$595,000
$55k
2130 N Glenn Ave, Fresno, CA 93704
- 10Beds
- 5Baths
- 3900SqFt
- 10Beds
- 5Baths
- 3900SqFt
- Property TypeCondo
- Year Built1966
- Price per Sqft$153
- On highrises35 Days
Property Details
100% occupied 5 Unit Multi-Family Apartment complex on 0.17 Acres of land. Property consists of one two story building with (5) separately-metered units that totals 3, 900 SF. All (5) units include 2 Bed/1 Bath (760 SF), private entrances, separately metered for gas/electricity, and has access to on-site laundry. Each lease term is 1-year and is now month to month, requiring tenants to pay their own utility & hot water, separate gas & electric meter. With Fresno City College across the street, this property offers a prime opportunity to attract college students as tenants, ensuring a steady stream of potential renters.The value-add opportunity consists of addressing the under-market rent of the (5) tenants, extending lease length over the next 6-12 months. Value-add opportunity with actual rents of $59, 400/year collected plus upside potential. After remodeling the units and addressing the slightly under-market rents, the realistic stabilized gross annual income is $91, 800. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 8.72% CAP rate.
Property Features
Bedrooms
- Bedrooms: 10
Property History
Neighborhood
Environmental Risk
Nearby Home Values
- Presented by:
- Timothy Niehoff
- state license#02158053
- Brokered by:
- Century 21 Jordan-Link & Compa
- (999) 432-1221