422 N Ave, Fresno, CA

$960,000

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8

Beds

8

Baths

5,170

Square feet

0.24

Acres

About 422 N Ave

Introducing a prime investment opportunity in the heart of Fresno - an eight-unit apartment complex that seamlessly combines modern amenities with strategic location. Nestled on a sprawling lot exceeding 10,000 square feet, this property boasts three buildings, six garages, and shared backyards for an added appeal. Each of the one-bedroom, one-bathroom units within this complex is equipped with inside laundry hook-ups and dual-pane windows, ensuring convenience and energy efficiency for tenants. The thoughtful upgrades extend to the entire complex, with a full remodel in 2020 and re-roofing of two buildings in 2019. A number of units also feature brand new water heaters, minimizing maintenance concerns. Strategically positioned near downtown Fresno and the vibrant Tower district, residents enjoy easy access to an array of stores, restaurants, and cultural events. The location not only enhances the property's desirability but also contributes to a steady stream of potential tenants. For savvy investors, the enticing capitalization rate hovers just below 5%, with the potential for further growth by adjusting rental rates. With meticulous renovations, contemporary features, and an optimal location, this eight-unit apartment complex presents a rare opportunity to capitalize on Fresno's dynamic real estate market. Don't miss your chance to secure a promising investment with both immediate returns and future appreciation potential.

Features of 422 N Ave

MLS® # 607427
Price $960,000
Bedrooms 8
Bathrooms 8.00
Square Footage 5,170
Acres 0.24
Year Built 1951
Type Multi Family
Sub-Type 5 to 10 Units
Status Active

Community Information

Address 422 N Ave
Area 701
City Fresno
County Fresno
State CA
Zip Code 93701

Amenities

Features Security Gate
# of Garages 6
Is Waterfront No
Has Pool No

Interior

Heating Floor or Wall Heat
Cooling Evaporative
Fireplace No
Fireplaces None
# of Stories 1
Stories One Story

Exterior

Exterior Stucco
Roof Comp Shingle

School Information

District Fresno Unified
Elementary Anthony
Middle Tehipite
High Roosevelt

Additional Information

Date Listed January 30th, 2024
Days on Market 77
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

Agent Douglas Dart
Office Dart Realty

Listing Map

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