
Units
74
HighLights
$3,500,000 asking price for a 74‑unit apartment building in Dinuba, CA.
8,000 square feet, offering $437.50 per square foot.
10.29% cap rate with a $360,000 NOI.
Previously used for H‑2A housing, currently permitted for 74 beds with expansion potential.
Situated on a 0.82‑acre lot with remodeled interiors and exteriors.
Features include a commercial kitchen, fenced grounds, and ample outdoor space.
Multifamily property - 74-Unit Apartment Building, High NOI
Where is this multifamily property located?
The property is located at 638 Kern St Dinuba, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: $3,500,000 asking price for a 74-unit apartment building in Dinuba, CA.; 8,000 square feet, offering $437.50 per square foot.; 10.29% cap rate with a $360,000 NOI.
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638 Kern St Dinuba, CA 93618
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Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.
Cap approach
Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.
Comparable approach
Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.
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Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.
Geo
Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels
across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.
Alternative use
Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.
More about this property
638 Kern St Dinuba, CA 93618
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638 Kern St, Dinuba, CA
Franklin Romine
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638 Kern St, Dinuba, CA
Franklin Romine
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638 Kern St, Dinuba, CA
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638 Kern St, Dinuba, CA
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638 Kern St, Dinuba, CA
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638 Kern St, Dinuba, CA
Franklin Romine
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