Individually Owned 
For Sale
1 / 26
$850,000
284 W Lexington Ave, Fresno, CA 93711
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Property summary
AI-generated overview
A luxury triplex containing three separate residences situated on a northwest corner lot, featuring a classic tile roof, mature landscaping, and on-site parking with garages configured for everyday use. Two of the units include attached two-car garages, while the third provides a one-car garage plus a covered carport. Each residence has a living and dining area anchored by a fireplace, walk-in closets, and a kitchen with an electric stove/oven, disposal, and a microwave hood, along with pantry storage and ample cabinetry; dedicated laundry space is provided for each unit with hookups for full-size washer and dryer either within a laundry room or a closet. Two of the units also include vaulted ceilings. Outdoor living is incorporated across the three residences: the front unit has two private patios, the middle unit opens to a shared common green space, and the rear unit includes a full-size private backyard. The unit mix consists of two 2-bedroom/2-bath residences and one 3-bedroom/2-bath residence, providing multiple household layout options.
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1981
Construction
WOOD
Total area
3,216 SF
Lot
0.22 ac (9,775 SF)
Zoning code
RM1
APN
402-084-08
UPID
US09-1564449
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Location
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$725k
CAP Approach
CAP
$650k
Comparable Approach
Comparable
$579k
Blend (final)
Blend
$725k
Owner & transaction history
since 2024
Last sale
$725,000
7 recorded transactions
Zoning & alternative use
RM1 · Fresno, CA
Top alternative use upside
Commercial (general)
$1.1M
+171.1%
Medical building
$645,000
+56.9%
Office building
$635,000
+54.6%
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Value estimation
Instant AI valuation built from comps, income signals, and proprietary benchmarks. A defensible range, not a single guess.
Unlock the complete Valuation workflow
Full NOI reconstruction, selected comps, alternative-use scenarios, data audit and PDF export.
Full NOI build-up · 6 steps
All 5 comparables with addresses
4 alternative uses screened
Sensitivity value band
Source audit · 6 inputs
PDF export
Professional Plan · 30 reports
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Summary
1
Valuation conclusion
Included free
Estimated market value
$725k
Value range
$653k – $798k
±10% around blend
Estimated value / SF
$225 / SF
Confidence
High
5 county-verified comps
Property data
100
Market benchmarks
67
Comparable evidence
50
Income certainty
100
$653k
blend $725k
$798k
Market-derived valuation under stabilized market assumptions. Desktop analysis. No physical inspection performed.
2
Subject property
Included free
GBA
3,216 SF
Lot area
0.22 ac
Year built
1981
Stories
1
APN
402-084-08
Zoning
RM1
Assessed value
$754,289
Annual tax
$8,991
3
Income approach: direct capitalization
Partial preview
Income approach indication
$650k
Direct capitalization · @ 6.5% CAP return
@ 6% CAP return
$700k
@ 6.5% CAP return
$650k
@ 7% CAP return
$600k
Estimated Stabilized NOI, derived from market rent, vacancy and expense benchmarks. Actual property income not reported.
Estimated market rent / SF
Potential gross income
Vacancy allowance
Effective gross income
Benchmark operating expenses
Stabilized NOI
Property tax
$8,991
Selected cap rate
4
Sales comparison
Partial preview
Sales approach indication
$518k
Weighted, 5 comps · high confidence
Evidence
5 found · 5 selected
County-verified recorded sales
Comparable
Sale dateSale price$ / SF
5.8 mi away · 3,686 SF
6.0 mi away · 3,240 SF
7.4 mi away · 3,220 SF
16.9 mi away · 4,140 SF
5
Sensitivity & risk
Partial preview
Downside
−10%
Base
$725k
Upside
+10%
Bounds of the ±10% band vs the blend — never simulated scenarios.
6
Current market position
Included free
Benchmark
Observed band ($/SF)AverageSubject delta
Submarket 624 sales
$128
+76%
County 845 sales
$127
+77%
Band = middle half (Q1–Q3) of recorded sale $/SF for this use type per geography; the diamond marks the subject at $225/SF. Delta below average reads as headroom. Source: Realmo CRE sales derivatives (county records).
7
Alternative use screening
Partial preview
Top alternative use
Commercial (general)
Gross theoretical uplift
+171%
vs current-use indication
Medical Building
Office Building
Auto Repair, Garage
Values shown before conversion costs, entitlement costs, capital expenditures and stabilization risk.
8
Data & methodology
Included free
Building area
County record
Property tax
County record
Assessed value
County record
Zoning designation
County record
Operating expenses
Modeled
Market rent
Market benchmark
Not analyzed due to unavailable source data: actual rent roll, tenant leases, physical condition and capital
requirements are outside a desktop analysis.
Cost Approach excluded: income and sales evidence cover the value conclusion.
Automated valuation analysis, not a licensed appraisal. Figures are derived from public
records and proprietary models. Desktop analysis: no physical inspection, tenant leases or reported
property income. Verify with a licensed appraiser before transacting.
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
Unlock the complete Cap Rate workflow
Full market tables, editable assumptions, comparable evidence, saved work and exports.
9-scenario matrix
Comparable evidence · 5 sales
NOI build-up · 9 steps
Market rates by use type
PDF export
Professional Plan · 30 reports
from $99/month
from $99/month
Overview
Selected market yield
5.80%
Selected cap rate for this residential income homes
Derived from the Fresno market rent, vacancy and expense benchmarks for this use type.
Lower yield / higher price
Higher yield / lower price
5.0%
This property · 5.80%
9.0%
NOI (est.)
$42k *
Last sale · Sep 2024
$725k
* derived from a real price signal at a 7% cap
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Test a cap rate
Implied value$726k
Move the market yield to see immediate price impact.
Value / SF
$226
Vs. selected
Base
Derivation
NOI ÷ cap
Arithmetic over the derived NOI * — not market scenario modeling.
NOI × cap matrix
Preview
Preview of 9 modeled outcomes.
NOI
5.30%5.80%6.30%
$38k
$715k
$654k
$602k
$42k
$795k
$726k
$669k
$46k
$874k
$799k
$735k
NOI sensitivity ±10% across the selected-rate band (±0.5 pp) — derivation of the NOI above.
Comparable evidence
Partial preview
Recorded sales nearby
5 found
High confidence · county-verified
Closest comparable
$550k
3.3 mi · Dec 2025 · $137/SF
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,991
Tax year 2023
Assessed value
$754,289
Assessed 2024
Previous assessed
$754,289
+0.0% YoY
Effective rate
1.19%
On assessed value
Assessed land
$121,726
Assessed improvement
$632,563
Applied tax rate
5.0000
Automated cap rate analysis. Based on public records, market benchmarks and proprietary
models. Verify with a licensed professional before transacting.
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
For Sale
Year built
1981
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
1
Units
3
Bathrooms
6
Total area
3,216 SF
Lot
0.22 ac (9,775 SF)
Zoning code
RM1
APN
402-084-08
UPID
US09-1564449
Jurisdiction
FRESNO
Zoning & alternative use
RM1 · Fresno, CAZoning RM1 · permitted uses
RM1 · Fresno, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Alternative use value scenarios
Repositioning upside vs current use
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Building & site characteristics
From public records
Year built
1981
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
1
Units
3
Bathrooms
6
Lot
0.22 ac
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
County-recorded code
RM1
Jurisdiction
Fresno, CA
Recorded code
RM1
Zoning Insight
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RM1 in Fresno, CA.
What opens after registration
Zoning profile
3 official documentsVerified municipal sources with file download
Match provenanceAssignment basis, match tier and confidence
Private report access
See the official zoning profile for this address.
Registration is required before the official district profile is shown.
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Ownership Intelligence
Find the owner behind the property.
Unlock the evidence behind ownership: portfolio, transactions, debt and signals that help you decide who to contact next.
What opens after registration
Ownership report
Owner identityResolved entity and name variants
Portfolio holdingsLinked properties and estimated value
Deal signalsSell-side activity worth following
Debt & historyRecorded loans and transaction history
Private report access
See the ownership record for this address.
Registration is required before any owner information is shown.
One complete report on every paid plan · 30 · 300 reports per month.
Owner of record and activity signals are derived from public records and modeled classifications.
They do not confirm beneficial ownership or intent to transact.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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