New Listing
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$9061 Ideally 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 updates Section 8 tenant base Strong in-place income with rental upside Low-maintenance investment Excellent access to major corridors and amenities Perfect for investors seeking income-producing asset with built-in growth potential in a steadily appreciating market.
Details
| MLS # | FR26198688 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1970 |
| Days On Site | 3 |
| Listing Provided By | Homesmart PV & Associates | SUMANJEET SINGH |
Features
| SQ Feet | 4,500 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 5 |
| Building(s) | 1 |
| Acreage | 0.14 |
Interior
| Cooling | Wall Window Units |
|---|---|
| Cooling Yes / No | Yes |
Exterior
| Lot Features | Zero To One Unit Acre |
|---|
Parking
| Garage Yes / No | No |
|---|
Utilities
| Sewer | Public Sewer |
|---|
Location
| Community Features | Street Lights |
|---|
Area Information
| State | CA |
|---|---|
| County | Fresno |
| City | Fresno |
| Zip Code | 93701 |
| Listing VS Median (in 93701) | |
Price: $860,000 low | high Med: $557,325 sqft: 4,500 low | high Med: 2,317 $ / sqft: $191 low | high Med: $242 On site: 3 low | high Med: 50 | |
Market Activity 93701
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Learn More About This Property
| State | CA |
|---|---|
| County | Fresno |
| City | Fresno |
| Zip Code | 93701 |
| Listing VS Median (in 93701) | |
Price: $860,000 low | high Med: $557,325 sqft: 4,500 low | high Med: 2,317 $ / sqft: $191 low | high Med: $242 On site: 3 low | high Med: 50 | |