259 N Clovis Ave, Fresno, CA

$1,750,000

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97,574

Square feet

2.24

Acres

About 259 N Clovis Ave

**Prime Development Opportunity: Phase 2 of Fancher Creek Mall Development with 60 Units in Fresno, CA****Shovel-Ready Status**: This project comes shovel-ready, allowing the buyer to move forward immediately post-permit approval. Civil (onsite & offsite), Building (MEP, Structural & Architectural), Fire & Fire Sprinkler, Solar and PG&E + ALL APPROVED!All plan check fees have been paid for by the seller & buyer/builder to pay for permits and development fees**Market Rental Rates**: This Fresno Area market commands an average rent of $1,850 per month for outdated 2-bedroom, 2-bathroom units. Newer units in this development are projected to yield $2,100 per month.**Financial Metrics**: Our seller's proforma indicates an enticing 8.9% Cap Rate. However, we strongly recommend buyers to conduct their own comprehensive due diligence. Comprehensive Development Budget & Operational Budget Available During Due Diligence Period.

Features of 259 N Clovis Ave

MLS® # 609579
Price $1,750,000
Square Footage 97,574
Acres 2.24
Type Lots
Sub-Type Commercial, Multi Family
Status Active

Community Information

Address 259 N Clovis Ave
Area 727
City Fresno
County Fresno
State CA
Zip Code 93727

Amenities

Is Waterfront No

Exterior

Lot Description 1 - 5 Acres

School Information

District Fresno Unified
Elementary Southeast
Middle Kings Canyon
High Sunnyside

Additional Information

Date Listed March 18th, 2024
Days on Market 65
Zoning CMX
Foreclosure No
RE / Bank Owned No

Listing Details

Agent Goon Pattanumotana
Office Goon Pattanumotana, Broker

Listing Map

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