4561 E Ave, Fresno, CA

$610,000

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5

Beds

5

Baths

2,828

Square feet

0.19

Acres

About 4561 E Ave

This multifamily deal in Fresno presents an interesting opportunity for investment, particularly because of its involvement with the Fresno Housing Authority and the voucher system.Property: 5-unit apartment complex, all 1 bed 1 bath. Unit A $1205, Unit B $1204 Unit C $1169, Unit D $1136 Unit E $938 Occupancy: 100%, with 4 units on Fresno Housing Authority vouchers.Current Rent: $5,652/month ($67,824 annually).Potential Rent: Up to $6,160/month with a 9.2% increase, considering the maximum Fresno HA voucher amount ($1,308).Expenses: $13,455 annually.--As per current expenses stated by the seller.--New buyer may have more or less.Cap Rate: Caprate---$ 54369/620000X 100 = 8.769----Cap rate must be calculated by buyers and buyers agent.Stable Income: The involvement of the Fresno Housing Authority suggests a potentially good rental income, especially with the current 100% occupancy rate.Income Growth Potential: There may be room for rental increases within the Fresno HA voucher limits, which may boost the income and, consequently, the property's value.Low Expenses: The annual expenses are relatively low compared to the gross income, indicating efficient management

Features of 4561 E Ave

MLS® # 610492
Price $610,000
Bedrooms 5
Bathrooms 5.00
Square Footage 2,828
Acres 0.19
Year Built 1960
Type Multi Family
Sub-Type 5 to 10 Units
Status Active

Community Information

Address 4561 E Ave
Area 702
City Fresno
County Fresno
State CA
Zip Code 93702

Amenities

Parking Carport
Is Waterfront No
Has Pool No

Interior

Heating Floor or Wall Heat
Cooling Window or Wall A/C
Fireplace No
Fireplaces None
# of Stories 2
Stories Two Stories

Exterior

Exterior Stucco
Roof Comp Shingle

School Information

District Fresno Unified
Elementary Leavenworth
Middle Yosemite
High McLane

Additional Information

Date Listed April 6th, 2024
Days on Market 47
Foreclosure No
Short Sale No
RE / Bank Owned No

Listing Details

Agent Puneet Bhargava
Office Realty Concepts, Ltd. - Clovis

Listing Map

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