Investment Overview

Marcus & Millichap is pleased to present the Cypress Point Apartments located in Fresno, CA. This unique opportunity, now available for the first time in over 20 years, presents a compelling case for investors seeking to maximize returns. With the potential to increase rental income by approximately 13% through interior renovations, this property promises substantial value enhancement. The property has a favorable assumable loan with approximately 9 years left with an interest rate of 3.16% interest only. At an attractive 5.04% cap rate on current operations and a promising 6.59% cap rate on proforma operations, Cypress Point is attractively priced, highlighting its strong cash-on-cash return of 7.05%. Boasting over 200 units in the Central Valley, it provides a substantial foothold in a desirable rental market. Cypress Point has 100% two-bedroom/one-bathroom units that range from 968-992 square feet. In addition, well-equipped common areas, including two swimming pools, on-site laundry (approximately 77% of the units have washer/dryer hookups), ample parking, enhance tenant satisfaction. Situated in a robust rental market, Cypress Point benefits from strong demand for housing, ensuring consistent occupancy and potential for rent growth. For investors seeking a well-positioned, income-generating property with value-add potential, Cypress Point represents a compelling opportunity