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$ 890,000
Est. payment | /mo
15 Beds
5 Baths
4,500 SqFt
$ 890,000
Est. payment | /mo
15 Beds
5 Baths
4,500 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 4,500 sqft
Price per Sqft $197
MLS Listing ID 647446
Bedrooms 15
Full Baths 5
HOA Y/N No
Year Built 1970
Lot Size 6,250 Sqft
Property Sub-Type Multi Family
Property Description
Exceptional opportunity to acquire a well-maintained 5-unit multifamily property in a desirable Fresno location. Each unit offers a spacious 3-bedroom, 1-bath layout with approximately 900 square feet, totaling 4,500 square feet of rentable spaceideal for attracting long-term tenants.The property has been recently remodeled and painted within the past three years, providing a low-maintenance, turnkey investment. All units are Section 8 friendly and currently leased through the Housing Authority, offering reliable, consistent rental income and reduced vacancy risk.Current gross rents total $8,648/month, with upside potential to $9,375/month based on existing rent caps. Annual gross income exceeds $103,000 with the potential to reach over $112,000and even higher as voucher limits continue to rise.Operating expenses are efficient, resulting in a strong Net Operating Income of approximately $72,996, with potential to increase to $81,720. Investors will benefit from immediate positive cash flow, with current monthly returns around $2,583 and projected upside to over $3,300/month. All five A rents are due to be increased in next 7 dash 8 months/ assuming rents will be increased by 7% The new rents will be$9061Ideally located near Highway 180, shopping centers, schools, and dining, the property sits within a clean, well-maintained complex in a high-demand rental area.Highlights:Five 3 bed / 1 bath units (~900 SF each)Recently remodeled interiors and exterior updatesSection 8 tenant baseStrong in-place income with rental upsideLow-maintenance investmentExcellent access to major corridors and amenitiesPerfect for investors seeking income-producing asset with built-in growth potential in a steadily appreciating market.Don't miss this rare opportunityschedule your private tour today!
Location
State CA
County Fresno
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Exterior
Parking Features Carport
Community Features Utility Room
Utilities Available Public Utilities, Natural Gas Connected
Roof Type Composition
Building
Lot Description Urban
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
High Schools Fresno Unified
Listed by HomeSmart PV and Associates
NEARBY SCHOOL & BUSINESS