Investment Overview

Marcus and Millichap are pleased to present 7089 Howard Street in Northeast Fresno (one of the most desirable places to live in Fresno). Built in 178, the property consists of five units totaling 5,600 square feet on a 0.33-acre lot. The property is single-story construction that is all two-bedroom/two-bathroom units that are approximately 1,120 square feet. All the units have been remodeled with the following: Vinyl plank flooring, granite countertops, new lighting fixtures, blinds, appliances, etc. This is turn-key asset in a fantastic location. The property has a laundry room for additional income. The units are separately metered for gas and electric. Each unit has large, enclosed patios and a covered carport and plenty of street parking if needed. The property attracts tenants because of its large open floor plan, the large patios and fantastic northeast Fresno location. It is very rare to find an apartment building for sale in northeast Fresno. The property is very well maintained and a low maintenance building. The property is close to many shopping options: RiverPark (Regal Edwards, Best Buy, DICKS's Sporting Goods, Macy's and many other big box retail and restaurants). The property is walking distance to Kaiser Permanente Hospital and other medical offices. Priced at a 5.05% cap rate on current operations/5.54% on Proforma, this is a great and rare opportunity to purchase a turnkey asset in Northeast Fresno. You can increase cash flow on turnover or continue raising rents yearly to the tenants.