Investment Overview

Marcus & Millichap is pleased to present the Renaissance Apartments located in Northeast Fresno, CA. This unique opportunity presents a compelling case for investors seeking to maximize returns. With the potential to increase rents with the platinum upgrades (interior upgrades), this property promises substantial value enhancement. The property is very well maintained and located in one of the most desirable places to live in Fresno (Northeast Fresno). At an attractive 5.57% cap rate on current operations and a promising 6.27% cap rate on proforma operations, Renaissance Apartments is attractively priced, highlighting its strong cash-on-cash return of 6% on current and 6.90% on proforma. There is some very attractive debt quotes for the subject property in the low 5’s with a 35-year amortization. Boasting over 250 units in the Central Valley, it provides a substantial foothold in a very desirable rental market. Renaissance Apartments has a very attractive unit mix: (88) one-bedroom/one-bathroom, (88) two-bedroom/one-bathroom, (72) two-bedroom/two-bathroom and (30) three-bedroom/two-and-a-half bathroom townhouses. In addition, well-equipped common areas, including pool, playground, basketball court, fitness center, (3) laundry facilities, (30) garages and ample parking. Situated in a robust rental market, Renaissance Apartments benefits from strong demand for housing, ensuring consistent occupancy and potential for rent growth. For investors seeking a well-positioned, well-located, income-generating property with value-add-potential, Renaissance Apartments represents a compelling opportunity.